Account Debtor definition: Copy, customize, and use instantly
Introduction
The term "Account Debtor" refers to an individual or entity that owes money to a creditor or lender under a financial agreement or contract. In the context of accounts receivable, the account debtor is the party responsible for settling the outstanding balance. The role of the account debtor is critical in ensuring that payments are made according to the terms outlined in the agreement.
Below are various examples of how "Account Debtor" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Account Debtor" as a party responsible for payment
This definition ties "Account Debtor" to the responsibility for payment.
"Account Debtor" means any individual or entity that owes payment under an agreement, contract, or other financial obligation, and is responsible for the timely settlement of outstanding debts.
Definition of "Account Debtor" for business transactions
This definition connects "Account Debtor" to business transactions.
"Account Debtor" refers to a party who has an outstanding financial obligation resulting from goods or services provided under a contract, and is expected to pay the specified amount within the terms agreed.
Definition of "Account Debtor" in relation to accounts receivable
This definition links "Account Debtor" to the accounts receivable context.
"Account Debtor" means an individual or business entity identified as owing an outstanding balance on an accounts receivable ledger, representing a debt that must be collected.
Definition of "Account Debtor" for creditor rights
This definition applies "Account Debtor" to creditor rights.
"Account Debtor" refers to the individual or organization who holds a debt obligation to a creditor, and whose payment is legally enforceable under the creditor’s rights.
Definition of "Account Debtor" for payment default
This definition connects "Account Debtor" to payment default.
"Account Debtor" means any party who has failed to make a payment when due, and whose account is considered overdue or in default under the terms of the agreement.
Definition of "Account Debtor" as a borrower
This definition ties "Account Debtor" to borrowing.
"Account Debtor" refers to any borrower who has incurred a debt that remains unpaid, and is responsible for repaying the loan under the terms specified in the loan agreement.
Definition of "Account Debtor" for outstanding invoices
This definition links "Account Debtor" to unpaid invoices.
"Account Debtor" means the person or entity that has failed to pay an outstanding invoice for goods or services rendered, and whose account remains unpaid.
Definition of "Account Debtor" in relation to collections
This definition connects "Account Debtor" to the collections process.
"Account Debtor" refers to the individual or company whose debt has been referred to a collections agency for recovery, typically due to non-payment or delinquency.
Definition of "Account Debtor" for secured transactions
This definition applies "Account Debtor" in the context of secured transactions.
"Account Debtor" means an individual or entity who is obligated to pay a debt that is secured by collateral, and whose payment status is critical in determining the creditor's recourse in case of default.
Definition of "Account Debtor" as a debtor in a loan agreement
This definition ties "Account Debtor" to a loan agreement.
"Account Debtor" refers to the borrower under a loan agreement, who is required to repay the loan principal and any interest as stipulated by the terms of the loan.
Definition of "Account Debtor" for credit extensions
This definition connects "Account Debtor" to credit extensions.
"Account Debtor" means a person or entity who has been extended credit by a creditor and is responsible for repaying the outstanding balance under the agreed-upon terms.
Definition of "Account Debtor" for payment obligations
This definition links "Account Debtor" to payment obligations.
"Account Debtor" refers to the individual or entity who is legally obligated to make a payment under the terms of a contract, agreement, or other financial arrangement.
Definition of "Account Debtor" for corporate debts
This definition connects "Account Debtor" to corporate debts.
"Account Debtor" means a corporation or business entity that has an outstanding financial obligation, such as accounts payable or a loan repayment, that must be settled in accordance with the terms of the agreement.
Definition of "Account Debtor" for third-party receivables
This definition applies "Account Debtor" to third-party receivables.
"Account Debtor" refers to any third party responsible for repaying a receivable that has been assigned or transferred to another party, typically under a factoring or assignment agreement.
Definition of "Account Debtor" for legal actions
This definition links "Account Debtor" to potential legal actions.
"Account Debtor" means the party whose outstanding debt has led to legal actions or proceedings, such as a lawsuit or claim for repayment.
Definition of "Account Debtor" for insolvency situations
This definition connects "Account Debtor" to insolvency.
"Account Debtor" refers to a person or business entity whose debt obligations are at risk of becoming uncollectible due to the debtor’s insolvency or bankruptcy.
Definition of "Account Debtor" for credit risk assessment
This definition ties "Account Debtor" to credit risk.
"Account Debtor" means an entity or individual whose payment history is evaluated as part of a credit risk assessment, influencing the creditor’s decisions regarding future credit extensions.
Definition of "Account Debtor" in a financing arrangement
This definition links "Account Debtor" to a financing arrangement.
"Account Debtor" refers to a party that is obligated to make payments under a financing arrangement, typically involving credit, loans, or an installment payment plan.
Definition of "Account Debtor" for assignment of receivables
This definition connects "Account Debtor" to assignment of receivables.
"Account Debtor" means the party who owes the receivable that has been assigned or transferred to a third party, who assumes the right to collect the debt.
Definition of "Account Debtor" for intercompany transactions
This definition applies "Account Debtor" to intercompany transactions.
"Account Debtor" refers to an entity within a corporate group that owes an outstanding balance to another entity within the same group, typically under intercompany loan or transfer agreements.
Definition of "Account Debtor" for factoring agreements
This definition ties "Account Debtor" to factoring agreements.
"Account Debtor" means the person or entity whose receivables have been sold to a factor, and who is still responsible for making payments on those debts.
Definition of "Account Debtor" in a contract for sale of goods
This definition links "Account Debtor" to the sale of goods.
"Account Debtor" refers to a buyer in a contract for the sale of goods who has an outstanding payment obligation for goods or services received.
Definition of "Account Debtor" in a commercial lending agreement
This definition applies "Account Debtor" to commercial lending.
"Account Debtor" means a borrower under a commercial lending agreement who is obligated to repay the loan or credit extension as per the terms set forth in the agreement.
Definition of "Account Debtor" for receivable financing
This definition connects "Account Debtor" to receivable financing.
"Account Debtor" refers to the party whose debt is being used as collateral in a receivable financing transaction, where the creditor uses the receivables to secure additional financing.
Definition of "Account Debtor" for collection actions
This definition ties "Account Debtor" to collection actions.
"Account Debtor" means any person or organization from whom a creditor is attempting to collect outstanding amounts due, including through legal or administrative means.
Definition of "Account Debtor" for overdue debts
This definition links "Account Debtor" to overdue debts.
"Account Debtor" refers to an individual or entity whose debt has exceeded the due date for payment, making them liable for late fees or penalties under the contract terms.
Definition of "Account Debtor" for unsecured credit
This definition connects "Account Debtor" to unsecured credit.
"Account Debtor" means the borrower who has received an unsecured credit line or loan, and is responsible for repayment without collateral securing the debt.
Definition of "Account Debtor" for debt restructuring
This definition applies "Account Debtor" to debt restructuring.
"Account Debtor" refers to an entity or individual who is in the process of negotiating or restructuring their debt obligations with creditors to address financial challenges.
Definition of "Account Debtor" for cross-border transactions
This definition ties "Account Debtor" to cross-border transactions.
"Account Debtor" means the party responsible for repaying debts arising from cross-border transactions, where payments are due under international contractual terms.
Definition of "Account Debtor" for a secured loan
This definition links "Account Debtor" to a secured loan.
"Account Debtor" refers to a borrower who is obligated to repay a secured loan, with collateral tied to the debt, and is responsible for repayment according to the loan terms.
Definition of "Account Debtor" in relation to debt consolidation
This definition connects "Account Debtor" to debt consolidation.
"Account Debtor" means an individual or entity whose debts are being consolidated into a single repayment plan, often with revised terms to facilitate easier payment.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.