Who pays obligee or obligor?

The obligor is the parent that is required to pay the child support to the other parent, and the obligee, or obliged, is the parent who receives the payment. As a general rule, once a child support amount has accrued, the Obligor is required to pay that amount, regardless of circumstances.

What is creditor or obligee?

OBLIGEE or CREDITOR, contracts. The person in favor of whom some obligation is contracted, whether such obligation be to pay money, or to do, or not to do something.

Who is obligor?

A person who owes a legal obligation to another person. In the context of financing arrangements, an obligor is usually a debtor (for example, a borrower) or someone who has given security or a guarantee for the payment of a debt or the performance of an obligation.

Who is obligor obligee debtor creditor?

active subject (creditor/obligee) – one who demands the fulfillment of an obligation. passive subject (debtor/obligor) – one who has the duty to fulfill an obligation.

What does oblige mean in a sentence?

oblige(ə-blījˈ) (verb) – provide a service or favor for someone. View more definitions below. EXAMPLES – Oblige in a Sentence. Whoever comes closest can oblige everyone else to drink! (source) “Anything to oblige a friend,” she said, rolling her eyes.

What does oblige mean?

Definition of oblige. transitive 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. 2a : to put in one’s debt by a favor or service We are much obliged for your help.

What does dual obligee mean?

A dual obligee creates a situation where two different parties are beneficiary of the bond product, but it does not increase the penal sum of the obligation. A typical dual obligee rider would give the surety the right to issue a joint check to the owner and the lender if a dispute arose between those two.

What is obligee on bond?

The obligee on a surety bond is the party that receives protection by the bond. The obligee is the owner of the project or contract. This project owner can be a government entity, a person, or a company. For example, let’s say you own a construction company that bids and wins a project to build a school for your local city.