noun a person who is bound or obliged to do something, typically by a contract, promise, or duty
In legal contexts, an obligor is a person or entity who is obligated to fulfill a duty or make a payment to another party.
In finance, an obligor refers to a borrower who has an obligation to repay a debt or fulfill a financial commitment.
In insurance contracts, an obligor is the party who is obligated to fulfill the terms of the insurance policy, such as paying premiums or providing coverage.
In contract law, an obligor is a party who is bound by the terms of a contract and has obligations to fulfill under the agreement.
In the legal field, an obligor is a person who is legally obligated to pay a debt or fulfill a duty as specified in a contract. Writers may use this term when discussing legal matters in their writing.
Psychologists may use the term obligor when discussing family dynamics and child support payments, as it relates to the parent who is legally responsible for making these payments.