Contract Execution
Execution occurs when all required acceptance and internal approvals are complete, all required properties are completed in the Contract Editor, and all presentation requirements are satisfied. At this stage, the external party users, and internal party users with the Negotiate Contract tasks can each indicate intention to sign the contract online. You also have the option of recording that the contract was executed without requiring online action by the external parties.
Definition
Contract execution is a system event in which all appropriate parties sign the contract and the contract becomes a legal entity. When the contract is signed, an internal user can record the execution and attach a scanned signed copy of a document to the contract.
After a contract is executed, no changes can be made to the contract language. The contract language of authored and received contracts or amendments and any attachments are disabled from updates or removals.
After execution, certain properties are frozen for filed contracts and quotes.