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primitive.policy — the rules that govern what happens, pinned in time.
A policy version is a versioned, immutable rule set. It is pinned to every event at the time the event is processed. It governs triggers, auto-approve conditions, and how exceptions are handled.

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Constraint

Policies cannot be changed retroactively. Earlier events keep the policy version that applied when they occurred. Changing a rule creates a new version; it never alters the meaning of a past event.

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Hard triggers vs. configurable conditions

Some triggers are deliberately hard-coded and not policy-configurable — first payment to a new vendor, and any bank-account change. These sit at the boundary between measurable and judgment-dependent transactions.
Making these triggers configurable would create a suppression attack surface — a path by which a policy change, rather than a counterparty confirmation, could move a high-judgment payment through without review. Hard-coding closes that path structurally.

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Example

POL-v4.2
Only one policy version is active at any time. The active version is enforced by a unique constraint, not by application convention.