Obligee
Updated: 20 November 2024
What Does Obligee Mean?
An obligee is a person or entity for whom someone else is required to fulfill an obligation, as specified in a contract.
The obligee is also referred to as the promisee.
Insuranceopedia Explains Obligee
For every obligee, there is a corresponding obligor, the individual or entity that is obligated to fulfill a promise or duty as outlined in the contract.
The obligee can be a bank, a credit company, or a person who secures a surety bond to ensure that another party will complete an agreed-upon task. Insurance policyholders are also considered obligees, as their insurance contracts stipulate that they are required to pay premiums to the insurance company.
Synonyms
Promisee
