An obligor is a person who is legally mandated to do something for someone else. In most cases, they are obliged to pay a debt on schedule as written in a contract.
An obligor is often synonymous with a debtor. The one who provides the loan is called the obligee or debtee.
The term is most often associated with a person who owes money to someone and has been obliged by contract to pay it on time along with the accumulated interest. It can, however, be applied in other cases. A distributor may, for example, have a contract with a seller (the obligor) that prevents them from selling their rival's products.
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