A form of insurance contract that protects the owners of an establishment in which alcoholic beverages are sold against liability arising out of accidents caused by intoxicated customers who have been served or sold the alcoholic beverages.

Dramshop liability laws are state laws that impose liability upon businesses that serve alcohol to people who are intoxicated and who then leave the establishment and cause injury or property damage to someone else. For example, if a bartender serves alcohol to an obviously drunk customer who then gets in his or her car and causes an accident, the other party to the accident can not only sue the drunk driver for damages but the bar that served the driver as well. The extent to which the bar is responsible varies from state to state. (See Liquor Liability).

A U.S. Customs Law that permits an American exporter to recover duties paid on imported foreign raw materials or components included in products that are subsequently exported out of the United States.

The individual or firm on whom a draft is drawn and who owes the stated amount to the drawer.