commitment
Definition 1
Accounting: Earmarking or setting-aside of funds in response to a purchase requisition. These funds remain committed (encumbered) until the purchased good or service is paid-for after its receipt, thereby converting the encumbrance into an expenditure. See also obligation.
Definition 2
Lending: Written assurance from a lender to a borrower that a specified amount of loan or line of credit will be made available at a certain rate and during a certain period. Lenders charge a commitment fee for this service.
Definition 3
Law: Order by which a court directs a person to be confined in a penal or mental health institution.
commitment is in the Accounting & Auditing, Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
commitment appears in the definitions of the following terms:
firm commitment,
orientation,
discretionary income,
conditional commitment,
encumbrance,
contract rate,
pre-export financing,
settlement risk,
remand,
available to promise
and
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