Definition of Drawee. Meaning of Drawee. Synonyms of Drawee

- A bill of exchange or "draft" is a written order by the drawer to the drawee to pay money to the payee. A common type of bill of exchange is the cheque...
- bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party...
- In a case where the payee and drawee of a time draft are distinct parties, the payee may submit the draft to the drawee for confirmation that the draft...
- a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay the amount of money stated to the payee. Although forms of cheques...
- cheques issued by a drawer to the drawee branch. The physical instrument is truncated at some point in route to the drawee branch and an electronic image...
- cheque has to be presented to the drawee bank for payment. Originally this was done by taking the cheque to the drawee bank, but as cheque usage increased...
- guaranteed funds because the bank, rather than the purchaser, is both the drawee and drawer and is responsible for paying the amount. They are commonly required...
- 'walks' because they were cleared by being hand-delivered ("walked") to the drawee banks by messengers from the Clearing House. By the 1990s, most of these...
- government, “as drawee of commercial paper stands in no different light than any other drawee” and could recover on a check as a drawee from a person who...
- language, it is a written order from one party (the drawer) to another (the drawee) to pay a specified sum on demand or on a specified date to the drawer or...