Payer
/ˈpeɪər/
Definitions
- (n.) An individual or entity obligated to make a payment under a contract or legal obligation.
The payer must remit the full amount within 30 days of the invoice date.
Forms
- payers
Related terms
See also
Commentary
The term 'payer' typically refers to the party responsible for discharging a financial obligation; clarity in contracts often requires specifying the payer to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.