Lump sum is slang for payment all at once or a fixed payment. For example, instead of getting your new car financed and paying it off gradually, you might elect to pay the whole cost in a lump sum at the beginning. Or you suddenly want to withdraw all your savings and move to mexico, and take out a lump sum. Lump sum is also the name of a kind of tax.

Log in or register to write something here or to contact authors.