Explanation:

A person to whom money is paid or is to be paid, especially the person to whom a cheque is made payable.A payee is a party in an exchange who receives payment. The payee is paid by cash, check, or another transfer medium by a payer

The drawee is the party that pays the sum specified by the bill of exchange

The drawer is the party that obliges the drawee to pay the payee. The drawer and the payee are the same entity unless the drawer transfers the bill of exchange to a third-party payee.

So payee is the correct option.