TeachMeFinance.com - explain Contract sanctity
Contract sanctity The term 'Contract sanctity ' as it applies to the area of agriculture can be defined as ' The concept that U.S. agricultural products already contracted to be exported should not be subject to government cancellation because of short supply, national security, and/or foreign policy reasons. The FACT Act of 1990 provides for contract sanctity by prohibiting the President from restricting the export of any agricultural commodity already under contract to be delivered within 270 days from the date the embargo is imposed, except during national emergency or war'.
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