payment commitment

USAGE SUMMARY

"payment commitment" is correct and usable in written English. You can use it when referring to an obligation to make a payment or fulfill a financial agreement. For example, "The company signed a contract that included a payment commitment for the services rendered." Alternative expressions include "payment obligation" and "financial commitment."

✓ Grammatically correct

News & Media

Science

Wiki

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

By the time you reach the checkout desk, your doctor has received a payment commitment from your insurance company, just as Visa and MasterCard provide to a merchant after a customer swipes a card.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

57 human-written examples

While most of HSBC's mortgage customers in America continued to meet their payment commitments, 5percentt of the loans were two months or more overdue at the end of March, up from 4.2percentt at the end of December, the bank said.

The New York Times

Would meeting their payment commitments have bankrupted these municipalities?

Forbes

Clubs are also obliged to meet all their transfer and employee payment commitments at all times.

BBC

On March 29 this year - after 214 days - Mihalic made his final payment, crediting commitment, patience and discipline.

Huffington Post

When you are hired, it is best to iron out payment, time commitment, and schedule.

WikiHow

The VV Sector design and manufacturing schedule is based on Primavera software, which is cost loaded thus allowing F4E to carry out performance measurement with respect to its payments and commitments.

Fusion Engineering and Design

In accordance with the terms of the agreement, the platform support payments and annual minimum software royalty commitment payments continue for a corresponding period of time.

TechCrunch

Mr. Mineta called the grants a "down payment" on a commitment of $4.55 billion for transportation projects in the city.

The New York Times

"These emergency relief funds are just a down payment on our commitment to all of the states impacted by Hurricane Sandy".

The New York Times

"I'm convinced that we can come up with an agreement that gets the debt limit passed and makes some real serious down payment on the commitment to 4 trillion bucks over the next 10 to 12 years," the vice president said, referring to the spending reduction goal of President Obama.

The New York Times

Expert writing Tips

Best practice

In financial reporting, use "payment commitment" to accurately represent the company's financial obligations.

Common error

Avoid using "commitment" alone when referring to payments; specify "payment commitment" to avoid ambiguity with other types of commitments such as time or resources.

Linguistic Context

The phrase "payment commitment" functions as a noun phrase, typically acting as the subject or object of a sentence. It denotes a specific and binding agreement or obligation to make a payment. Ludwig provides examples showcasing its role in defining contractual terms and financial responsibilities.

Expression frequency: Common

Frequent in

News & Media

35%

Science

33%

Formal & Business

12%

Less common in

Wiki

10%

Encyclopedias

5%

Social Media

5%

Ludwig's WRAP-UP

In summary, "payment commitment" is a noun phrase used to denote a binding agreement to make a payment. As confirmed by Ludwig, it's grammatically correct and most commonly found in News & Media and Scientific contexts. When using this phrase, ensure it's clearly defined within the agreement to avoid ambiguity. Alternatives like "financial undertaking" or "payment guarantee" can be used depending on the specific context. While versatile, specifying "payment commitment" as opposed to just "commitment" avoids any misunderstandings. "Payment commitment" is most appropriate for professional and formal contexts, offering clarity and precision in financial discussions.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

guaranteed payment

Focuses on the guaranteed nature of the payment.

obligation to pay

Directly states the duty to make a payment.

payment guarantee

Focuses on the security and certainty of the payment.

financial undertaking

Emphasizes the binding nature of the financial agreement.

financial assurance

Stresses the guarantee of financial fulfillment.

monetary pledge

Highlights the promise and assurance aspects of the payment.

promise of payment

Emphasizes the promissory aspect of the payment arrangement.

funding agreement

Broader term that encompasses the agreement to provide funds.

assured remittance

Highlights the act of sending money with certainty.

fiscal responsibility

Implies a duty to manage financial commitments responsibly.

FAQs

How can I use "payment commitment" in a sentence?

You can use "payment commitment" to refer to a financial obligation, such as "The contract includes a clear "payment commitment" for the services provided".

What's the difference between a "payment commitment" and a "payment obligation"?

While similar, a "payment obligation" is a general duty to pay, whereas a "payment commitment" implies a specific agreement or promise to make a payment under certain terms.

What are some alternatives to saying "payment commitment"?

Depending on the context, you can use alternatives like "financial undertaking", "payment guarantee", or "obligation to pay".

Is "payment commitment" formal or informal?

"Payment commitment" is suitable for both formal and professional contexts, as it clearly and precisely conveys a financial obligation. In informal contexts it may be more appropriate to use the alternative phrasing of "promise of payment".