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Hi,
can somebody explain to me who is the drawer (seller or buyer), drawee and payee?
On the internet I found in many resources that the drawer is the seller. But in the support course found on Opentuition writes that the drawer is the buyer.
Thank you,
Camelia
I owe you money! I instruct my bank (in writing) to pay money to you.
So I write a cheque (or payment order) payable to you
I’m the drawer, my bank is the drawee and you are the payee
The reason why I owe you money? I bought some goods from you! So the buyer is the drawer, the seller is the payee and my bank is the one that controls my overdraft!
Ok?
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