Agreement Lifecycle State [Dido Solutions, Inc Wiki]

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====== Agreement Lifecycle State ======

[[public:99_annexes:annex-b-terms-and-definitions:start|Go up to Terms and Definitions]]

===== Discussion =====

An Agreement Lifecycle State is a [[public:99_annexes:annex-b-terms-and-definitions:l:lifecycle_state|Lifecycle State]] identifying the modeled condition of an [[public:99_annexes:annex-b-terms-and-definitions:a:agreement|Agreement]] at a specified time.

An Agreement Lifecycle State records where the Agreement is within its defined lifecycle. The applicable lifecycle model defines:

  * The permitted Agreement Lifecycle States
  * The meaning of each state
  * The criteria for entering each state
  * The criteria for leaving each state
  * The permitted transitions among states
  * The [[public:99_annexes:annex-b-terms-and-definitions:l:lifecycle_event|Lifecycle Events]] that cause, authorize, observe, or record transitions
  * The Evidence required to support a state assignment
  * The rules used to derive a state assignment

Agreement Lifecycle States may include:

  * Proposed
  * Under Negotiation
  * Executed
  * Effective
  * Suspended
  * Terminated
  * Expired
  * Superseded

The applicable lifecycle model determines which states are used. This list does not establish a universal or exhaustive state vocabulary.

An Agreement Lifecycle State is distinct from an Agreement Lifecycle Event. A state represents the modeled condition of the Agreement at a specified time or during a specified period. An event represents an occurrence that may cause, authorize, observe, or record a transition between states.

An Agreement Lifecycle State is also distinct from an [[public:99_annexes:annex-b-terms-and-definitions:l:legal_determination|Legal Determination]]. An Agreement Lifecycle State records the model's representation of the Agreement. It does not by itself determine the Agreement's legal status, validity, effect, or enforceability.

===== Definition =====

> //[[public:99_annexes:annex-b-terms-and-definitions:l:lifecycle_state|lifecycle state]] identifying the modeled condition of an [[public:99_annexes:annex-b-terms-and-definitions:a:agreement|agreement]] at a specified time//

===== Source =====

Adapted from:

  * [[public:05-semantics:01-kinds-of-semantics:06-lifecycle-semantics|Lifecycle Semantics]]
  * [[public:99_annexes:annex-b-terms-and-definitions:l:lifecycle_state|Lifecycle State]]
  * [[public:99_annexes:annex-b-terms-and-definitions:l:lifecycle_stage|Lifecycle Stage]]
  * [[public:99_annexes:annex-b-terms-and-definitions:l:lifecycle_event|Lifecycle Event]]
  * [[public:99_annexes:annex-b-terms-and-definitions:o:operational_lifecycle_state|Operational Lifecycle State]]
  * [[https://spec.edmcouncil.org/fibo/ontology/FND/Agreements/Agreements/|Financial Industry Business Ontology, Agreements Ontology]]
  * [[https://spec.edmcouncil.org/fibo/ontology/FND/Agreements/Contracts/|Financial Industry Business Ontology, Contracts Ontology]]
  * [[https://www.omg.org/spec/SysML/2.0|OMG Systems Modeling Language Version 2.0]]

The expression //Agreement Lifecycle State// is defined by this corpus as a specialization of Lifecycle State for Agreements.

===== Note =====

  * An Agreement Lifecycle State applies to an identified Agreement
  * An Agreement Lifecycle State identifies the modeled condition of the Agreement at a specified time
  * The applicable lifecycle model defines the permitted states and transitions
  * A change in Agreement Lifecycle State does not overwrite an earlier state assignment
  * Each state assignment should identify its applicable time or Effective Period
  * Each transition should identify the Lifecycle Event that caused, authorized, observed, or recorded it
  * A state assignment may be asserted, observed, calculated, or derived
  * A derived state assignment should identify the rule and source information used to derive it
  * An Agreement may progress through different states without changing its identity
  * An Amendment does not necessarily establish an Amended Agreement Lifecycle State
  * An Agreement may remain Effective after an Amendment becomes effective
  * A Dispute does not necessarily establish a Disputed Agreement Lifecycle State
  * An Agreement may be Effective while a Dispute remains open
  * Suspension does not necessarily terminate the Agreement
  * Termination, expiration, and supersession represent different lifecycle outcomes
  * An Agreement Lifecycle State does not by itself constitute a Legal Determination
  * The platform-independent definition does not prescribe a particular state-machine notation, execution engine, or serialization format

===== Example =====

Party A and Party B negotiate an Agreement.

The Agreement is initially assigned the Proposed state. When negotiations begin, a Lifecycle Event records a transition to Under Negotiation.

The Parties subsequently execute the Agreement. The execution event records a transition to Executed.

The Agreement provides that it becomes effective on a later [[public:99_annexes:annex-b-terms-and-definitions:e:effective_date|Effective Date]]. When that date arrives and the applicable conditions are satisfied, a Lifecycle Event records a transition to Effective.

A later [[public:99_annexes:annex-b-terms-and-definitions:a:amendment|Amendment]] changes specified Agreement Terms. The Agreement remains in the Effective state. The Amendment and its associated Lifecycle Events are recorded separately.

A [[public:99_annexes:annex-b-terms-and-definitions:d:dispute|Dispute]] subsequently arises concerning one Agreement Term. The Agreement remains Effective while the Dispute is recorded and resolved separately.

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