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An obligee is person or organization to whom another party (the "obligor") owes an obligation. In risk management, the most common use of this term is in bonding. For example, under a performance bond, the obligee is the project owner for whom the bonded contractor is required to perform the specified work.

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An obligor is a person or organization that is bound by an obligation to another. In risk...

A surety bond is a contract under which one party (the surety) guarantees the performance of...