1 minuteread by Gary Huddleston

Obligor — a person or organization that is bound by an obligation to another. In a bonding situation, this party, commonly called the “principal,” purchases a bond to protect the party to whom it owes an obligation. For example, under a performance bond, the obligor is the contractor that is required to perform the specified work for the project owner.

1 minuteread by Gary Huddleston

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