Meaning & use
obligor
Last updated
a person or entity who is legally bound to another party to perform a duty or make a payment.
See it in a sentence
Under the loan agreement, the obligor must repay the principal with interest each month.
If the obligor defaults, the guarantor becomes responsible for the debt.
A note on using this word
A formal legal term used mainly in contracts and finance; its counterpart, the 'obligee,' is the party owed the obligation.
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