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 ?
He said once made, the committal could not be reversed and the accused would as a consequence suffer irreparable prejudice.
Service and committal at Altrincham Crematorium on Tuesday 13th November at 2.00pm.
In recent years, a number of legislative and procedural reforms have sought to improve the committal process.
There were also a small number of committals of residents from the North, with 52 from the six counties.
The next section attempts to provide a more complete picture of the historical changes in female imprisonment by providing an overview of committals on conviction each year to prison.
Cases will now be sent to the higher court as soon as it is clear the matter is serious enough, without the need for a separate committal hearing.
The allegations dated back to June and defence solicitor Richard Williams said the case was originally due for committal to the Crown Court on October 5.
Magistrates referred the case to Crown court, adjourning for a committal hearing on September 14.
In January JPs decided the case was too serious to be dealt with at the magistrates court and called for committal papers to be prepared.
Funeral Service at Christchurch, Moreton on Wednesday, September 9 at 12.15 p.m., followed by Committal at Landican Crematorium Centre Chapel at 1.00 p.m.
In the 1880s the Vatican condemned the "attempt to introduce the practice [of cremation] into Christian society" as "un-Christian and Masonic in motivation:' Masonic plots aside, the church lifted its prohibition on cremation in 1963, and the 1989 edition of the Order of Christian Funerals contained prayers for the committal of cremated remains.