Chapter 4. Contract Lifecycle
Contract is a key concept of Zero Exchange. Contract binds the needs of participants with the appropriate offers and joins participants together, allowing use the phenomena of division of labor to achieve goals. The contract's lifecycle consists of the following stages:
- Uncompleted. Contract have unsatisfied needs.
- Ready. All demands in the contract have corresponding offers.
- Accepted. Each participant must accept the contract if convinced that he / she clearly understands his / her obligations under this contract, and is ready to execute them.
- Executed. Contract is accepted by all participants. Once the last participant accepts the contract, all participants should proceed to implement its obligations in accordance with the contract.
- Completed. All participants fulfilled their obligations.
The contract lifecycle can be represented using the following diagram: