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The lease start date is the date that possession is passed from the landlord to the tenant. On that date, the lessee, or tenant, should begin recording straight-line expense even if that date is earlier than the commencement date specified on the lease.
In reality, a contract becomes enforceable on its effective date (i.e. the date that your contract becomes official and binding). In other words, the effective date is when your obligations in the contract begin.
An effective date or as of date is the date upon which something is considered to take effect, which may be a past, present or future date. This may be different from the date upon which the event occurs or is recorded.
At law, usually the contract date is the date that acceptance of the offer is notified to the offer or (the Postal Rule aside).
If a contract clearly specifies its effective date, then the contract is valid from the effective date regardless of whether its signatures are dated. Sometimes you will want the effective date to be different from the date of signing, either earlier (i.e., backdating) or later (i.e., predating).
The effective date is the date when the last element (communicating acceptance back) is made after the other three elements are satisfied. ... One of the most significant complaints that escrow agents make about real estate licensees is that, many times, licensees fail to insert the effective date in the contract.
Under Paragraph 3(b) of both contracts, Effective Date is defined as follows: The effective date of this Contract shall be the date when the last one of the Buyer and Seller has signed or initialed and delivered this offer or final counter-offer.
An Act's commencement date is the date on which it is enacted. An Act's effective date can sometimes be different to the commencement date as it may stipulate that the Act comes into effect on a particular date. It may have a delayed start.
Dictionary of Banking Terms for: effective date. Effective date. Date on which a transaction is posted, or an agreement becomes effective. Banking. The time when an expiring Certificate of Deposit is renewed at the current rate, and interest paid is adjusted accordingly.
The effective date is the date the transaction affected the account. For debit amounts it will reflect the due date, and for payment or credit transactions it will be the date the payment was received or credit notified.
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