In Tomorro, a contract goes through several statuses that reflect its progress, from preparation to signature, and then throughout its lifecycle.
Below is a clear and structured overview of the existing contrat statuses.
Understanding contrats under negotiation
A contrat under negotiation can go through several successive stages.
Being in draft
The contrat is being drafted but has not yet been shared with the counterparty.
It is only visible internally.
Being under negotiation
The contrat has been sent to the counterparty or is under internal or external review.
Discussions, comments, suggestions, or edits may take place.
Being in signature
The contrat is finalized and awaiting signature from one or more parties.
Depending on the defined signing order, the contrat may have different statuses:
To be signed by the counterparty
To be signed internally
These statuses make it clear which party needs to sign first in order to move the contrat forward.
Managing approvals during negotiation
At each stage, one or more approvals may be required, for example:
Pending approval before sending to the counterparty
Pending approval before signature
As long as the approval is not validated, the contrat cannot move to the next stage.
Understanding contrat lifecycle statuses
Once the negotiation is completed, the contrat enters its contractual lifecycle.
Executed contrat
This status applies to contrats with instant execution.
All obligations and effects of the contrat apply immediately after signature.
Active contrat
The contrat is in force and currently being executed.
The terms and conditions are applied and monitored throughout the contrat duration.
Terminated contrat
The contrat has reached its end:
either because its end date has passed,
or because an open-ended contrat has been terminated.
At this stage, no further action is required.