sacados

Sacados is a term used in Portuguese-speaking financial practice to designate the drawee in negotiable instruments such as bills of exchange and cheques. In this context, a bill of exchange is drawn by the sacador (drawer) on the sacado (drawee), who is obligated to pay the stated amount at maturity or on demand if the instrument is payable on demand. The beneficiary or holder of the instrument can demand payment from the sacado, subject to the instrument’s terms and any required acceptance.

In a bill of exchange, the sacado becomes liable if he accepts the instrument (aceite) or, in some cases, through statutory liability at maturity when the instrument is due. If the sacado refuses to pay, the instrument may be dishonored, exposing the drawer and endorser to liability.

In the context of cheques, the sacado is typically the bank or the person on whom the cheque is drawn; the bank is responsible for honoring the cheque at presentment, subject to funds availability and local banking rules. The use of the term varies by jurisdiction, but it generally corresponds to the English term drawee and to the Spanish term librado.

The concept of sacado is part of the broader framework of credit instruments governed by national civil and commercial law. In Brazilian Portuguese, it is a standard term; in other Portuguese-speaking countries the usage is similar. The neutral equivalent in English is drawee; in Spanish, librado.