Definition, Meaning & Synonyms
drawee
noun
/ˈdrɔːiː/
Definition
The person or entity on whom a bill of exchange or a check is drawn and who is to pay the amount specified.
Examples
- The bank acted as the drawee in the transaction, ensuring the funds were available for withdrawal.
- In a check transaction, the person’s bank serves as the drawee.
Meaning
In financial transactions, the drawee is the party that is expected to make the payment when a financial instrument is presented to them.
Synonyms
- payer
- obligor
- paying agent
