The so-called Obligation Agent keeps track of issuers’ obligations that do not provide for the placement of cover funds to the agent’s management. This agent provides certain guarantees assuring that the obligation received from the issuer should be fulfilled by redeeming the check. Thus, in order to create a check of the Obligation type, you should have your obligations to holders of issued checks recorded by the agent. The period checks will be valid for and their maturity date are defined by the issuer.