One who pays; specifically, the person by whom a bill or note has been, or should be, paid.
(Or Payor.) One who pays or is to pay, particularly the person who is to make payment of a check, bill, note, or account.
Generally regarded as the guarantor of payment. Could be an employer, health and welfare fund, insurer, or a broker for the employer or labor organization acting in a purchasing agent capacity, or an individual.