👉 The term "drawee" refers to a party that receives funds or assets from another party, typically an institution or entity. These parties are often referred to as recipients, and they have the right to receive the funds or assets in exchange for their payment of interest, fees, or other charges associated with the transaction. Drawees can be individuals, corporations, governments, or any other entity that has made a deposit or loan to another party. In the context of international transactions, drawee status is
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What is the definition of Drawee? 🙋
👉 Drawee is a term used in financial transactions and banking, specifically related to the transfer of funds from one account to another. The term is often associated with bank transfers or wire transfers. In the context of banking, a drawee typically refers to a third party who receives funds from an originating bank, such as a check or credit card payment. This can occur when a customer makes a purchase at a store using their credit card and the merchant either accepts the payment or sends it to a specific account
