---
title: "Glossary: What Do All These Dates Mean?"
description: Learn about the terminology in Spark for the default fields that capture the various dates associated with your reservations, contracts, and lease agreements.
---

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# Glossary: What Do All These Dates Mean?

Spark has many default fields to capture the various dates associated with your reservations, contracts, and lease agreements, but the terminology might not be quite the same as what your team uses. Never fear - many of these can be updated in the Terminology section of your Contract Settings (see [Contract Terminology Settings](https://knowledge.spark.re/contract-terminology-settings?hsLang=en) for more details).

To help you understand each of these terms, see their descriptions below.

### Reservation Dates

 

| **Date** | **Description** |
| --- | --- |
| **Reservation Date** | The date the unit is reserved |
| **Reservation Executed Date** | The date the reservation is fully executed by all parties and , optionally, the reservation deposit has been received |

 

### Contract Dates

 

| **Date** | **Description** |
| --- | --- |
| **Contract Date** | The date the contract is written/generated; this defaults to the day it is created in Spark but can be manually updated to a past or future date if needed |
| **Sent Date** | The date the contract is sent for signatures; the contract and inventory statuses will automatically update to *Pending* (or your corresponding status names) on this date |
| **Offer Date** | The date that all purchasers have signed the contract; the contract and inventory statuses will automatically update to *Offer* (or your corresponding status names) on this date |
| **Vendor Acceptance Deadline** | The date by which the Vendor should accept the offer; no contract or inventory status updates are associated with this date |
| **Accepted Date** | The date the Vendor/Countersigner signs/accepts the offer (sometimes referred to as the *Effective Date* on a contract); the contract and inventory statuses will automatically update to *In Rescission* (or your corresponding status names) on this date |
| **Firm Date** | The date the contract becomes firm and binding; the contract and inventory statuses will automatically update to *Firm* (or your corresponding status names) on this date If a rescission period is enforced in the [General Contract Settings](https://knowledge.spark.re/general-contract-settings?hsLang=en), the firm date will be automatically calculated and applied. |
| **Estimated Completed Date** | The approximate date of completion; no contract or inventory status updates are associated with this date |
| **Completion Date** | The actual date of completion; the contract and inventory statuses will automatically update to *Completed* on this date |
| **Possession Date** | The date and time the purchaser takes legal possession of the unit; no contract or inventory status updates are associated with this date |
| **Move In Date** | The date and time the purchaser is scheduled to move in to the unit; no contract or inventory status updates are associated with this date |

 

### Leasing Dates

 

| **Date** | **Description** |
| --- | --- |
| **Application Date** | The date the agreement is written/generated; this defaults to the day it is created in Spark but can be manually updated to a past or future date if needed |
| **Sent Date** | The date the agreement is sent for signatures; the agreement and inventory statuses will automatically update to *Pending* (or your corresponding status names) on this date |
| **Application Date** | The date that all lessees have signed the agreement; the agreement and inventory statuses will automatically update to *Application* (or your corresponding status names) on this date |
| **Vendor Acceptance Deadline** | The date by which the Vendor should approve the application; no agreement or inventory status updates are associated with this date |
| **Approval Date** | The date the Vendor/Countersigner signs/approves the offer; the agreement and inventory statuses will automatically update to *Signed* (or your corresponding status names) on this date |
| **Lease Start** | The date the lease starts; the agreement and inventory statuses will automatically update to *Leased* (or your corresponding status names) on this date |
| **Estimated Lease End** | The approximate date the lease ends/expires; no agreement status update is associated with this date |
| **Lease End** | The date the lease ends/expires; the agreement status will automatically update to *Lease End* (or your corresponding status name) and the inventory status will automatically update to *Available* (or your corresponding status name) on this date |
| **Possession Date** | The date and time the Lessee takes possession of the unit |
| **Move In Date** | The date and time the Lessee is moving in to the unit |

 

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