Who executes a draft?

The drawer is the individual or entity that creates and signs the draft, essentially instructing the drawee to pay a specified sum of money to a third party or to the drawer themselves. This role is fundamental in the context of a draft, as the drawer initiates the transaction and sets its terms.

Without the drawer's action, the draft cannot exist; they provide the legal authority for the payment. On the other hand, the drawee is the party responsible for making the payment, but they do not execute the draft; instead, they respond to the instruction given by the drawer. The endorser is someone who transfers their interest in the draft, often endorsing it to another party, and the payor typically refers to the individual or organization that pays the draft, which is often the same as the drawee but does not execute the draft itself. Thus, the function of the drawer is distinct and critical in the execution of a draft.