päävelallinen

Päävelallinen is a Finnish legal term used to describe the party who bears primary liability for a debt or obligation. The term translates roughly as "main debtor" or "principal debtor" and refers to the person who is primarily responsible for fulfilling the contractual obligation to the creditor. In contracts that involve several potential liable parties, the päävelallinen is the one the creditor may pursue first for performance.

In practice, a debt may involve a päävelallinen alongside other parties such as a takaaja (guarantor) or other co-debtors. A takaaja is typically liable only if the päävelallinen fails to meet the obligation, depending on the terms of the guarantee. In some arrangements, debtors may be jointly or severally liable, meaning that each party can be pursued for the entire debt or for a share of it, subject to the contract and applicable law.

Etymology and usage: The word combines pää (head, main) and velallinen (debtor). It is primarily found in professional legal and financial contexts, including contracts, debt collection discussions, and negotiations, rather than in everyday speech. The concept is part of the broader framework of debtor liability in Finnish civil law. See also takaaja, yhteisvastuullinen velallinen.