Different Parties of Bill of Exchange

Drawer 
It's the person who is that the maker of the bill of exchange. it's the person who has sold-out the goods and for receiving the payment from the debtor he attracts a bill of exchange.

Drawee or Acceptor
 It's the person on whom the bill of exchange is drawn and he has to make the payment to the supplier of goods.

Payee
It's the person to whom the payment has to be created. it may be the drawer himself if he has not discounted the bill with any third party.