Commitment

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Commitment

Describes a trader's obligation to accept or make delivery on a futures contract. Related: Open interest.

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.

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.

References in periodicals archive ?
12 For example, he distinguishes between letters intended for a specific addressee and those which can reach a wider audience: "aliter enim scribimus quod eos solos quibus mittimus, aliter quod multos lecturos putamos" (ibid., 15: 21.4).
O Lycida, vivi pervenimus, advena nostri (quod numquam veriti sumus) ut possessor agelli diceret: `haec mea sunt; veteres migrate coloni.' 5 nunc victi, tristes, quoniam fors omnia versat, hos illi (quod nec vertat bene) mittimus haedos.
The anti-graft court issued a mittimus order last December 27 directing Napoles' transfer.