Commitment Letter
type: Class
subclass of: R7ddsah86bL3tQ5OmO9B7PB
definition: A Commitment Letter is a formal, written document from a lender that outlines the terms under which the lender agrees to provide a loan to a borrower. The letter specifies important details like the loan amount, interest rate, and repayment terms, and it often requires the borrower's acceptance to become binding.