Order Of Payment (Noun)
Meaning
A document ordering the payment of money; drawn by one person or bank on another.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bank processed the order of payment and debited the client's account immediately.
- The company issued an order of payment to settle the outstanding debt with their supplier.
- After verifying the client's account balance, the payment processor generated an order of payment to the recipient.
- The financial institution honored the order of payment, despite some initial discrepancies in the documentation.
- Upon receiving confirmation from the client, the accountant created an order of payment to compensate the contractor for their services.