That is, the person who issues securities by signing various securities (mainly promissory notes, drafts and checks). The drawer can be an individual, a bank, a shop or a company. Due to the different nature of the bills issued and the different payment methods, the drawer is also different.
In a promissory note, the drawer is the person who promises to pay and is the main debtor of the promissory note. The drawer of a bill of exchange is the payer under remittance settlement mode and the creditor under collection settlement mode and letter of credit settlement mode.
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The drawer must record and sign the bill of exchange. If it is a legal person, it should be signed by its authorized person. The drawer is the debtor of the bill and has the obligation to pay or guarantee payment.
The drawer of a bill of exchange is not directly liable for payment, and the drawer is the principal debtor before the acceptance of the bill; After acceptance, the drawer has the obligation to ensure the acceptance and payment of the drawee. When a bill is refused to be accepted or paid, the holder may exercise the right of recourse against the drawer.
The drawer of a promissory note is the principal debtor and has the obligation to pay directly by himself. The Geneva Convention on the Uniform Law of Bills of Exchange and Promissory Notes stipulates that the responsibilities of the drawer of a promissory note are the same as those of the acceptor of the bill, and the drawer of a promissory note is also regarded as the acceptor of the bill by the British bill law. The drawer of a check has the obligation to guarantee payment.
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