Obligee

{
  "id": "MLC-T-INS-002379",
  "term": "Obligee",
  "field": "Insurance and risk management",
  "definition": "The party to whom a duty or obligation is owed under a contract, bond, or legal agreement. In the context of surety bonds, the obligee is the party protected by the bond, typically a government entity or project owner, who receives compensation if the principal fails to fulfill their contractual obligations. The obligee has the right to enforce the terms of the bond.",
  "url": "https://mlchart.com/terminology/insurance/obligee/"
}