CONTRACT PROCESSING Clause Samples
The CONTRACT PROCESSING clause outlines the procedures and responsibilities related to the handling, review, and execution of contracts between parties. Typically, this clause specifies which party is responsible for drafting, reviewing, and finalizing contract documents, as well as the timelines and methods for exchanging and signing these documents. For example, it may require that all contracts be processed through a designated legal department or specify the use of electronic signature platforms. Its core practical function is to ensure that contract management is organized, efficient, and compliant with internal policies, thereby reducing the risk of errors or delays in formalizing agreements.
CONTRACT PROCESSING. DATES - The days when we deduct certain charges from the Accumulation Value. If the Contract Processing Date is not a Valuation Date, it will be on the next succeeding Valuation date. The Contract Processing Date will be on the Contract Anniversary of each year.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. GA-IA-1043-01/98 4 IMPORTANT TERMS (continued) ------------------------------------------------------------------------- EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Guaranteed Interest Division. GUARANTEED DEATH BENEFIT INTEREST RATE - The annual rate at which the Guaranteed Death Benefit is calculated.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. CREDIT - An amount added to the Contract's Accumulation Value at the time a Premium Payment is made. 4 IMPORTANT TERMS (continued) ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Guaranteed Interest Division.
CONTRACT PROCESSING. DATES - The days when we deduct certain charges from the Accumulation Value. If the Contract Processing Date is not a Valuation Date, it will be on the next succeeding Valuation Date. The Contract Processing Date will be on the Contract Anniversary of each year. CONTRACT PROCESSING PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. GA-IA-1082 <PAGE> IMPORTANT TERMS (continued) ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. FIXED ACCOUNT - This is the Separate Account established to support Fixed Allocations. FIXEDALLOCATION - An amount allocated to the Fixed Account that is credited with a Guaranteed Interest Rate for a specified Guarantee Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Fixed Allocation or allocations to a Guaranteed Interest Division. GUARANTEED INTEREST DIVISION - An investment option available in the General Account, an account which contains all of our assets other than those held in our Separate Accounts. h▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇/e▇▇▇▇/data/836687/000083727601500024/ex4bidcvfac.txt 10/31/2017 GUARANTEED INTEREST RATE - The effective annual interest rate which we will credit for a specified Guarantee Period. GUARANTEED MINIMUM INTEREST RATE - The minimum interest rate which can be declared by us for Fixed Allocations or allocations to a Guaranteed Interest Division. INDEX OF INVESTMENT EXPERIENCE - The index that measures the performance of a Variable Separate Account Division. INITIAL PREMIUM - The payment amount required to put each Contract in effect. ISSUE AGE - The Annuitant's or Owner's age on the last birthday on or before the Contract Date. MARKET VALUE ADJUSTMENT - A positive or negative adjustment to a Fixed Allocation. It may apply if all or part of a Fixed Allocation is withdrawn, transferred, or applied to an Annuity Option prior to the end of the Guarantee Period. MATURITY DATE - The date on which a Guarantee Period matures. OWNER- The person who owns a Contract and is entitled to exercise all rights...
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. IMPORTANT TERMS (continued) ------------------------------------------------------------------------------ - EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Guaranteed Interest Division. GUARANTEED INTEREST DIVISION - An investment option available in the General Account, an account which contains all of our assets other than those held in our Variable Separate Accounts.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. GA-IA-1082 4 IMPORTANT TERMS (continued) ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. FIXED ACCOUNT - This is the Separate Account established to support Fixed Allocations. FIXEDALLOCATION - An amount allocated to the Fixed Account that is credited with a Guaranteed Interest Rate for a specified Guarantee Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Fixed Allocation or allocations to a Guaranteed Interest Division. GUARANTEED INTEREST DIVISION - An investment option available in the General Account, an account which contains all of our assets other than those held in our Separate Accounts.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. IMPORTANT TERMS (continued) - ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Guaranteed Interest Division.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACT YEAR - The period between Contract Anniversaries. IMPORTANT TERMS (continued) - ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Guaranteed Interest Division. GUARANTEED DEATH BENEFIT INTEREST RATE - The annual rate at which the Guaranteed Death Benefit is calculated.
CONTRACT PROCESSING. PERIOD - The period between successive Contract Processing Dates unless it is the first Contract Processing Period. In that case, it is the period from the Contract Date to the first Contract Processing Date. CONTRACTHOLDER - the entity to whom the group contract is issued. CONTRACT YEAR - The period between Contract Anniversaries. IMPORTANT TERMS (continued) - ------------------------------------------------------------------------------ EXPERIENCE FACTOR - The factor which reflects the investment experience of the portfolio in which a Variable Separate Account Division invests and also reflects the charges assessed against the Division for a Valuation Period. FIXED ACCOUNT - This is the Separate Account established to support Fixed Allocations. FIXED ALLOCATION - An amount allocated to the Fixed Account that is credited with a Guaranteed Interest Rate for a specified Guarantee Period. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Fixed Allocation or allocations to a Guaranteed Interest Division. GUARANTEED INTEREST DIVISION - An investment option available in the General Account, an account which contains all of our assets other than those held in our Separate Accounts.