drawee

American  

[draw-ee] / drɔˈi /

noun

Finance.

1. a person on whom an order, draft, or bill of exchange is drawn.

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drawee British  

/ drɔːˈiː /

noun

1. the person or organization on which a cheque or other order for payment is drawn

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Etymology

Origin of drawee

First recorded in 1760–70; draw + -ee

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Example Sentences

See Examples For:

drawee

Sometimes the drawer or indorser has reason to expect that the bill may be dishonoured by the drawee.

From Encyclopaedia Britannica, 11th Edition, Volume 3, Slice 7 "Bible" to "Bisectrix" by Various

I am not the drawee described in the bill.'

From Memoir, Correspondence, And Miscellanies, From The Papers Of Thomas Jefferson, Volume 1 by Thomas Jefferson Randolph

The bill forms good security, because, when accepted, John Smith is bound to pay the thousand pounds when due, and if he fails, the drawee is liable.

From Political economy by W. Stanley Jevons

The person thereby required to pay is called the drawee.

From Encyclopaedia Britannica, 11th Edition, Volume 3, Slice 7 "Bible" to "Bisectrix" by Various

In the case of a draft or check, the person ordering the payment is called the drawer; the person addressed, the person drawn upon or the drawee; and the person to be paid, the payee.

From Studies in Civics by J. T. (James Thompson) McCleary

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