(See: Run) Definition: A concluded contract is an agreement or contract between two or more parties that has been signed and that binds all the parties involved. This is a fully implemented contract. Many types of documents and legal forms can be executed to ensure that they become effective and binding. The most common documents that require performance include contracts between two or more parties, credit agreements. B-lease, service contracts and purchase contracts. These documents oblige the parties to execute the terms of the agreement. Executed contracts are easy to identify in real life. A person who agrees to pay for or participate in a particular service, whether by signing a physical contract or online, finds themselves in a situation where an executed contract is created. .