drawee

Related Terms
Entity that is expected to accept and pay a bill of exchange (check, draft, letter of credit, etc.) on presentation or on a certain date (called due date or maturity date). See also payee.

Use 'drawee' in a Sentence

I was the drawee and needed to take things out of the bank and give them to another person that day.
18 people found this helpful
You should always make sure to be on time as the drawee so that you can continue to get credit in the future.
16 people found this helpful
Our company served as the drawee for the Insurance company. We collected the money through their monthly T&I payment, and then paid the premium once it was due.
14 people found this helpful




Email Print Embed


Mentioned in These Terms