Commitment

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Commitment

Describes a trader's obligation to accept or make delivery on a futures contract. Related: Open interest.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Commitment

1. The legal obligation to undertake an activity in a given way at a given time in the future. Usually, commitment refers to the requirement for parties to a futures contract to make or receive delivery of the underlying commodities on the expiration date of the contract.

2. A liability. A commitment is the obligation to make good on an agreement at some point. For example, a borrower makes a commitment to pay back a loan by a certain time.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

commitment (loan)

An agreement by a lender to extend a loan on certain terms and conditions and by a certain date. Language making the “commitment” subject to credit approval or underwriting are not true commitments at all, but merely quotes.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.