payor

Definition

The person who makes payment to another; the person who pays.

Use payor in a sentence

You need to make sure as the payor that you are always on time and have the full amount ready.

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While she often preferred to think of herself as a customer, the employees at the shop saw her only as a payor.

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The successful manufacturing company was finally sold today when a very wealthy payor closed on a deal which enabled him to purchase it for $4 billion.

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payoff statement payout