Anibal Jose Baez
Ok, I have a question/observation here. I thought it was like this:
DRAWER: The PERSON you happen to have. Then the ADMINISTRATOR must complete this DRAFT/BILL OF EXCHANGE. Just like in any business, administrators get paperwork for them to complete, and after completion they SIGN AUTHORIZED BY: (SIGNATURE HERE), include along CONSIDERATION (certified birth certificate), and then send back the completed paperwork to a department, which happens to be the PAYEE/BENEFICIARY.
Once the ADMINISTRATOR completes these tasks, his/her OBLIGATION is OVER.
DRAWEE: It is the place were the SURETY is kept. The bank that will finally be responsible to DISCHARGE this DRAFT/BILL. In the case of the USA, my knowledge is that it is the "Federal Reserve Bank". In Canada, it is the BANK OF CANADA. Why the Treasury? :/ I do not know why would all sureties would be held there. That's Free-Dumb stuff.
PAYEE (BENEFICIARY): The party who will get ultimately get the BENEFIT of that money of account. In this case it would be the UNITED STATES TREASURY.
It is the OBLIGATION of the PAYEE/BENEFICIARY to send this completed DRAFT to the DRAWEE, for complete discharge of the account.
If the PAYEE/BENEFICIARY does not send the completed DRAFT/BILL OF EXCHANGE to the DRAWEE, it is NOT the problem of the DRAWER. It has NOTHING to do with the DRAWER.
Scott Duncan, and/or Pete Daoust, please correct me if this is disinformation and/or lies. Thanks!