Participants and Business Roles Definitions in MX Standards

 

Debtor	Party that owes an amount of money to the (ultimate) creditor. In the context of the payment model, the debtor is also the debit account owner.
Creditor	Party to which an amount of money is due. In the context of the payment model, the creditor is also the credit account owner.
Ultimate Debtor	Ultimate party that owes an amount of money to the (ultimate) creditor.
Ultimate Creditor	Ultimate party to which an amount of money is due.
Debtor Agent	Financial institution servicing an account for the debtor.
Creditor Agent	Financial institution servicing an account for the creditor.
Forwarding Agent	Financial institution that receives the instruction from the initiating party and forwards it to the next agent in the payment chain for execution.
Initiating Party	Party initiating the payment to an agent. In the payment context, this can either be the debtor (in a credit transfer), the creditor (in a direct debit), or a party that initiates the payment on behalf of the debtor or creditor.
Account Owner	Party that legally owns the account.
Account Servicer	Party that manages the account on behalf of the account owner, that is manages the registration and booking of entries on the account, calculates balances on the account and provides information about the account.
Payment Clearing Agent (Instructing Agent)	Agent that instructs the next party in the payment chain to carry out the payment/instruction.
Payment Settlement Agent (Instructed Agent)	Agent that executes the instruction upon the request of the previous party in the chain (either an agreement party, or a clearing agent).
Intermediary Agent	Agent between the debtor's agent and the creditor's agent. There can be several intermediary agents specified for the execution of a payment.