when the contract is concluded

when Preposition

— At which time (sometimes a question) "When did you start learning English?" - "Three years ago." "When does the film start?" - "At seven o'clock." — At the time She phoned me when I was in the bath. It was the year 1996 when I met John. — After When I get up, I always drink a cup of coffee.

the Determiner

— Used, instead of a, to reference something specific, already known to exist. Compare "I read a book." and "I read the book." — Used with a stress, to show that the word following is special. Are you the John Smith that I went to school with? — Used with an adjective that acts like a noun to mean all of the people concerned The poor are always with us. — Used with superlatives forms of adjectives and adverbs. You are the best.

contract Noun

— A contract is a legal agreement to trade goods, services and/or property. It's usually written down. If you would just sign this contract, the car will be yours. In Japan, most worker’s employment contracts last until the age of sixty. My father’s employment contract is for forty years. You must look over the contract before you sign it.

contract Verb

— If something contracts, it gets smaller. As the wood dries out, it contracts. — If you contract someone to do a job, you enter into a contract with them. We've contracted a cleaning company to take care of the office. When there's too much work, there are a number of small firms to which we will contract it out. — If you contract a disease, you become sick with it. It's hard to understand why people risk contracting sexually transmitted diseases. He contracted the flu.

is Verb

— A form of the verb be when talking about someone or something else. He is late for class. Is it hot in here?

concluded

— adjective (= complete, ended, over, terminated) having come or been brought to a conclusion the harvesting was complete the affair is over, ended, finished the abruptly terminated interview