Meaning of obligee
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 … WebOBLIGEE Meaning: "person to whom another is bound by contract," 1570s, from oblige + -ee. See origin and meaning of obligee.
Meaning of obligee
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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 … Webinsurance obligor and insurance obligee. (2) If the employer or labor union or trade union. offers more than one plan, the order shall require the insurance obligor to name the child as a beneficiary of the plan in which the insurance obligor is enrolled. (3) Nothing in this Section shall be construed to. limit the authority of the court to ...
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. WebObligee. The individual to whom a particular duty or obligation is owed. The obligation might be to pay a debt or involve the performance or nonperformance of a particular act. …
WebJul 15, 2024 · An Obligee is a creditor, the parent who collects child support, or the party requesting a surety bond in an insurance context. Even though a divorce is granted with a final order, that order can be modified if the financial situation of the obligor or obligee changes significantly. The obligation to pay child support, however, is one that ... WebOct 4, 2024 · The obligee can be a bank, a credit company, or a person who gets a surety bond to make sure that another person will complete something as contractually promised. Insurance policyholders are also obligees, insofar as their insurance contract stipulates that they are obliged to pay premiums to the insurance company. Advertisement.
WebFeb 28, 2024 · Obligee a party to whom an obligation is owed. Obligor a party who owes an obligation. Offeree a party receiving an offer. Offeror a party making an offer. Promisee a party to whom a promissory obligation is owed. Promisor a …
WebObligee: 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 … hacker takes down 20% of dark webWebJun 22, 2024 · Obligee pronunciation How to pronounce Obligee in English?/,ɑːblə`dʒiː/Meaning of Obligee What is Obligee?The person to whom another is … hacker symbol wallpaperWebAn 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 brag provisionsWebthe 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 … hackers y virus informaticos calameoWebAug 3, 2024 · The obligee is the one who needs to be compensated if there is a breach of contract. A performance bond can be used by an obligee as collateral in order to secure compensation for damages that they may incur if there is a breach of contract. Who is the obligee on a motor vehicle dealer’s surety bond? hacker system downloadWebobligee ( ˌɒblɪˈdʒiː) n 1. (Law) a person in whose favour an obligation, contract, or bond is created; creditor 2. (Law) a person who receives a bond Collins English Dictionary – … hacker tacticsWebThe 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. hackers youtube 1995