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Bill discounting

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(Querist)
25 January 2015 who vl get the bill discounted drawee or payee........ if payee discounts the bill, from whom bank has to collect money on due date....
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P V Ram

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P V Ram (Expert)
25 January 2015 Bill is discounted by the drawer or his creditor if drawer endorses in favour of his creditor.

Drawer can be payee as well.

on due date, drawee has to pay the amount to the bank and in case he fails, drawer has to make good the amount.

Thanks

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