Meaning of the word "effective date" in English

What does "effective date" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

effective date

US /ɪˈfɛktɪv deɪt/
UK /ɪˈfɛktɪv deɪt/

Noun

the date on which a contract, law, or agreement officially begins to be valid or enforced

Example:
The new policy has an effective date of January 1st.
Please ensure all documents specify the correct effective date.