What is Drawee?
Drawee The financial institution or party upon whom a check, draft, or bill of exchange is drawn and which is ordered to pay the specified sum to the payee.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Drawee” Used in Practice?
The drawee, usually a bank, verifies funds and processes payment on behalf of the drawer to the payee.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Drawee?
The financial institution or party upon whom a check, draft, or bill of exchange is drawn and which is ordered to pay the specified sum to the payee.
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