lump sum payment

USAGE SUMMARY

The phrase "lump sum payment" is correct and usable in written English.
It is typically used in financial contexts to refer to a single payment made in full, rather than in installments. Example: "The contractor requested a lump sum payment for the entire project upon completion."

✓ Grammatically correct

Academia

News & Media

Science

Formal & Business

Wiki

Human-verified examples from authoritative sources

Exact Expressions

33 human-written examples

Students not eligible for work-study funding will receive a lump sum payment of $1,600.

Cornell University

This stipend can take the form of a lump sum payment or a regular hourly wage.

Cornell University

Instead he took the lump sum payment and went to live in Torremolinos, Spain.

The New Yorker

On top of that, Sir Jock will get a lump sum payment of £350,000.

Independent

The three-page summary of the deal given to the board spoke only of a "lump sum payment" to Enron.

The New York Times

The contract, which expires on May 1 , 2005 also calls for an immediate lump sum payment of $750 per worker.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

27 human-written examples

The employee could elect to receive instead a lump-sum payment.

Harvard University

The lump-sum payment for a jackpot that big would be $146 million.

The New York Times - Sports

They are lured with promises of decent jobs, good wages and a lump-sum payment.

The Guardian

Most people, he knows from experience, will accept the lump-sum payment once it is offered.

The New York Times

Why is that part of the lump-sum payment process that starts next week?

The New York Times

Expert writing Tips

Best practice

When discussing financial agreements, clarify if a "lump sum payment" is pre-tax or after-tax to avoid misunderstandings.

Common error

Avoid using "lump sum payment" when referring to payments made in installments; instead, use terms like "payment plan" or "installment payments".

Linguistic Context

The phrase "lump sum payment" functions as a noun phrase, typically acting as the object or complement in a sentence. Ludwig confirms its usability in written English. It signifies a single, complete payment, contrasting with installment plans or recurring payments.

Expression frequency: Very common

Frequent in

News & Media

40%

Academia

24%

Formal & Business

12%

Less common in

Science

12%

Wiki

8%

Reference

4%

Ludwig's WRAP-UP

The phrase "lump sum payment" is a common and grammatically sound term referring to a single, full payment, as confirmed by Ludwig AI. It's used across various contexts, including academia, news, business, and science. The phrase is most frequently found in News & Media and Academic sources. When writing, ensure the tax implications are clarified and avoid confusing it with installment payments. Consider using alternatives like "single payment" or "one-time payment" for variety. Understanding its proper usage is critical in financial and legal contexts to ensure clarity and prevent misunderstandings.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

single payment

Emphasizes the one-time nature of the payment, simplifying the concept.

one-time payment

Highlights that the payment is not recurring, focusing on its singularity.

full payment

Stresses that the entire amount is paid at once, indicating completeness.

total payment

Focuses on the entirety of the payment being made simultaneously.

complete payment

Underscores the fulfillment of the payment obligation in a single transaction.

bulk payment

Suggests a large quantity or amount paid at once.

entire payment

Highlights that no portion of the payment is deferred.

upfront payment

Indicates the payment is made at the beginning of a transaction or agreement.

cash settlement

Implies resolving a financial obligation with a single cash payment.

one-off payment

Stresses the isolated and non-recurring nature of the payment.

FAQs

What is a "lump sum payment"?

A "lump sum payment" is a single, one-time payment made in full, rather than in installments. It's often used in contexts like retirement payouts, legal settlements, and lottery winnings.

How does a "lump sum payment" differ from an annuity?

A "lump sum payment" is a single payment, while an annuity is a series of payments made over time. Choosing between them often depends on financial planning and tax considerations.

What are some alternatives to "lump sum payment"?

Depending on the context, you can use alternatives like "single payment", "one-time payment", or "full payment".

What are the tax implications of receiving a "lump sum payment"?

A "lump sum payment" is generally taxable income in the year it's received. The specific tax rate depends on individual circumstances and applicable tax laws. Consult a tax professional for personalized advice.