Series 53: Commitment Wire

Taken from our Series 53 Online Guide

Commitment Wire

A commitment wire is a communication from the managing underwriter that tells syndicate membersthe final terms of the underwriting. This communication is delivered before receiving the award for a competitive bid underwriting and before executing the bond purchase agreement for a negotiated sale. Syndicate members may withdraw at this time, as permitted in the Agreement Among Underwriters or syndicate letter, but they may not negotiate terms.

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