/ˈpeɪɪŋ ˈpɑrti/ – Noun
Definition: Bên thanh toán.
A more thorough explanation: 1. the person or institution that must pay for something, especially something official or otherwise important or formal
2. the person who must pay the other side’s legal costs at the end of a court hearing
Example: 1. Royalty payments due hereunder shall be paid and delivered by the paying party before one month after the last day of each fiscal year of the paying party.
2. The paying party should receive a note of the other party’s costs.