Definition of Date certain:
A date certain is the exact date by which a specified action must occur, according to a particular contract. The date certain is an important piece of information because it is legally binding on the parties involved.
The date in which the specified actions are to be completed by. Date is most often considered to be legally binding.
Contracts with date certain features carry guarantees that are valuable to investors and so may carry a premium over contracts that lack such features. Date certainty also allows for more precise hedging, as expectations for delivery of goods or commodities can be known in advance.
How to use Date certain in a sentence?
- Date certain clauses are common contractual features (i.e., the expiration date of an options contract or starting date of a lease).
- A date certain is a legally binding date specified in a contract.
- Failure to abide by the date certain entitles the injured party to damages and other legal remedies.
Meaning of Date certain & Date certain Definition