Abstract: A precision dispensing pump for dispensing fluids and method of dispensing for use in semiconductor packaging and/or semiconductor assembly. The precision dispensing pump employs a working fluid displacement drive for volumetric displacement of a working fluid, a dispensing reservoir for containment of dispensing fluid and a isolation diaphragm for isolating the working fluid from dispensing fluid in the dispensing reservoir. Volumetric displacement of dispensing fluid in the dispensing reservoir is proportional to volumetric displacement of working fluid in the working fluid displacement drive.