LUMP SUM BID
\lˈʌmp sˈʌm bˈɪd], \lˈʌmp sˈʌm bˈɪd], \l_ˈʌ_m_p s_ˈʌ_m b_ˈɪ_d]\
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Single value bid. Expected to cover all cost for the project involved. Includes equipment, labor, material, overheads, and services, as well as the contractor's fee or bonus for completing the items of work comprising the job. All of this is done without providing a cost breakdown.
By Henry Campbell Black
