What does Obligee mean? Read on to discover the definition & meaning of the term Obligee - to help you better understand the language used in insurance policies.
A person or organization to whom another party (the "obligor") owes an obligation. In a bonding situation, this is the party that requires and receives the protection of the bond. For example, under a performance bond, the obligee is the project owner for whom the bonded contractor is required to perform the specified work.
We hope the you have a better understanding of the meaning of Obligee.