Another Name for Lump Sum Agreement

If you work in the legal or financial field, you may have come across the term «lump sum agreement» before. This type of agreement refers to a one-time payment made in full to settle a debt, compensation claim, or other financial obligation.

However, there may be instances where you need to refer to a lump sum agreement using a different term. Here are some alternative names for a lump sum agreement that you may find useful:

1. Fixed-Amount Settlement

A fixed-amount settlement is another term for a lump sum agreement, indicating that a predetermined and agreed-upon amount of money will be paid in full to satisfy a financial obligation.

2. Full and Final Settlement

A full and final settlement refers to the complete payment of a debt or compensation claim in one lump sum payment. This term is often used in legal contexts, such as when settling a personal injury claim.

3. One-Time Payment

A one-time payment is a simple and straightforward way to refer to a lump sum agreement. It conveys the idea that a single payment will be made in full to resolve a financial obligation.

4. Lump Sum Payment

While «lump sum agreement» and «lump sum payment» are often used interchangeably, the latter term can be a more concise way to refer to the payment itself rather than the agreement.

5. Cash Settlement

A cash settlement refers to a lump sum payment made in cash rather than by check, wire transfer, or other payment method. This term may be used in legal or financial contexts, such as when settling a lawsuit.

In summary, if you need to refer to a lump sum agreement using a different term, consider using «fixed-amount settlement,» «full and final settlement,» «one-time payment,» «lump sum payment,» or «cash settlement.» By using these alternative names, you can communicate the same meaning while adding variety to your writing and increasing its readability.