Definitions for "Commitments"
Used synonymously with encumbrances. Commitments comprise all approved and pending approval requisitions, purchase orders, and supplier invoices. Commitments are viewed in status inquiry forms ( ASI and PSI) and in Webster status views. || || || || || || || || || || || || || || || || || || || || || U - Z
Synonym for encumbrances.
Project funds that have been set aside in anticipation of expenditures. The costs are actually charged to the project when the person is paid, when the equipment or supplies are received or when subcontractor invoices are approved for payment.
In accounting usage, commitments refer to a stage in the expenditure process at which contracts or other forms of agreement are entered into, generally for future delivery of goods or services. A liability will not be recognized until delivery of the item, but the government is contractually committed to meeting the obligation once delivery is made. The term is also used in a more general, noncontractual sense to mean firm promises of the government made in policy statements.
Promises and pledges taken when engaging in spiritual practices.
A future promise to pay for goods and services. University of Alberta: - When placing a purchase order with a vendor, a promise is made to purchase goods/services at a certain price. The amount of the purchase is encumbered (held or committed) from your available funds to pay for the good/service when they are received.
Land which is the subject of an existing planning permission and other projects and proposals which are so widely and authoritatively accepted that the cost or other disadvantage of revoking the 'commitment' are such as to provide sufficient reason in themselves for continuing the policy.
Refers to land that benefits from planning permission, that may or not have work commenced on the site. Most often used in relation to housing land.
All land with current planning permission or allocated in local plans.
Payments that an individual is contracted to pay e.g. mortgage payment, maintenance payments, loan payments, etc.
Financial charges, such as car loan payments, family maintenance and mortgage payments, which a person has contracted to pay. These are taken into account when assessing the affordability of a mortgage.
Payments which a person has committed to pay, which could include mortgage payments, car loans or any other credit payments.
Keywords:  sense, common
Common Sense
Keywords:  write, agreed, risks, written, company
Amounts of insurance on risks which a company has written or agreed to write.
Keywords:  open, interest, see
See Open Interest.