Examlex
The main issue in the design of process layouts concerns the relative positioning of the departments involved.
Drawer
In the context of banking, the person who writes or issues a check or draft instructing the drawee to pay someone else.
Drawee
The party upon whom a cheque or draft is drawn, and who is expected to pay the amount specified to the payee.
Payee
The individual or entity to whom a cheque or electronic payment is made payable.
Negotiability
The characteristic of a document, typically a financial instrument, that allows it to be transferred or assigned from one party to another as a form of payment or investment.
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