what is mean by Drawer ,Drawee and payer and payer
I need some examples with clear explanation
negotiable doubt help me
6 Replies
gaddala ramesh
(163 Points)
Replied 30 March 2023
Drawer and payer means giver, payee & drawee means receiver
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 30 March 2023
X issued cheque to Y for some payment , here X is Drawer, Y is Drawee
1) Drawer means the person who draws a cheque
2) Drawee means the person on whom cheque has been drawn.
3) " A/c payee only " , is safest way to make a payment through cheque, we write on right hand side above on the cheque with cross , in this Case money will be credited to in drawee account only.
4) payer is person who pays money to drawee for example Bank .
1) Drawer means the person who draws a cheque
2) Drawee means the person on whom cheque has been drawn.
3) " A/c payee only " , is safest way to make a payment through cheque, we write on right hand side above on the cheque with cross , in this Case money will be credited to in drawee account only.
4) payer is person who pays money to drawee for example Bank .
MPR Sanjay Kumar
(3118 Points)
Replied 30 March 2023
@ Prasad nillugal sir simply
Mr Sanjay and Mr sruthi is there ,sruthi owes from Sanjay 1 lakh .....so here Shruti is liable to pay to Sanjay
Here Sanjay is a drawer and sruthi is drawer
IAM I right sir??
prasad Nilugal
( GST Practitioner & Accounts )
(14846 Points)
Replied 30 March 2023
Sruthi owes from Sanjay 1 lac , So Sanjay will issue cheque of Rs 1 Lac to Sruthi.
Sanjay - Drawer and Sruthi - Drawee.
Sanjay - Drawer and Sruthi - Drawee.
sabyasachi mukherjee
(27642 Points)
Replied 06 April 2023
Drawer drawee ,payer, Payee all are terms as per NI ACT.
DRWEE IS A PERSON WHO ISSUES THE CHEQUE.
DRWEE IS A PERSON WHO ISSUES THE CHEQUE.
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