Commitment To Pay

From Open Risk Manual

Definition

Commitment To Pay. A commitment obliging one party to make a payment to another party (e.g. to fund a loan, make payments, pay origination fees)

Issues and Challenges

Future consideration: perhaps add payment methods, and timing constraints.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

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