Definition of Obligee:
Obliging party (bond holder, creditor, lender, insurance policy holder, etc.) in whose favor a promise is made or an obligation is entered into by an obligor, under the terms of an agreement. Also called promisee.
A person to whom another is bound by contract or other legal procedure.
How to use Obligee in a sentence?
- Jason decided it was best not entrust his business with the obligee due to their past affiliations with shady and corrupt organizations.
- I was volunteered as the obligee and would have to do what no one else wanted to do and I cursed myself for my kindness.
- The surety in a construction bond has three options: complete the work itself; retain a contractor to complete the work; or permit the obligee to complete the contract and pay any increased cost of such work.
- If you are the obligee then you should try to do what you need to as quick as possible so the other party will be happy to do future business together.
Meaning of Obligee & Obligee Definition