Single Lump Sum Sample Clauses

The Single Lump Sum clause establishes that payment for goods, services, or a project will be made as one fixed, total amount rather than in installments or based on time and materials. In practice, this means the contracting party receives the entire agreed-upon sum upon completion of the specified deliverables or milestones, regardless of the actual costs incurred during performance. This clause provides cost certainty for both parties and simplifies payment administration, while also allocating the risk of cost overruns to the party performing the work.