Agreement Identifier

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An Agreement Identifier is an Identifier that identifies an Agreement.

An Agreement Identifier identifies the negotiated understanding among the Parties. It does not identify an Agreement Document that records, expresses, or provides Evidence of the Agreement.

An Agreement Identifier may be assigned by:

• A Party to the Agreement
• An agreement-management system
• A contract-management system
• An execution facility
• A repository
• A regulatory authority
• Another authorized assigning authority

An Agreement may have more than one Agreement Identifier when different Parties, systems, repositories, or identifier schemes identify the same Agreement.

An Agreement Identifier should be interpreted together with the identifier scheme, assigning authority, and uniqueness scope under which it was assigned.

An Agreement Identifier ordinarily remains associated with the same Agreement throughout its lifecycle. An Amendment may change specified Agreement Terms without changing the identity of the Agreement being amended.

A Replacement Agreement ordinarily has its own Agreement Identifier because it represents a different Agreement, even when it supersedes an earlier Agreement.

identifier that identifies an agreement

Adapted from:

• Identifier
• Agreement
• OMG Commons Identifiers Ontology

  • Relevant concepts include Identifier, Identifier Scheme, identifies, and is identified by
• OMG Commons Ontology Library, Version 1.3
• Financial Industry Business Ontology, Agreements Ontology
• Financial Industry Business Ontology, Contracts Ontology

This defines Agreement Identifier as a specialization of Identifier for Agreements.

• An Agreement Identifier identifies an Agreement
• An Agreement Identifier does not identify an Agreement Document
• An Agreement Document Identifier identifies an Agreement Document
• One Agreement may have multiple Agreement Identifiers
• Multiple identifiers may identify the same Agreement under different identifier schemes
• An Agreement Identifier must be interpreted within its identifier scheme and uniqueness scope
• The assigning authority should be identified
• The date and method of assignment should be recorded when required
• An Agreement Identifier should remain stable within its defined scope
• An Agreement Identifier must not be reassigned to a different Agreement when reassignment would create ambiguity
• An Amendment does not necessarily change the Agreement Identifier
• An Amendment may have its own Agreement Identifier when the Amendment is modeled as a separate Agreement
• A Replacement Agreement should have an Agreement Identifier different from the identifier of the superseded Agreement
• A change in Agreement Lifecycle State does not change the Agreement Identifier
• A change to an Agreement Document does not necessarily change the Agreement Identifier
• An Agreement Identifier does not by itself establish the existence, validity, enforceability, or legal effect of the identified Agreement
• Evidence and provenance associated with identifier assignment should be preserved
• An Agreement Identifier is distinct from a Legal Entity Identifier
• An Agreement Identifier is distinct from a Unique Transaction Identifier
• An Agreement Identifier is distinct from an Agreement Document Identifier

Party A and Party B enter into an Agreement.

Party A assigns:

• Identifier value: `AGR-2027-00419`
• Identifier scheme: Party A Agreement Identifier Scheme
• Assigning authority: Party A

Party B assigns:

• Identifier value: `MA-883721`
• Identifier scheme: Party B Master Agreement Identifier Scheme
• Assigning authority: Party B

Both Agreement Identifiers identify the same Agreement.

The executed Agreement Document has a separate Agreement Document Identifier.

A later Amendment changes specified Agreement Terms but does not change the identity of the Agreement being amended. The Amendment may receive its own Agreement Identifier if it is modeled as a separate Agreement.