drawee
noun[C]
uk/drɔːˈiː/usBANKING(alsodrawee bank)
thebankthatpaystheamountofmoneythat is written on achequeorbankdraftby theownerof anaccountat thatbank:
A drawee isresponsibleforknowinghis drawer’ssignatureand cannotrecoupfrom thepersonwhopresentedthedraftif itturnsout that the drawer’ssignaturewasforged.
FINANCE,COMMERCE
thepersonorcompanythatacceptsandpaystheamountofmoneywritten on abillofexchange(=documentused intradethatorderspaymentforgoodsorservices):
When abillofexchangeisdrawnby aselleron abuyer, thebuyerbecomesthe drawee, thepersonupon whom thebillisdrawn.
Compare
drawer
payee