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refer to drawer


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Words written on a cheque that is being dishonoured by a bank, usually because the account of the person who drew it has insufficient funds to cover it and the manager of the bank is unwilling to allow the account to be overdrawn or further overdrawn. Other reasons for referring to the drawer are that the drawer has been made bankrupt, that there is a third-party debt order against the drawer, that the drawer has stopped it, or that something in the cheque itself is incorrect (e.g. it is wrongly dated, words and figures don't agree, etc.). The words ‘please re-present’ may often be added, indicating that the bank may honour the cheque at a second attempt.

Subjects: Financial Institutions and Services — Accounting.


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