Retroactive Contract definition
Retroactive Contract means a Contract or Purchase Order in which Goods, Works or Services have already been delivered or performed, fully or in part, prior to obtaining the advice of the CPU or the completion of the approval steps required under this Policy and/or the Procedures.
Examples of Retroactive Contract in a sentence
Recognizing the retroactivity of this Agreement, MVA worked with the Retroactive Contract Review Committee (RCRC) to address this issue and has been advised to move forward with presenting its request for the recommended to the Board, provided MVA makes a presentation to the RCRC on a future date, to discuss the factors that led to the retroactive situation and to present a Corrective Action Plan developed by MVA to prevent the recurrence of future retroactive license agreements.