WebDrawee is the party that has been ordered by the drawer to pay a certain sum of money to the person presenting the check (the payee). Usually, the drawee is the … WebFeb 7, 2024 · The drawee is the entity or person to whom a bill is addressed and is given instructions to pay. In most cases, when a check (bill of exchange) is being drawn, the party said to be the drawee is normally a banker. In a financial transaction, a drawee typically serves as an intermediary. The primary purpose of the drawee is to channel and direct ...

Drawee definition and meaning Collins English Dictionary

WebThe individual or firm that issues or signs a draftinstructing the draweeto pay a specified sum of money to, or to the orderof, a named person (payee), or to bearer. In the case of a draftto one´s order, the drawer is also the payee. Like the endorser(s), the drawer is secondarily liable on the draft. Webthe person or company that accepts and pays the amount of money written on a bill of exchange (= document used in trade that orders payment for goods or services): When a … table ribs

Drawee - Definition, Meaning & Synonyms

WebDrawee. The individual or firm on whom a draft is drawn. The drawee is instructed by the drawer to pay a specified sum of money to, or to the order of the payee, or to the bearer. In a documentary collection, the drawee is generally the buyer. See bill of exchange; draft; documentary collection; drawer. Related entries Webdrawee in American English (ˌdrɔˈi ) noun the party that the drawer directs, by means of a bill of exchange, order, draft, etc., to pay money over to a third party ( called payee ) … WebDrawee. The individual or firm on whom a draftis drawn. The drawee is instructed by the drawerto pay a specified sum of money to, or to the orderof the payee, or to the bearer. … table resurface ideas