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

Example Sentences

I am not the drawee described in the bill.'

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

The drawee is allowed twenty-four hours after presentment to decide whether or not he will accept the bill; but the acceptance, if given, dates from the day of presentation.

From Putnam's Handy Law Book for the Layman by Bolles, Albert Sidney

After that the bill is a double obligation of the drawer and the drawee, and may be discounted in the open market, for cash.

From Elements of Foreign Exchange A Foreign Exchange Primer by Escher, Franklin

The person thereby required to pay is called the drawee.

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

Acceptance.—By the acceptance of a bill the drawee becomes the principal debtor on the instrument and the party primarily liable to pay it.

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