Buyer

Definition : Private buyer :
Any commercial entity that can be taken to court by a creditor under common law procedures and, if necessary, be wound up for insolvency
Public buyer :
Any commercial entity for whom the state of the country of residence accepts liability. The buyer may be the State itself, an emanation of the State or any public establishment which cannot be wound up by court order. By extension, this buyer may be any entity whose obligations are covered by the State.