Define drawer. drawer synonyms, drawer pronunciation, drawer translation, English dictionary definition of drawer. (Banking & Finance) a person who draws a cheque. Define drawee. drawee synonyms, drawee pronunciation, drawee translation, English dictionary definition of drawee. The party on which an order for the payment of money is drawn. n the person or organization on which a cheque or other order for payment is drawn n. Definition of drawee in the Legal Dictionary – by Free online English dictionary and encyclopedia. N. the party who is to be paid on a bill of exchange or check.
Drawer is the party who draws the cheque upon a specified banker. He is the maker of the cheque. Definition of refer to drawer The official Collins English Dictionary online. A request by a bank that the payee consult the drawer concerning a cheque payable by that bank (usually because the drawer has insufficient funds in his account), payment being suspended in the meantime. There are three parties to the cheque- Drawer (maker of the cheque), Drawee (bank on which the cheque is drawn), Payee (to whom the amount of the cheque is payable).
On the back of my banks paying in slip it says. There’s space to enter details of each cheque, but what do I put in the Name of drawer box? Is it simply the name of the company or individual who has signed the cheque?. Refer to drawer means that clarifications have to be sought from the person who issued the cheque. The reasons may vary from case to case, such as insufficient funds in the drawer’s account. Definition of drawernoun in Oxford Advanced Learner’s Dictionary.
Parties To A Cheque Or Parties Involved In A Cheque
If one takes a close look at the definition of a cheque, it becomes clear that a cheque has the following 10 essential elements or characteristics. A cheque can be drawn on a bank where the drawer has an account, saving bank, or current. To draw a cheque – Could someone explain me what does this exactly mean? Here is the relevant OED definition: To write out in due form an order to pay money on the writer’s account; to write out (a bill, cheque, or draft). These cheques are used where the drawer of the cheque is not trust worthy. Chequebook definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation. As soon as the man entered Dorian pulled his chequebook out of a drawer, and spread it out before him.