Payee
A party who receives payment. Investopedia Says:
In the case of a promissory note, with which one party promises to pay another party a predetermined sum, the party receiving the payment is known as the payee. The party making the payment is known as the payer.
In the case of coupon payments from bonds, the party receiving the coupons is the payee, whereas the bond issuer would be referred to as the payer. Related Terms:
Bond
Payer
Promissory Note |