Paymaster
/ˈpeɪˌmæstər/
Definitions
- (n.) An individual or entity authorized to distribute payments, often wages, on behalf of an employer or principal.
The paymaster issued the monthly salaries to all employees on the 30th.
- (n.) A party responsible for making payments in legal or financial arrangements, such as settlement distributions or escrow funds.
The paymaster ensured the settlement funds were properly disbursed to all claimants.
Forms
- paymaster
Related terms
See also
Commentary
In legal documents, it is important to clearly define the paymaster's authority and scope to avoid ambiguity in payment obligations.
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.