drawee [draw-ee] ExamplesWord Origin noun Finance.
- a person on whom an order, draft, or bill of exchange is .
Origin of drawee First recorded in 1760–70;+ Examples from the Web for drawee Historical Examples of drawee
The person to whom a draft is directed is called the drawee or acceptor.
After a drawee has accepted a draft, he is bound by its terms.
An acceptance must be in writing and must be signed by the drawee.
Drafts payable at sight, or after sight, must be presented to the drawee for acceptance.
This is true of notice to the drawer for failure of a drawee to accept, as well as for failure of an acceptor to pay.
British Dictionary definitions for drawee drawee noun
- the person or organization on which a cheque or other order for payment is drawn