Payee: meaning, definitions and examples

This term is used in financial and banking contexts to refer to the person or entity to whom a payment is made or is due.

• The payee must endorse the check before cashing it.
• Ensure the correct details of the payee to avoid transaction errors.

This word is broadly used to refer to a person who receives something, such as an award, email, gift, or message, in general contexts.

• The recipient of the award gave a heartfelt speech.
• Please check that the recipient's email address is correct before sending.

This word is often used in legal, insurance, and estate planning contexts to denote a person who receives benefits, money, or other advantages from a will, insurance policy, or trust.

• She named her son as the primary beneficiary of her life insurance policy.
• The trust will ensure that the beneficiary receives funds when they turn 18.

This term can be used in various contexts, typically to indicate someone who receives something. It is often used in telecommunications, sports, and legal contexts.

• The court-appointed receiver took control of the company's assets during the bankruptcy proceedings.
• In American football, the receiver caught the ball and scored a touchdown.

Use this term when referring to the person or entity who is receiving a payment. This term is commonly used in personal finance, business transactions, and banking. It is a neutral term.

• Please write the name of the payee on the check.
• The payee will receive the funds within three business days.

This term is appropriate when referring to someone to whom an obligation is owed, such as a contractual duty or a bond. It is often used in legal and formal agreements. The term is neutral.

• The obligee has the right to enforce the terms of the contract.
• She is the obligee in the agreement, ensuring that all conditions are met.

Use this term when referring to an individual or institution that has extended credit or a loan to another party and is owed repayment. This word is commonly used in financial contexts, especially in relation to debt and loans. It sometimes can have a slightly negative connotation if referring to debt collection.

• The creditor demanded immediate repayment of the overdue loan.
• He is a creditor to several small businesses.