Sum Certain
A legal description of the predetermined settlement price for a contract or negotiable instrument.
Investopedia Commentary
This term refers to the stated final payment to be made at the end of a contract. A digital option is an example of a financial product with a sum-certain payment. After a set price is met, the payout is fixed instead of depending on or relating to the underlying security and strike price.
Related Links
Options Basics Tutorial
See also: Date Certain, Digital Option, In the Money, Strike Price, Underlying