The correct answer is A.

A forward commitment is a legally binding promise to perform some action in the future. Forward commitments include forward contracts, futures contracts, and swaps.

A forward commitment can also be defined as a contract entered into between two parties that require both parties to transact in the future at a pre-specified price known as the forward price. The parties and the identity and quantity of the underlying are specified as well as the date of the future transaction (expiration) and the nature of the settlement. The parties have to transact; they are obligated to do so. In the event of non-performance, because of the obligation of the forward contract, a legal remedy is possible to enforce the obligation.

The payoff profiles of forward commitments are linear in nature and move upwards or downwards in direct relation to the price of the underlying asset. Forward commitments include futures contracts and forwards contracts.

Options B and C are incorrect: A forward commitment and a contingent claim are two different things. A forward commitment creates an obligation between the transacting parties whereas a contingent claim creates the right but not the obligation to transact at a future date.

Option D is the definition of a swap.