When money is transferred between two parties for the exchange of goods or services, the two parties involved are the payee and payor. The payee is the person who receives money from the payor. The payor is the person who pays the money to the payee. In some situations, such as when wr...
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noun Money paid in hand to bind a contract ; earnest money. Wiktionary Related Articles Let Dead Dogs Sleep, and Other Mixed Metaphors Examples of Greed 60+ Money Slang Words & Expressions What Is a Maxim? Everyday Examples of General Truths Payor vs. Payee: Two Key Terms in Financ...
Acheckis a dated draft instructing a bank to make a specific amount payable on demand. Checks can be written by an individual or a company stipulating an amount to be paid to the payee. When a check is brought to a bank to be cashed or deposited, the money is withdrawn from the payo...
Payor vs. Payee: Two Key Terms in Financial Transactions Powerful Memoir Examples Find Similar Words Find similar words to sell-on using the buttons below. Words Starting With SSESEL Words Ending With NON Unscrambles sell-on Words Starting With S and Ending With N Starts With S & End...
Canceled Checks vs. Returned Checks While a canceled check is honored by the bank,a returned checkis a check that didn't clear the payor's bank, and as a result, the funds won't be made available to the payee or the depositor. There are a few reasons a check can be marked as retu...
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