Principal

{
  "id": "MLC-T-INS-002662",
  "term": "Principal",
  "field": "Insurance and risk management",
  "definition": "The party for whom an agent acts and who is bound by the agent's authorized acts, such as the insurer for an appointed agent. In surety, the principal is the party whose performance of an obligation is guaranteed to the obligee. In finance the term separately means the original amount borrowed or invested, apart from interest, and a bond's principal is its face value repaid at maturity.",
  "url": "https://mlchart.com/terminology/insurance/principal/"
}