Payer: meaning, definitions and examples

Commonly used in financial and legal contexts to refer to the person or entity that makes a payment.

• The payer has 30 days to settle the invoice.
• Always confirm the identity of the payer to prevent fraud.

Primarily used in legal and medical contexts, often to identify the party responsible for paying fees or claims, similar to 'payer'.

• The insurance company acts as the payor of medical claims.
• Ensure that the payor's information is correctly recorded in the contract.

Refers to the individual or entity that sends a payment or remittance, often in the context of international transfers or formal financial transactions.

• The remitter must ensure that all required information accompanies the transfer.
• Banks often charge a fee to the remitter for international wire transfers.

Refers to someone or something that pays out money, often in a formal or institutional setting, like a government or company.

• The government acts as the disburser of unemployment benefits.
• The company's financial officer is responsible for being the disburser of funds.

Refers to a person or organization that pays for a service or product. Commonly used in financial transactions or billing contexts.

• The payer needs to settle the invoice by the end of the month.
• Medicare serves as a primary payer for many senior citizens.

Refers to an individual or organization that provides financial support for projects, organizations, or initiatives. Commonly used in the context of grants, research, or startups.

• The project moved forward after they secured a funder.
• Universities often rely on government agencies as their primary funders.

Describes someone who gives money or support to a person, organization, or cause, often in a charitable context. This term has a positive connotation.

• The new library was made possible thanks to a generous benefactor.
• She became a benefactor for the orphanage after witnessing their needs.

Describes a person or organization that supports an activity or event financially, often in exchange for advertising or promotion. Frequently used in marketing, sports, and entertainment contexts.

• The marathon was a great success, thanks to our corporate sponsors.
• Every major sports event has multiple sponsors.