Definitions for "drawee"
Related Terms:
Drawer, Check, Cheque, Banker's draft, Bank draft, Paying bank, Draft, Bankers draft, Bank check, Accepting bank, Negotiating bank, Draft, Letter of credit, Bankers acceptance, Bankers' acceptance, Bill of exchange, Documentary credit, Bank cheque, Advising bank, Sight draft, Confirming bank, Letters of credit, Reimbursing bank, Presenting bank, Acceptor, Certified check, Bank guarantee, Official check, Cashiers check, Account party, Standby letter of credit, Remitting bank, Clearing, Agent bank, Cashier's check, Correspondent bank, Confirmed letter of credit, Giro, Negotiable order of withdrawal account, Irrevocable credit, Cashier, Collecting bank, Money order, Standing order, Opening bank, Honor, Documents against payment, Acceptance credit, Bank guarantee
The person on whom an order or bill of exchange is drawn; -- the correlative of drawer.
In the case of a cheque, this is the bank that will pay the cheque. (In other words, the bank which will pay the amount written on the cheque.)
The party to a Bill of Exchange from whom payment will be due in the future and on whom the Bill is drawn. Also known as the Acceptor.
Party to whom a check or draft is written, also called the payee.
see Bill of Exchange
In general, this indicates the individual or firm on whom a draft is drawn and who owes the indicated amount. In an international trade transaction, the drawee may be: (1) The person or firm to whom a draft/bill of exchange is addressed and who is expected to accept it and pay it on maturity (i.e., the importer).(2) The bank on which the cheque was drawn and which cashes the cheque to the debit of the drawee if the necessary cover is available. Français: Tiré Español: Librado
The individual or firm that issues a draft and thus stands to receive payment.
The party directed to pay the amount of a draft or check.
The party that receives payment on a draft.
Party to whom a draft is addressed and from whom payment is demanded, or, in a documentary collection with no draft, party from whom payment is requested in exchange for delivery of documents.
Natural or legal person responsible for the bill of exchange.
the person (or bank) who is expected to pay a check or draft when it is presented for payment
a party , typically a bank, required to pay out money when a check or draft is presented
The person on whom a bill of exchange or a draft is drawn.
The firm or person who owes the stated amount on the draft.
The drawee (usually the bank) pays the payee (usually the importer) on behalf of the drawer (usually the exporter) according to the terms of the draft that the bank has issued for the drawer. The drawer then presents payment to the drawee according to the terms of the collection order contained in the draft. (Example: In a typical checking transaction, the bank is the drawee of the check, the person writing the check is the drawer and the person to whom the check is written is the payee.)
The individual or firm on whom a draft is drawn and who owes the stated amount. Compare Drawer. Also see Draft.
The person to whom a bill of exchange/draft is addressed and who is expected to accept and/or pay it upon presentation. (Note: for Documentary Credit bills, the drawee is usually the DC issuing bank).
the party to whom a check or draft is written
The party on whom the Bill of Exchange is drawn and who is required to accept and/or pay it.
Party on whom a bill is drawn and the one to whom presentation is to be made according to the collection order - the importer (NB: for DC bills, the drawee is usually the DC issuing bank).
The person or entity on whom a draft is drawn by the drawer.
Party on whom a bill of exchange is drawn, i.e. who is required to make payment. In the context of collections, usually the buyer. In letters of credit, the drawee is usually a bank.
The party to whom a draft is addressed and who is expected to accept and/or pay it upon presentation. Usually the importer under a Documentary Collection or issuing bank under a Documentary Credit.
The individual or firm on whom a draft is drawn and who owes the stated amount to the drawer.
The party to whom the drawer issues instructions to make payment. In the case of checks, the drawee is bank or other financial institution.
The party required to pay the amount owed on a cheque/draft.
The party who is directed to pay money as specified in a draft.
Person or company who will pay the collection