You nearly always meet this as be premised on…. If a plan, a law, or an argument is premised on an idea, it sits on that idea: if the idea is wrong, the whole thing falls over. This is office-and-essay English, not kitchen English. People also stretch it a little: a film can be premised on a 'what if', meaning the story starts from that one thought and never really leaves it. The name-word behind it is premise — a starting idea you ask other people to accept. Though actually, premises with an s is, in ordinary talk, a building or a piece of land. Same old family tree, different job now. You would not say a sandwich is premised on cheese; keep this word for claims, plans, and stories.