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What does it mean to get a lump sum payout?
To get a lump sum payout typically involves foregoing monthly installment payments in lieu of a one time lump sum. Many people who win the lottery prefer to have a lump sum taken instead of monthly checks. Although it should be noted the lump sum is less money than if you were to add up all monthly payments, in the long run.
What does the term 'Lump Sum' mean?
Lump Sum means all in one shot or To be given a full amount at one time, instead of several smaller payments over a period of time. Most people prefer to receive a lump sum.
What does lump sum means?
It is an amount that is paid at one time (in one big lump) rather than over a number of time periods.
How can one perform lump sum payments?
Many contracts will offer different payment offers such as a large amount of money that can be deposited at the beginning or smaller payments that are distributed over time which usually cost more than lump sum payments.
Small sum of money given to show intention of completing contract?
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