Obligor
Definition
Obligor is a synonym for any Debtor or Creditor or Borrower under a financial obligation.
The term is more more specifically employed as term for a party which is obligated under payment instrument such as a Negotiable Instrument. In Forfaiting such a party is also known as the Primary Obligor. The underlying obligation may be supported by guarantees and similar arrangements provided by other parties, which create other (secondary) obligors
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
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