Describing a process, program, contract, or agreement that automatically initiates or implements its provisions without requiring further external action or intervention. It operates independently once certain predefined conditions are met, triggering the execution of its terms. This autonomy stems from inherent design or coding, enabling immediate effect and preventing delays or dependence on third-party involvement. The nature of self-execution can vary widely, from computer code to legal instruments, all sharing the characteristic of automated implementation.
Self-executing meaning with examples
- The smart contract was self-executing; once the pre-agreed conditions about price fluctuations were met, it automatically transferred funds from one digital wallet to another, completely bypassing the need for manual approval. Its design guarantees the transaction's seamless and automatic completion.
- A self-executing lease agreement stated that if the rent was late by more than a week, the tenant would be automatically charged a late fee and then be sent a notice of eviction. Both are self-executing due to the inclusion of the contract language and its terms.
- Upon detecting a security threat, the software’s self-executing protocol triggered a system shutdown and initiated data backup procedures to prevent information loss. This immediate reaction minimized damage and secured sensitive data, thus minimizing the impact from external factors.
- The self-executing nature of the automated irrigation system meant that it turned the sprinklers on and off based on soil moisture levels. This ensured efficient watering, optimizing resource use without requiring any manual intervention or management and adapting to conditions.