pledges

A pledge is a promise or undertaking to do something or to refrain from doing something. The term can refer to a personal commitment, a formal security arrangement, or a donation commitment used in fundraising. Pledges are used in everyday life and in law, commerce, and philanthropy.

In social and ceremonial contexts, a pledge may be a vow or oath, such as to uphold certain values, to marry, or to join a group. In some organizations, new members undergo a pledging process to demonstrate commitment; the specifics and formality of this process vary widely by culture and institution.

In law and finance, a pledge is a form of security in which the pledgor delivers possession of property to a pledgee as collateral for a debt. The ownership typically remains with the pledgor, but the pledgee may retain the property or take it if the debtor defaults, subject to applicable law and contract terms.

In philanthropy, a pledge is a commitment to donate a stated amount over a period. Pledges are recorded as receivables by charities and are recognized as revenue as payments are received or when the pledge becomes due, depending on accounting policies. Pledges may be restricted to specific programs or time frames.

Pledges can carry moral, legal, or financial obligations, but the enforceability and consequences of breach depend on context, documentation, and jurisdiction. They are a common instrument across personal, legal, and organizational domains.