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How to determine the drawer, payer and payee of a bill of exchange?
Drawer: a legal person, other organization or individual who issues bills and delivers them to others. The drawer shall be responsible for ensuring that the bill must be paid or accepted when it is presented for payment or acceptance. After the drawer gives the signed bank acceptance bill to the payee, the act of issuing the bill is completed.

Payer: refers to the person entrusted by the drawer to pay the amount of the bill and the person who accepts the power of attorney for payment. In import and export business, it is usually an importer or a bank. Under the mode of payment by letter of credit, it is usually the issuing bank or its designated bank.

Payee: the person who asks the payer to pay the bill amount by bill. Is the creditor of the bill of exchange, usually the seller and the payee.

Extended data

The drawee is the bank that the drawer of the bank acceptance bill records on the bill and entrusts it to pay the amount of the bill. Of course, the payer becomes the debtor of the bill not because of the entrustment of the drawer, but because of its acceptance. The drawee before acceptance of the bill is the drawer, and the accepting bank after acceptance is the drawee and the principal debtor of the bank acceptance of the bill.

The payee is the original holder who received the bill amount recorded on the bill. The name of the payee shall not be changed, and the changed bank acceptance bill is invalid. The date of issue must be written in accordance with the provisions of Annex I of the Measures for Payment and Settlement.

Baidu Encyclopedia-Draft