Question

Who Keeps the Bill of Exchange?

Answer 1

In normal circumstances, the drawer of the bill keeps the bill of exchange till the date of its payment, in that he becomes the payee. This can change if the drawer has got the bill discounted.

In this case the person who discounted the bill of exchange becomes the payee.

In the second scenario, if the bill of exchange is drawn on any creditor of the drawer, then the creditor will become the payee.