What is drawee of a bill of exchange in SAP FI - Financial Accounting?

SAP Term: drawee of a bill of exchange

• Component: FI

• Component Name: Financial Accounting

• Description: The person to whom the payment order is addressed. The drawee is obligated to pay, on the due date of the bill, the sum of money specified on the bill.

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• Key Concepts: 
  A drawee of a bill of exchange is the party to whom the bill is addressed and who is obligated to pay the amount specified on the bill. In SAP Financial Accounting (FI), a drawee is typically a bank or other financial institution. 
  
  How to use it: 
  In SAP FI, a drawee can be specified in the payment program when creating a payment document. The drawee will then be printed on the payment document and will be used to identify the party responsible for paying the amount specified on the document. 
  
  Tips & Tricks: 
  When specifying a drawee in SAP FI, it is important to ensure that all information is accurate and up-to-date. This will help to ensure that payments are made correctly and on time. 
  
  Related Information: 
  The drawee of a bill of exchange is related to other terms such as drawer, payee, and endorser. The drawer is the party who creates the bill of exchange, while the payee is the party who receives payment from the drawee. The endorser is a third party who guarantees payment of the bill of exchange.