Examlex
What does the acronym IECC stand for?
Payor
A payor, in financial transactions, is the party that makes a payment to another party, the payee, often in fulfillment of an obligation such as a bill, loan, or settlement.
Acceptor
The party who agrees to pay a bill of exchange, such as a draft or check, upon its presentation.
Primarily Liable
Being the first or main party responsible for fulfilling an obligation or debt.
Notice Of Dishonor
A formal notification that a negotiable instrument, such as a check or promissory note, has been presented for payment and refused.
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