commitment

commitment definition - business

commitment

  1. A pledge to do something. For example, an appliance manufacturer makes a commitment to have 10,000 toasters available for purchase by a certain date.
  2. A legal obligation. A contractor makes a commitment to complete a building by January 12.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.