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payee is the person who is to be paid
payor is who pays to the payee
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∙ 11y ago
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What is the difference between a crossed cheque and account payee's cheque?
They both mean the same
What is the definition of a 'payor'?
A payment is the transfer of wealth from one party (such as a person or company) to another. A payer is the party making a payment. The payee is the party receiving the payment.
What is the difference between payee and beneficiary in banking transactions?
payee is a person on whose life expectancy the insurance poilicy is issued. beneficiary is a person who receives the death benefits if the insured dies
Can you cash a check at a the bank where a check is wrote to you if there is no money in the account?
You can and it would probably bounce due to insufficient funds, unless the payor had bank coverage for IF, then the bank would pay it. The payor [you'r the payee, the one who should be receiving the money] would be penalized by the bank if they dint have the IF coverage, as I understand it, I've never been in that situation.
What is the difference between remuneration and reimbursement?
To reimburse is to pay for expenditures made on the payor's behalf. To remunerate is to pay for services made at the request of the payor. The subtle difference is that the party receiving the monies in the first instance used funds already under their control, whereas in the second instance the funds are transferred to the service provider during or after the service is rendered, with the provider expending their own funds.
What is the difference between payor and payee?
The payer is the person that is paying a sum of money to the payee. The payer signs the check and the payee is the person who cashes the check.
What is the difference between a crossed cheque and account payee's cheque?
They both mean the same
What is the definition of a 'payor'?
A payment is the transfer of wealth from one party (such as a person or company) to another. A payer is the party making a payment. The payee is the party receiving the payment.
What is the difference between payee and beneficiary in banking transactions?
payee is a person on whose life expectancy the insurance poilicy is issued. beneficiary is a person who receives the death benefits if the insured dies
What is the difference between payor and payer?
The preferred spelling is "payer." This version is most widely used and accepted by the pharmaceutical/biotech industry. The correct spelling, however, is "payor" if one means the one who pays. See Webster. Popularity does not have to trump correctness.
Can you cash a check at a the bank where a check is wrote to you if there is no money in the account?
You can and it would probably bounce due to insufficient funds, unless the payor had bank coverage for IF, then the bank would pay it. The payor [you'r the payee, the one who should be receiving the money] would be penalized by the bank if they dint have the IF coverage, as I understand it, I've never been in that situation.
Can a judgment for legal fees be mediated?
Possibly 'post-judgement' they might be, but the finding of the court is still a court order and cannot be subject to change. Either the payor or the payee would have to file a motion with the to alter its' judgement.
What is the difference between remuneration and reimbursement?
To reimburse is to pay for expenditures made on the payor's behalf. To remunerate is to pay for services made at the request of the payor. The subtle difference is that the party receiving the monies in the first instance used funds already under their control, whereas in the second instance the funds are transferred to the service provider during or after the service is rendered, with the provider expending their own funds.
When there is a question of back child support where is the burden of proof?
The burden of proof is on the payee (the one receiving payments). If a support order was filed - the payee contacts the state agency to "go after" the payor. The burden will then shift to the state as they are the keeper and overseer of all payment records. They can then garnish IRS tax refunds and issue additional child support payment amounts to repay the arrearage.
What is a lose payee and a mortgage payee?
In order to preserve the interest of the Lender, a lost payee clause is added onto the insurance policy. This indicates the list of people who are interested in the property but are not policy holders. This is similar to the mortgage payee clause between the owner and the buyer.
Is the legal payment date the date the transaction is initiated or the date the payee receives the payment?
The legal payment due date is the date specified in the contract. The actual payment date is the date the payment is initiated by the payor unless specified otherwise in the contract.
What is difference between a Mortgagee clause and a loss payee clause?
Type your answer here... The motgage clause protects the mortgage holder even if insured breaches a condition of the policy e.g. insured not covered due to vacancy clause - mortgage holder will still be able to claim - by comparison, a loss payee would be out of luck - the only requirement on the insurer would be to include the loss payee on cheuqes resulting from the loss.
