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(c) Since such a contract does not provide an incentive for the contractor to control costs other than the maximum price, it should make it clear, during the discussion prior to the award, that the efficiency and ingenuity of the contractor`s management will be taken into account in the retroactive revaluation of the price. The company is subject to various federal, state, and local environmental laws and regulations that set standards and requirements for environmental protection. The Company cannot predict the future impact of these standards and requirements, which are subject to change and may be retroactive. The Corporation continues to monitor the status of these laws and regulations. Management believes that any of these items are less likely to have a material adverse impact on the Company`s future financial condition, liquidity, capitalization or results of operations. “Retroactive. Dictionary, Merriam-Webster, Retrieved 6 December 2020. What made you decide to consult it retroactively? Please let us know where you read or heard it (including the quote if possible). Usually, we think that time is constantly moving forward. Because retroactively seems to defy the forward movement of time, retroactive taxes, laws and regulations are often seen as particularly abhorrent and unfair. But no one is ever afraid of getting a retroactive raise at work.

When we judge historical people and events based on today`s morals and attitudes, our retroactive judgments may indicate that we are too impressed with ourselves and ignorant of history. Thesaurus: All synonyms and antonyms for retroactive Indicate whether the employee will be paid retroactively when signing the contract. If the company pays him retroactively, document the rate he can expect for each hour of work performed. Alternatively, you can specify a lump sum that the employer wants to pay to the employee. These sample sentences are automatically selected from various online information sources to reflect the current use of the word “retroactive.” The opinions expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us your feedback. Every time your company hires a new employee, an employment contract is signed. As a rule, this contract is signed before the employee`s first business day.

However, some opportunities require a retroactive contract. For example, when an employee starts as a volunteer and is promoted to paid status. The retroactive employment contract is like any other. It also includes a clause indicating whether the employee will be paid retroactively for services provided prior to promotion. A fixed-price contract with retroactive pricing is appropriate for research and development contracts estimated at the simplified acquisition threshold or less if it is established from the outset that a fair and reasonable fixed fixed price cannot be negotiated and that the amount and short period of performance make the use of other types of fixed-price contracts impracticable. Include a statement that the employment contract is retroactive to a specific date. Document the retroactive date in the contract. Sign and date the contract with the current date, not the retroactive date. Ask the employee to sign and date the contract. Put a copy of the signed and dated contract in the employee`s file. A fixed-price contract with an economic price adjustment may be used if (i) there are serious doubts as to the stability of the market or the working conditions that will exist during a longer period of performance of the contract and (ii) contingencies that would otherwise be included in the contract price can be identified and covered separately in the contract.

Price adjustments based on fixed prices should normally be limited to industry-wide contingencies. Price adjustments based on labour and material costs should be limited to contingencies beyond the contractor`s control. For the adjustment of economic prices for sealed bidder contracts, see 14.408-4. A fixed-price contract with a planned price revaluation may be used for the purchase of volume production or services for which it is possible to negotiate a fair and reasonable fixed price for an initial period, but not for subsequent performance periods. (a) the initial period should be the longest period for which a fair and reasonable fixed price can be negotiated; Each subsequent pricing period must be at least 12 months. 2. Retroactive effect. Buyer and the Warranty hereby intend and agree that the changes to the Warranty set forth in Section 1 of this Amendment will take effect from 3 November 2016 and at any time thereafter with the same force and effect as if such a change had been made on that date. (b) in the case of contracts which do not require the submission of certified cost or price data, the contracting authority shall obtain adequate data to determine the basis for the adjustment and may request a review of the data transmitted; A fixed-price contract with economic price adjustment will only be invoked if the customer determines that it is necessary either to protect the Contractor and the Government from significant fluctuations in labour or material costs, or to provide for an adjustment to contract prices in the event of a change in the prices set by the Contractor. (a) Fixed-price contracts shall provide for a fixed price or, where appropriate, an adjustable price. Fixed-price contracts that provide for an adjustable price may include a maximum price, a target price (including target costs), or both.

Unless otherwise specified in the contract, the maximum price or target price is subject only to the application of contractual clauses that provide for a reasonable adjustment or other change in the contract price in the circumstances indicated. The agent shall use a fixed price or a fixed price with economic price adjustment contracts for the acquisition of commercial goods, except in the cases provided for in Article 12.207(b). Faizah Imani, educator, pastor and published author, has worked with clients such as Harrison House Author, Thomas Weeks III, Candle Of Prayer Company and Truth & Church Magazine. His file includes JaZaMM WebDesigns, deputy director of the high school band, district director for the Clarion Ledger and event coordinator for the Vicksburg Convention Center. (b) retroactive pricing within the limits of the ceiling after the completion of the contract. Write a short statement mentioning the fact that the document is an employment contract. Document the rights of the employee and the rights of the company. If you want the freedom to fire the employee at any time and for any reason, or if you want the employee to have the freedom to terminate at any time and for any reason, include an “at will” clause in your contract. Here is an example of an all-you-can-eat clause: “The employee understands and agrees that employment is not guaranteed.

The Company, as well as the employee, reserves the right to terminate the employment relationship at any time without giving reasons or notice period. (b) The contract may provide for a maximum price based on the assessment of the uncertainties associated with the service and its possible impact on costs. .