Drawee

A drawee is a person or entity that is ordered to pay a certain amount of money to the payee. The drawee is typically a bank or other financial institution. The drawee is responsible for ensuring that the payee receives the money that is owed to them.

There are two types of drawees:

* **Primary drawee:** The primary drawee is the person or entity that is actually responsible for paying the money. This is typically a bank or other financial institution.
* **Secondary drawee:** The secondary drawee is the person or entity that is responsible for paying the money if the primary drawee is unable to do so. This is typically a guarantor or surety.

The drawee is responsible for ensuring that the payee receives the money that is owed to them. This means that the drawee must have the funds available to pay the payee. If the drawee does not have the funds available, they may be able to get a loan from a bank or other financial institution.

The drawee is also responsible for ensuring that the payment is made in a timely manner. This means that the drawee must make the payment within the time period that is specified in the document. If the drawee does not make the payment on time, they may be subject to penalties.

The drawee is an important part of the payment process. They are responsible for ensuring that the payee receives the money that is owed to them.