Glossary:


Term - D : Drawer/ Drawee

Drawer/ Drawee


Drawer/ Drawee

The person who makes or draws a bill or cheque is the drawer. The person or entity on whom the bill is drawn is the drawee. The person who has to make the payment draws a cheque and the bank is the drawee. In the case of bills of exchanges (say, drawn under letters of credit) the beneficiary who has to receive payment is the drawer of the bill and the person who has to make payment is the drawee of the bill
Previous
Next