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This agreement resolves any and all claims the parties have regarding lump sum payments arising out of the 2008-2010 round of bargaining. Accompanying this proposal is a bid bond, certified check or bank cashier's check for the specified amount of deposit required.49.603-1 Fixed price contracts-complete termination. A lump sum contract provides a fixed price for completing a construction project, offering simplicity for both owners and contractors. BETWEEN AND FOR.