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what is unrecognized foreign currency firm commitments so a lot of words lets go ahead and break it down first of all if youre familiar with purchase commitment under us Gap basically its the same thing its a purchase commitment so it is a purchase commitment so if you understand what a purchase commitment is youll be able to understand what a firm commitments is a purchase commitment is when the firm when the company commitment has a commitment to acquire to buy goods or services from A supplier all sells goods or services for a specific fixed price so basically what you did you signed the contract and you cannot get out of this contract you are boxed in okay either you are buying something at a fixed price or you are selling something at a fixed price this is what a commitment is now for our for this for this purpose for the purpose of this lecture we are dealing with foreign currency commitment now you sold something youre going to be receiving that money that money in a forei