payee

pay·ee   (pā-ē')    n.  One to whom money is paid.

Payee

A party who receives payment.

Investopedia Commentary

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 Links

Bond Basics Tutorial

See also: Bond, Payer, Promissory Note

Main Entry: pay·ee
Pronunciation: "pA-'E
Function: noun
: a person to whom money is to be or has been paid; specifically : the person named in a bill of exchange, note, or check as the one to whom the amount is directed to be paid —compare DRAWEE, DRAWER