Authorization and Commitment

noun

• A document giving an official instruction or command.
  • synonyms: mandate, authorisation
• The power or right to give orders or make decisions.
  • usage: "he has the authority to issue warrants"; "deputies are given authorization to make arrests"; "a place of potency in the state"
  • synonyms: authority, authorisation, potency, dominance, say-so
• Official permission or approval.
  • usage: "authority for the program was renewed several times"
  • synonyms: authority, authorisation, sanction
• The act of conferring legality or sanction or formal warrant.
  • synonyms: authorisation, empowerment

Authorization is the approval by the credit card issuer for a merchant or another affiliate to complete a credit card transaction.

noun

• The trait of sincere and steadfast fixity of purpose.
  • usage: "a man of energy and commitment"
  • synonyms: committedness
• The act of binding yourself (intellectually or emotionally) to a course of action.
  • usage: "his long commitment to public service"; "they felt no loyalty to a losing team"
  • synonyms: allegiance, loyalty, dedication
• An engagement by contract involving financial obligation.
  • usage: "his business commitments took him to London"
• A message that makes a pledge.
  • synonyms: dedication
• The official act of consigning a person to confinement (as in a prison or mental hospital. ).
  • synonyms: committal, consignment

• (n.) The act of referring or intrusting to a committee for consideration and report; as, the commitment of a petition or a bill.
• (n.) The act of committing or putting in charge, keeping or trust; consignment; especially, the act of committing to prison.
• (n.) A doing or perpetration, in a bad sense, as of a crime or blunder; commission.
• (n.) A warrant or order for the imprisonment of a person; -- more frequently termed a mittimus.
• (n.) The act of pledging or engaging; the act of exposing, endangering or compromising; also, the state of being pledged or engaged.

Commitment is a promise by a lender to make a loan on specific terms or conditions to a borrower or builder. A promise by an investor to purchase mortgages from a lender with specific terms or conditions. An agreement, often in writing, between a lender and a borrower to loan money at a future date subject to the completion of paper work or compliance with stated conditions.