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Q.

What is the difference between drawer and drawee payer and payee?

Asked by prk sastry, 10 Jul '08 02:20 pm
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Answers (10)

1.

Drawer - the person who writes on the cheque (ie he is having an a/c in a bank from which he is transfering the money)
drawee - the bank which draws his (drawer's) cheque
payee - to whom the person pays the money through his bank
payer - a general term for one who pays an amount to another (not much of importance compared with the above i guess)
Answered by balamurali, 21 Mar '12 11:56 am

 
  
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2.

Drawer = The person who is going to draw
Drawee = The person who is going to receive the money
Payer = The person who is going to pay
Payee = The person who is going to receive the money
Answered by peetu sanju, 10 Jul '08 02:27 pm

 
  
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3.

Drawer and payer - the person who pays the money
drawee and payee - the person who gets the money
Answered by King Raja, 10 Jul '08 02:25 pm

 
  
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4.

Drawer : the person who draws the bill.
drawee: the person upon whom the bill is made or drawn.
Payee : the person who is going to receive the money.
in some cases the drawer and payee can be the same person.
Source: accountacy book of f y b.com (pune university)
Answered by varun rane, 11 Jun '12 11:50 am

 
  
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5.

Drawer = The person who is going to draw
Drayee = The person who is going to receive the money
Payer = The person who is going to pay
Payee = The person who is going to receive the money
Answered by rabin chakraborty, 10 Jul '08 02:26 pm

 
  
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6.

Drawer is the one who draws and payer is the one who pays whereas payee is the reciver
Answered by ankit kumar, 10 Jul '08 02:21 pm

 
  
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7.

Drawer -the person who draws the money
Drawee- the person who receives the money.
Payee-The party in an exchange who receives payment
Answered by Ankit maheshwari, 13 Dec '11 10:56 am

 
  
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8.

7.Drawer, Drawee. The maker of a bill of exchange or cheque is
called the drawer "; the person thereby directed to pay is called the
" drawee" .
Drawee in case of need. When in the bill or in any endorsement
thereon the name of any person is given in addition to the drawee to
be resorted to in case of need, such person is called a " drawee in
case of need ".
Acceptor. After the drawee of a bill has signed his assent upon
the bill, or, if there are more parts thereof than one, upon one of
such parts, and delivered the same, or given notice of such signing to ...more
Answered by Prakash Pandey, 20 Feb '10 11:57 am

 
  
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9.

The person on whom an order or bill of exchange is drawn; -- the correlative of drawer.

In the case of coupon payments from bonds, the party receiving the coupons is the payee, whereas the bond issuer would be referred to as the payer
Answered by Indra Datta, 10 Jul '08 02:25 pm

 
  
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10.

A drawer is the person who writes a check or draft instructing the drawee to pay someone else. drawee is the person (or bank) who is expected to pay a check or draft when it is presented for payment. payee is a person to whom money is paid
Answered by ChaluTakla, 10 Jul '08 02:21 pm

 
  
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