8eb4e8a0_se_Security_Cooperation_Agency__Definition
[Term] Obligation [Link] N/A [Definition] 
A duty to make a future payment of money. The duty is incurred as soon as an order is placed, or a contract is awarded for the delivery of goods and the performance of services. It is not necessary that goods actually be delivered, or services actually performed, before the obligation is created; neither is it necessary that a bill, or invoice be received first. The placement of an order is sufficient. An obligation legally encumbers a specified sum of money which will require an outlay or expenditure in the future.
ESAMM Glossary | Defense Security Cooperation Agency
Definition