Parties Involved in a Cheque

Who are the parties involved in a cheque

Generally, there are three parties connected with the cheque; they are drawer, drawee and payee.

Drawer

The person or firm who opens account and deposits money into bank is known drawer.

He/she writes and issues the cheque.

Only bank account holder can issue the cheque.

Drawee

For cheque purpose bank is drawee.

The cheque is drawn on bank.

Bank pays amount of cheque.

There must be sufficient amount in the bank to pay amount of cheque.

Payee

The person or the firm whose name is in cheque, he is known as payee.

But, when drawer or depositor writes the cheque for himself, drawer becomes payee.

In this condition, drawer and payee are same.

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