What is the definition of Lump sum contract? | Dictionary.net

LUMP SUM CONTRACT

\lˈʌmp sˈʌm kˈɒntɹakt], \lˈʌmp sˈʌm kˈɒntɹakt], \l_ˈʌ_m_p s_ˈʌ_m k_ˈɒ_n_t_ɹ_a_k_t]\

Definitions of LUMP SUM CONTRACT

1910 - Black's Law Dictionary (2nd edition)

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A contract requiring no cost breakdown. The principal, either customer or owner, agrees to pay a specified amount for work a contractor completes.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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