Obligees

Obligees are individuals or entities who are entitled to receive a benefit or favor from an obligor, often as a result of a legal or contractual obligation. In the context of a contract, the obligee is the party to whom a duty or promise is owed. This term is frequently used in legal and financial discussions, encompassing a wide array of scenarios from loan agreements to service contracts.

Obligees meaning with examples

In a real estate transaction, the buyers act as obligees when the sellers promise to deliver a property free of liens and encumbrances, ensuring the buyers can enjoy full ownership rights upon closing.
The obligees in a bond agreement are the bondholders who rely on the issuer to fulfill its promise to pay interest and principal according to the agreed-upon terms.
When a government agency awards a contract for construction, the contractors become the obligees, expecting timely payments for the services rendered as stipulated in their agreement.
In a trust arrangement, the beneficiaries are referred to as obligees since they are entitled to receive distributions from the trust as per the terms laid down by the grantor.
During a loan disbursement, the lender identifies the borrowers as obligees, highlighting their right to receive the amounts outlined in the repayment schedule by the loan agreement.

Obligees Synonyms

applicants assignees assignors beneficiaries claimants consignees contractual parties covenantors creditors entitled parties holders investors lenders managers payees percipients promisors receivers segregants stakeholders

Obligees Antonyms

adversaries burdened contractors creditous debtors deniers excluders foes grantors holders liabilities neglecters noncompliers obligors occupants performers promisors refusers spenders withholders