0 the bank that pays the amount of money that is written on a cheque or bank draft by the owner of an account at that bank:
1 the person or company that accepts and pays the amount of money written on a bill of exchange (= document used in trade that orders payment for goods or services):
In some cases, the payee will take the cheque to a branch of the drawee bank, and cash the cheque there.
Such confirmation is called an acceptance the drawee accepts the order to pay as legitimate.
The question is to whom the drawee may make the payment.
Truncation means, stopping the flow of the physical cheques issued by a drawer to the drawee branch.
If the drawee is a bank, the acceptance is called a banker's acceptance.
The party upon whom the bill is drawn is called the drawee.
A sahyog hundi passes from one hand to another till it reaches the final recipient, who, after reasonable enquiries, presents it to the drawee for acceptance of the payment.
A drawee is answerable to the drawer.
