obligor

Definition of "obligor"
  1. An individual or organization that is bound to fulfill a commitment to another party
How to use "obligor" in a sentence
  1. The obligor failed to make the promised payment in time.
  2. In the contract, the company was named as the obligor for providing scheduled services.
  3. If the obligor doesn't fulfill its duties, it might have to face legal consequences.

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