Participation Commitment一般在银团贷款中出现。

银团贷款亦称“辛迪加贷款”。由获准经营贷款业务的一家或数家银行牵头，多家银行与非银行金融机构参加而组成的银行集团采用同一贷款协议，按商定的期限和条件向同一借款人提供融资的贷款方式。

“Commitment”一词在贷款中一般指的是“承贷额”，如：

"Available Commitment" means, in relation to a Facility, a Lender's Commitment under that Facility minus:

(a)the amount of its participation in any outstanding Loans under that Facility; and

(b)in relation to any proposed Utilisation, the amount of its participation in any Loans that are due to be made under that Facility on or before the proposed Utilisation Date.

「可提取承贷额」，就某一信贷安排而言，指贷款人在该信贷安排下的承贷额，减去：

(a)其在该信贷安排下任何未偿还贷款中的参与额；及

(b)就任何拟作出的提款而言，在拟定的提款日期当日或之前其在该信贷安排下任何贷款中的参与额。

在银团贷款中，贷款是由参与行共同提供的，因而“Participation Commitment”则指“参与承贷额”。如：

We are pleased to confirm our acceptance, subject to satisfactory documentation acceptable to all parties, to join Facility [A/B] as a [**] with an Initial Participation Commitment of RMB[**]. Our commitment is based on the conditions set forth in the Invitation Letter above and the Summary of Terms and Conditions attached to the information package.

我行荣幸地确认，在令各方满意的相关文档被接受的前提下，我行以合计共人民币[**]亿元的初始参与承贷额，参与信贷安排[A/B]，作为[**]。我行上述承诺是基于上述邀请函中的条件以及资料包中所附的条件和条款摘要所做出的。

Upfront Fee

有关Upfront Fee的英文释义如下：

An upfront fee is a common fee charged by lenders when you apply for a loan. It might also be called an 'application' fee or 'establishment' fee. An upfront fee covers the costs of processing your application, including things like administrative costs, credit assessment, loan set-up and document preparation.

银团贷款中涉及的相关收费如下：

收费：包括安排费、参加费、包销/承销费，以前端形式按贷款额的百分比一次性计收；代理费是代理行收取，按年支付；中介费原则上由借款人在银团费用外根据实际支付（会计师、律师、资产评估、保险、市场咨询等）。

而Upfront Fee则指的是其中以前端形式收取的费用，因而可译为“贷款前端费”。

如：

The Upfront Fee will be calculated on the final allocated participation commitments of the lenders at the rate applicable to their Initial Participation Commitment. The Upfront Fee will be payable upon receipt of funds from the Borrower.

贷款前端费将基于贷款人最终获分配的承贷额，以其初始参与承贷额适用的费率计算。贷款前端费将于从借款人处收到资金后予以支付。