finalized

Finalized is the past tense and past participle of finalize. It describes something that has been brought to a final form, concluded, or approved, such as a document, plan, decision, or contract. When something is finalized, it is typically considered complete and binding, subject to any stated procedures for amendment.

Etymology: Finalize comes from the word final with the suffix -ize, forming a verb meaning to make final. The term final itself traces back to Latin finalis, meaning “of an end” or “final.”

Legal and contractual contexts: In legal and business settings, finalized terms indicate that negotiations have concluded and the documents are ready for execution. A finalized contract typically means the terms are settled and the agreement may be enforced, subject to any applicable laws and signing procedures.

Project management and product development: In these contexts, finalized requirements, designs, or specifications have completed review and approval processes. A finalized plan or design is considered ready for implementation, and it may be accompanied by a formal freeze to prevent scope changes.

Other usage and nuance: In data, finance, or regulatory work, finalized data or statements imply that edits are closed and figures are closed for reporting. While often used interchangeably with completed, finalized can imply a formal, approved state that authorizes proceeding or archival.

See also: finalize, final, finalization, final form.