What is a retroactive date and how does it apply to a professional indemnity policy?
Retroactive Effect Sample Clauses. Retroactive Effect. This Agreement covers all Proceedings that either now have been or later may be commenced, including any Proceeding relating to any past act or omission of the Indemnitee that has not yet resulted in commencement or threat of a Proceeding. Sample 1. Sample 2. Sample 3. Save Loading This Amendment shall be deemed to have been executed prior to the Petition Date and the Parties agree that under no circumstances shall the Agreement, as amended by this Amendment or otherwise, be treated as a postpetition agreement. Notwithstanding anything to the contrary contained in this Agreement, the Company’s obligation to indemnify the Indemnitee and advance Expenses to the Indemnitee shall be deemed to be in effect since the date that the Indemnitee first commenced serving in any of the capacities covered by this Agreement. The terms and consideration as agreed to by Company and Executive in a new employment agreement to be entered into following the date hereof shall apply retroactively to March 1,
Payment of Retroactive Pay Increases
Retroactive payments for the pay increases under the Collective Bargaining Agreement, have been scheduled for pay period , paycheck dated September 4, — barring any issues or unexpected systems changes. Employees began receiving pay at the current rates in pay period , effective April 11, Retro payments for the National Agreement will cover the period from November 24, through April 10, Under the terms of the National Agreement, employees will receive four retroactive pay increases:.
Under the terms of the National Professional Postal Nurses Agreement, employees will receive four retroactive pay increases:. Employees who worked during the retroactive period will be paid the higher rates due for that work.
By back-dating a purchase agreement, the buyer creates a black hole between the back-dated closing date, and the date a purchase agreement.
Most of the insurance policies that we know start their cover from a given date as stated in the policy document. Otherwise, insurers would run out of money paying past claims. However most professional indemnity insurance work a bit different. These professional indemnity insurances can cover incidents from the past as well. The retroactive date on the professional indemnity insurance is the date from which the insured has held uninterrupted professional indemnity insurance. Anything that has happened before the retroactive date is usually not covered by your insurance company.
Thus, it extends a backward cover to a specified retroactive date mentioned on the policy schedule. Having a retroactive date cover is necessary because it can take weeks, months or even years to discover problems with any work. For any mistake done in the past work which has taken years to surface, a person can be sued for that as well. Engineers, Legal officers, Doctors, Architects, and Surveyors are particularly prone to these problems.
In case of Engineers and Contractors, materials deterioration, and cracks appearances are the significant issues why clients spare no time to blame them. Another form of issue that takes time to surface is the copyright infringement issue.
The application of a retroactive date clause
Jump to navigation. The approval process is now complete. PSC leaders have already begun pushing the CUNY administration and City and State officials to pay the retroactive salary increases and begin paying members at their new salary rates as soon as possible. CUNY management has not yet announced dates.
Backdating a document is potentially a criminal offence under section 17 (false If the parties to an agreement want it to take effect from a date earlier than the.
Canadian bijuralism poses several problems of interpretation for courts, lawyers and legal scholars. In our federal system, property and civil rights fall within the jurisdiction of the provincial legislatures, so provincial private law often must play a major role in the interpretation of federal statutes. For example, in Quebec, the Civil Code is called upon to complete the Income Tax Act when that Act imposes tax consequences on certain relationships governed by private law.
This phenomenon sometimes clashes with the objective of applying the Act uniformly throughout Canada. One of the most frequently encountered problem in this regard is determining the moment at which a disposition of property has taken place within the meaning of the Income Tax Act specifically when a conditional obligation is involved. Given this, should the retroactivity be recognized for tax purposes in Quebec, or should the notion of disposition be applied uniformly throughout Canada?
This paper will consider the issue and propose some solutions. The task turned out to be much more demanding, lengthy and complex than expected. My thanks as well to Me Sandra Hassan, Legal Counsel at the Civil Code Section of the Department of Justice of Canada, who did not keep track of the many hours she spent to bring this project to fruition. Although all of these people have provided outstanding assistance, all opinions expressed herein are mine and I bear the sole responsibility for them.
Bijuralism is one of the exceptional characteristics of Canadian law. In its Canadian incarnation, bijuralism is the coexistence of two systems of private law: civil law and common law.
Can an agreement have retrospective effect from a particular date?
Add Expertise:. Add Keywords:. One of the thornier issues which comes up in legal practice from time to time is the backdating of documents. Legally speaking, this is something that you should not do — or more accurately, there will only ever rarely be occasions when this is appropriate to do. However in practice, for both good reasons and bad, backdating of documents does occur.
However, he rarely adds that he actually ended up losing that trial, which brings us to my second point — even though the law generally deprecates the backdating of documents, the legal consequences of backdating are highly variable.
pay on the payout date, provided that they were employed during the retroactive dates of the contract. 6. How will I know the amount of my.
Our son is the fourth generation to play a violin made in the early 20th century by Prague luthier Janek John Juzek. Juzek noticed that there was a high demand for string instruments in North America. Juzek engaged area luthiers to make instruments for him and exported the instruments to North America to be sold under his label.
They included his own name but a completion date about five years earlier than the actual date the instrument was completed. It is unknown why he might have done this, but I have my suspicions. In addition to having value as musical instruments, many violins have value as antiques. Although musicians purchase an instrument based upon how it responds and sounds, an older instrument might have greater value to a collector than a brand new one, simply because it is old.
How to Write a Retroactive Employment Contract
Please contact customerservices lexology. The Commercial Court has considered the application of a retroactive date exclusion in a professional indemnity policy. The Manager notified its insurers in January The Manager had the benefit of professional indemnity insurance for the period 23 October to 23 October
Pitfalls and Practices of Backdating a Contract’s Effective Date. Decisions regarding the date that should be put on a document are likely to be something that has.
Change of Law: Hospital Action Required. There are three key changes regarding the use of substitute providers providing services to Medicaid Managed Care enrollees, effective March 17, This means that the county has a population density less than people per square mile or is geographically smaller than square miles, as determined by the Office of Financial Management each year. The current list of rural counties is available here. Recommendation Review this bulletin to understand the new laws applicable to substitute providers and retroactive reimbursement for credentialed health care providers.
Share this information with revenue cycle, reimbursement and finance leaders within your organization or facility. Your human resources department may also need to be made aware of the new process for the use of substitute providers. Overview Substitute Provider Background Hospitals and health clinics often turn to substitute providers when the usual provider is absent due to family or sick leave, continuing medical education, or vacation.
Using substitute providers also called locum tenens or fee-for-time compensation arrangements in these cases helps ensure patients receive timely care. Before HB became law on March 17, , hospitals and health clinics that hired substitute providers to treat Medicaid patients faced reimbursement limitations related to the credentialing process required by Medicaid managed care organizations MCOs. They also faced limitations on the circumstances for using substitute providers and the types of licensed practitioners who were eligible to be substitute providers.
PSC Contract 2017-2023 Ratification
Doing business with the City of New York is a challenging proposition. With multiple government agencies performing various oversight duties, delays are common. In the worst case scenario, months can become years. The slow pace of procurement presents a number of challenges for vendors and the City.
Backdating is the practice of marking a check.
You may upgrade or downgrade a client’s contract by terminating the current contract, refunding the most recent payment to Account, and selling the new contract with the account credit. Click here to learn more. Enter keywords here. Sign in to ask the community. How to upgrade or downgrade a client’s contract? Information Title. Article Body. Sometimes, clients decide they’d like to change contract types midway through their current contract.
We’ve provided instructions to help make that change below. Before you start This feature is only available with certain software packages.