precommitment

noun
pre·​com·​mit·​ment | \ ˌprē-kə-ˈmit-mənt How to pronounce precommitment (audio) \
variants: or pre-commitment
plural precommitments or pre-commitments

Definition of precommitment

: a commitment (such as a commitment to do or provide something) made in advance … intends to raise approximately … 15 million [euros] through a public rights offering, of which … 10 million has already been secured via precommitments from certain existing shareholders and new investors.Key Pharma News

First Known Use of precommitment

1855, in the meaning defined above

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The first known use of precommitment was in 1855

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