What Does Obligee Mean?
An obligee is a person or entity for whom someone else must do something, as stipulated in a contract.
An obligee is also known as a promisee.
Obligee
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Insuranceopedia Explains Obligee
For every obligee there is a corresponding obligor, the one who is obliged to do something for the former in order to fulfill a promise in the contract.
The obligee can be a bank, a credit company, or a person who gets a surety bond to make sure that another person will complete something as contractually promised. Insurance policyholders are also obligees, insofar as their insurance contract stipulates that they are obliged to pay premiums to the insurance company.
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Synonyms
Promisee
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