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English definition of “payable”

payable

adjective [after verb]
 
 
/ˈpeɪəbl/
FINANCE used for saying how or when an amount of money should be paid: The fees are payable monthly.payable in sth The debt is payable in one lump sum or by instalments.payable on January 1st/22nd May, etc. The final dividend will be 1.15p, payable on August 29. Payment by check of cash dividends will ordinarily be mailed within three business days after the payable date.
BANKING if a cheque is payable to a person or an organization, the money will be paid to them because their name is written on it: Please make your cheque payable to Oxford Ecobuild.
payable on demand FINANCE used to describe a loan that may have to be paid back at any time, with little or no warning: Many business loans are payable on demand.
payable to bearer FINANCE used on a bond, cheque, etc. to state that the amount of money shown should be paid to the person who brings it for payment: Where a bill is not payable to bearer, the payee must be named.
payable to order FINANCE used on a bond, cheque, etc. to state that the amount of money shown should be paid to the person who is named on it: If an instrument is not payable to order or to bearer, it is not negotiable.
→ See also accounts payable, bills payable, dividends payable, note payable
(Definition of payable from the Cambridge Business English Dictionary © Cambridge University Press)
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