Expirations

Expirations refer to end points at which something is no longer valid or safe to use. They occur across domains such as consumer goods, food, medicine, contracts, and financial instruments.

In consumer goods and food, an expiration date is the date after which the producer does not guarantee safety or quality. There are distinctions: use-by dates are safety-critical, while best-before or best-by dates relate to quality. For many non-perishable items, safe use may extend beyond the date, but quality can decline over time.

In pharmaceuticals, expiration dating is based on stability testing. After expiration, potency or sterility cannot be guaranteed. Many medicines should be disposed of by or before the expiration date; some regulators require strict removal from the market or specific disposal procedures.

In contracts and legal contexts, expirations mark termination unless renewed or extended. Leases, licenses, warrants, and guarantees have specified end dates and renewal terms; certain events or breaches can trigger earlier expiration under notice provisions.

In finance, expiration refers to the date when options, futures, or other derivatives cease to exist or can be exercised. Settlement typically follows expiration, and some instruments may be exercisable only on or before that date, depending on the contract type.

Inventory management and risk mitigation use expiration data to control stock. Methods like FEFO (first-expired-first-out) prioritize older stock to minimize waste. Proper labeling, recalls, and disposal procedures support safety and regulatory compliance.