Meaning & use
Drawee
Last updated
In finance and law, the person or institution, such as a bank, on whom a check, draft, or bill of exchange is drawn and who is directed to pay it.
See it in a sentence
The bank, as drawee, verified the signature before honoring the check.
If the drawee refuses to pay, the check is returned marked 'insufficient funds.'
A note on using this word
In a typical check transaction there are three parties: the drawer (who writes the check), the drawee (who pays it, usually a bank), and the payee (who receives the funds).
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