Docs Agreement State Definitions

The following are the different states in which a Docs agreement may exist: 

Draft - A saved version of a non-initiated (Pending) agreement. No action may be taken by counterparties until the initiating party has sent the agreement for initiation. Drafts may be either initiated (by originating party) or deleted.

Pending Initation  - An Initiated agreement pending action by either the Customer and/or Trader party to add one or more broker parties to their 'Approved Broker' list; OR an agreement requiring action by FIA Tech to either match a request to an existing party, or create a new non-conformed entity.  Agreements may be either initiated, saved as a Draft, or deleted. Please see the Visibility Request article for more information.

Initiation Rejected - An Initiated agreement that has been rejected by a counterparty or FIA Tech. Rejected agreements may be either amended and reinitiated, or deleted by the initiating party.

Composition - Agreement details are being added to the Legal Language, Rates, and Clearing Account workstreams, and being Approved/Rejected by parties.  While in Composition, agreements may be moved forward for Execution, or Deleted. 

Execution  - An agreement that is ready to be fully executed by Execution Phase Approvers, following all workstreams having been approved by all parties.  While in Composition, agreements may be either Executed or Deleted. 

Executed - ​A fully approved and executed agreement.  Once fully executed, agreements may only be Terminated. Most changes made will generate an amendment. For additional information, please see the article related to editing Executed agreements in Docs.

Terminated - A formerly Executed agreement that has terminated at the discretion of one or more agreement parties.  Termination is a final action for an agreement, and agreements may not be brought back to a previous state. 

Stale - A non-executed agreement where no action has been taken by any party for 45 days. Stale agreements are subsequently deleted from the system after 45 days if not recalled from Stale status. To learn more about managing Stale agreements, see our article on Stale Agreements.