Backdate

To assign a date to a document, transaction, or event that is earlier than the actual date it occurred. This often involves altering the original date to make it seem as though something happened at a previous time. Backdating can have legal, financial, and ethical implications, as it can be used to create advantages, avoid penalties, or mislead others. While sometimes permissible, it is frequently viewed with suspicion and may be considered fraudulent or illegal depending on the context and intent. The act implies a deliberate change of record for a specific purpose.

Backdate meaning with examples

• The company was accused of backdating stock options to inflate executive compensation, giving them unfair advantages and boosting profits. This action prompted an investigation due to the potential financial crimes committed. The fallout from the news involved lawsuits and the company’s share prices plummeted due to the loss of investor confidence.
• She decided to backdate her resignation letter so it would appear she'd quit a week earlier, believing it would help her avoid a negative reference from her previous employer. This was a risky tactic which could have easily resulted in legal issues and could potentially destroy her chances of future employment. Her actions were motivated by personal gain.
• The insurance company attempted to backdate the policy's effective date to avoid paying out a claim for an accident that happened before the policy was in force. Their attempts at backdating the agreement ultimately failed, as evidence was presented that highlighted the illegality of their actions. This was motivated by profit, which influenced their immoral actions.
• To take advantage of a lower interest rate, he backdated a loan application, hoping to secure a better financial deal. This was a calculated move which, if successful, would have saved him a substantial amount of money. His actions were based around self-interest and would allow him to make the biggest profit.
• The art collector sought to backdate the provenance of a painting, hoping to increase its value by implying it had a longer and more illustrious history. His actions could be interpreted as deceptive if the painting had a limited background, as the true nature of its past and its origins were concealed. His plans revolved around an increase in value.