compromiso en firme firm commitment
Creator: | |
Language pair: | Spanish to English |
Definition / notes: | Firm commitment An agreement with an unrelated party, binding on both parties and usually legally enforceable, with the following characteristics: 1. The agreement specifies all significant terms, including the quantity to be exchanged, the fixed price, and the timing of the transaction. The fixed price may be expressed as a specified amount of an entity's functional currency or of a foreign currency. It may also be expressed as a specified interest rate or specified effective yield. 2. The agreement includes a disincentive for nonperformance that is sufficiently large to make performance probable. |
URL: | http://www.fasb.org/derivatives/issueh5.shtml |
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