LUMP-SUM Definition

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LUMP-SUM is an agreed upon sum of money, which is paid in full settlement all at one time.

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IAS is Institute of Asset Management (UK).

SWIFT CODE, within the context of international payment transactions, is a code issued by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) that enables banks worldwide to be identified without the need to specify an address or bank number. SWIFT codes are used mainly for automatic payment transactions.

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