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precommitment

noun

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

Word History

First Known Use

1855, in the meaning defined above

Time Traveler
The first known use of precommitment was in 1855

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