obligor

Related Terms
Obligated party (bond issuer, borrower, debtor, insurer, etc.) who has an obligation to repay a debt, make a payment, do something, or to refrain from doing something, under the terms of an agreement. Also called promisor.

Use 'obligor' in a Sentence

I was the obligor, so that meant I would be the one that would pay and I would be the one that would be held liable if we did not.
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If you ever find yourself as the obligor you need to pay off what you owe so that you keep your good reputation in tact.
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The obligor was unable to make anymore payments for the vehicle, so the bank had it repossessed the following week
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