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Commitment Fee |
Also found in: Legal | 0.06 sec. |
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Commitment Fee A fee lenders charge their borrowers for unused credit or credit that has been promised at a specified future date. Notes: A commitment fee is different from interest although, the two are often confused. A lender charges a borrower a commitment fee to keep a line of credit open, or to guarantee a loan at a certain future date even though the credit is not being used at that particular time. See also: Bank, Credit, Interest, Investment Bank, Line of Credit, Loan, Merchant Bank, Open End Credit, Retail Banking |
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The commitment fee included both refundable and nonrefundable portions. In addition to all out-of-pocket expenses, the bank often charges a commitment fee of 1% of its loan amount. 32%, while the unfunded class A-S1VF notes will receive an ongoing commitment fee of 0. |
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Commitment Fee
