Drawer: Drawer is the person who writes on the cheque. The person is having an a/c in a bank from which he the money is to be transferred.Drawer is the person who pays the money.
Drawee: Drawee is the bank which draws the drawer’s cheque.
Payee: Payee is the party who receives the payment.The name of party is specified on the cheque.
In the cheque shown below Jagdish Y is payee, ICICI Bank Ltd is Drawee and theTime 2 Rich (Who has signed on the cheque) is Drawer.
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