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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'. Previous 5 Terms: Contract payments under AMTA Contract price Contract production Contract rate Contract receipts Next 5 Terms: Contracted gas Contracted weir Contraction joint Contractor Contractor Policy About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.