Payor: meaning, definitions and examples

Primarily used in financial and legal documents to refer to a person or entity that is obligated to pay a debt or expense.

• The payor is required to make the payment by the end of the month.
• In this agreement, the payor is the party responsible for all costs.

Commonly used in both everyday and formal settings to refer to a person or entity that makes a payment, particularly in contexts involving transactions, bills, and services.

• The payer needs to settle the bill by the due date.
• Insurance companies are often the primary payers of healthcare costs.

Used specifically to describe someone who sends a payment, often in the context of transferring money across distances, such as international money transfers.

• The remitter must provide accurate recipient details to avoid delays.
• As the remitter, she facilitated the funds transfer to her family back home.

Used in everyday language to refer to someone who gives something, usually voluntarily and without expectation of return.

• She is a generous giver and always donates to charity.
• The giver of the gift explained the thought behind it.