Meaning of obligee

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August undefined, 2024

WebAug 31, 2024 · An obligor is a party that is obligated to do something under the terms of a contract. An obligor can be an individual, a group, or a business. You might be familiar with the term 'obligor' because... Webtransitive verb. 1. : to constrain by physical, moral, or legal force or by the exigencies of circumstance. obliged to find a job. felt obliged to share it with her. 2. a. : to put in one's …

OBLIGEE - Definition and synonyms of obligee in the English …

Webnoun Law. a person to whom another is obligated or bound. a person to whom a bond is given. a person who is under obligation for a favor, service, or benefit. obligor obligee … Webobligee. uk. / ˌɒb.lɪˈdʒiː/. How to pronounce obligee noun in British English. us. / ˌɑː.bləˈdʒiː/. How to pronounce obligee noun in American English. (English pronunciations of obligee … keto microwave blueberry muffin

Obligee Definition & Meaning YourDictionary

WebApr 17, 2024 · An obligor is an individual who owes a benefit or payment to another person, such as child support, alimony, or a payment on a loan. The individual receiving the benefit is known as the obligee, and they benefit from the terms of the contract. WebObligee definition: a person in whose favour an obligation , contract , or bond is created ; creditor Meaning, pronunciation, translations and examples WebThe obligee is who is requiring the principal to post the surety bond. They require the surety bond to transfer the risk of the principal’s performance from themselves to the surety carrier. If the principal does what they say they will do, the bond is null and void. keto microwave cake in a cup

Pronunciation of Obligee Definition of Obligee - YouTube

WebThe popular meaning of the term “obligation” is a duty to do or not to do something. In its legal sense, obligation is a civil law concept. An obligation can be created voluntarily, such as one arising from a contract, quasi-contract, or unilateral promise. WebSurety: Definition, How It Worked with Debenture, and Distinctions Surety bonds am financial instruments that link the principal, the obligee—often a government entity—and the surety. In the case of surety bonds, the collateral is providing a line of credit to the principal so as to reassure the obligee that the main will fulfill their side ... keto microwave bread recipeWebThe Obligee is the party to whom the Obligor owes that performance. In other words, the Obligor is the party who has the responsibility to do something, and the Obligee is the party who has the right to receive that performance. If one party fails to live up to their obligations under the contract, that is called a breach of contract. keto microwave cake in mug

"WebObligee definition: One to whom another is under obligation by a contract or legal agreement. " - Meaning of obligee

Meaning of obligee

OBLIGEE definition in the Cambridge English Dictionary

Web2 days ago · obligee in American English (ˌɑblɪˈdʒi) noun 1. Law a. a person to whom another is obligated or bound b. a person to whom a bond is given 2. a person who is … Webobligee A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more mutually agreeing parties. A contract typically …

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Webthe person or group who must receive something such as a payment or benefit from someone, according to a law or legal agreement: In child support matters, the obligee or … WebAn obligee is person or organization to whom another party (the "obligor") owes an obligation. In risk management, the most common use of this term is in bonding. For example, under a performance bond, the obligee is the project owner for whom the bonded contractor is required to perform the specified work. On This Page Additional Information

WebA: Each surety bond that's issued acts as a three-party contract. The principal purchases the bond to guarantee the quality of work to be done in the future. This is usually a business owner or other professional. The obligee requires the principal to purchase a bond to avoid potential financial loss. This is usually a government agency. WebWould this negatively or positively impact obligee and child? • It appears, as per the ALICE data, that single parent families with a female as head of the household may be in the most precarious position. If this is the case, it is crucial that we do not overcorrect, as statistically most obligees in IL are female.

WebˈSHo͝orədē/. noun. noun: surety; plural noun: sureties. The surety company is a person who takes responsibility for another’s performance of an undertaking, for example their appearing in court or the payment of a debt. In finance, a surety, surety bond or guaranty involves a promise by one party to assume responsibility for the debt ... WebOct 28, 2024 · The obligee is the customer, so to speak. It is the company, individual or governmental entity who will be the recipient of the work. A city who will be having …

WebMost often, the obligee will be a federal, state, or local government agency who is requiring your customer to purchase a bond as a prerequisite to obtaining a business license or …

WebJan 11, 2024 · (n) "Obligee" shall include any bondholder, agent or trustee for any bondholder, or lessor demising to a municipality property used in connection with a project, or any assignee or assignees of such lessor's interest or any part thereof, and the federal government when it is a party to any contract with the municipality in respect to a housing ... is it research or auditWebFeb 9, 2024 · Obligee: a party that will benefit from the principal's performing the obligation; Surety: the party that promises to pay the obligee if the principal fails to perform the obligation; The amount that the surety … is it required to have renters insuranceWebObligee: the party who requires the bond and is protected by the bond Surety: the party who issues the bond For example: contractor license bonds. The obligee is the construction contractor board (the one who … keto microwave cheesecake