Backdate definition
Backdate or “Backdating” means a loan adjustment applied retroactively, resulting in the reprocessing of all loan transactions from the effective date of the loan adjustment going forward to ensure the adjustment is fully incorporated and reflected in the loan history and amounts owed, or other appropriate adjustment as provided in the approved Redress Plan, as described in Section VIII.
Examples of Backdate in a sentence
Backdate pay increase to nominal expiry date of the previous Agreement.