# Commitment Letter

**IRI:** https://folio.openlegalstandard.org/RBDbODDKtqnYurCrpo7HfnC

## Labels

## 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.

## Sub Class Of

- https://folio.openlegalstandard.org/R7ddsah86bL3tQ5OmO9B7PB

**Deprecated:** False