| The defendant stopped the cheque, which was accordingly dishonoured by the drawee bank. |
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| Secondly, he undertakes that, on due presentment of the bill to the drawee, it will be duly accepted and paid. |
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| That bank presents the banker's draft for payment to the drawee bank through the usual clearing channels available for cheques. |
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| The effect of all this activity was that all bills ended up in the hands of the original drawee so that nothing actually passed under them. |
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| Alternatively, an image of the cheque may be electronically transmitted to the drawee bank. |
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| It simply remits the cheque to the drawee bank through the clearing house, and transmits an advice of the receipt of the cheque to the collecting bank. |
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| With the bill of exchange protest, a notarization will be obtained stating that the drawee has not paid the bill. |
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| A bill of exchange is an order to pay and involves three parties: a drawer, a drawee, and a payee. |
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| The bank giro credit, which is delivered to the drawee bank and not to the payee, is payable as soon as the drawee, viz. the originator's bank, can make payment. |
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| The buyer or his bank signs the bill as drawee and thereby becomes acceptor. |
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| They also deny that the payee bank benefits from services carried out by the drawee bank. |
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| The commission is intended to cover part of the cost to the drawee bank of processing acceptance giro forms. |
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| It was stressed that both drawee and payee banks were free to charge other parties concerned costs for processing acceptance giro forms. |
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| Typically, the drawee is in debt to the drawer who, in turn, is in debt to the payee. |
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| The vendor is recorded on the bill of exchange as the drawer, and your company code is entered as the drawee. |
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| The concept gives a payee a direct right of recourse against the drawee bank, although if there are no funds then generally the drawee does not have to pay. |
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| In the first place, he instructs the drawee to honour the bill. |
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| As a consequence, the bearer cannot cash the check in but needs to deposit it on its current account, so that his bank can present it to the drawee. |
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| Since the banks assume that the advantages of processing by the drawee bank are of equal benefit to the payee and to the drawee bank, the interbank commission is set at half of the drawee bank's processing costs. |
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| Check 21 requires all drawee banks to accept substitute checks from depository banks in lieu of original checks. |
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| Any instance where a corporate entity has no explicit authorization to act as an agent of a CPA member FI in delivering core functions of a drawee, the pre-funded debit program will be contrary to the CPA's PT Policy. |
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| It is the characteristic feature of a draft that it is not limited to the three-cornered relationship among drawer, drawee, and the named or unnamed creditor. |
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| Upon due notice of dishonour, the holder of the draft may claim payment from any endorser whose signature appears on the instrument, and he in turn may claim from prior endorsers, from the drawee, and from the drawer. |
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| Endorsement transfers the rights of the endorser to the new holder and also creates a liability of the endorser for payment of the amount of the draft if the drawee does not meet payment when the draft becomes due. |
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| It directs the drawee to pay an indicated amount to the drawer. |
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| If a bearer cheque is lost or destroyed the owner shall be entitled to submit an objection to payment of its amount to the drawee. |
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| In their view, the costs associated with the processing of the payment order up to the point where payment can be made should properly be borne by the drawee bank. |
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| When bills of exchange are not to be paid or only partially paid, the house bank informs the bank at which the bill of exchange was presented, or the bank which presented the bill of exchange for payment at the drawee bank. |
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