|As technologies for new generations of digital business systems have forged ahead, new and exciting applications have become feasible. However, along with this potential it has also become clear that very significant challenges remain in the need for rigorous analysis of possible execution behaviour and the need for business interactions to be underpinned by sound, binding legal agreements. The main aim of the CONTRACT project is therefore to provide innovative new solutions, which specifically address the need for sound software and business guarantees in digital business applications. In particular, CONTRACT will build on existing theories of software contracts to create new formal models and practical tools for use of dynamic contractual agreements in electronic business environments.The results will make it possible to:- specify electronic business interactions in terms of contracts,- dynamically establish and manage contracts at runtime,- apply formal verification techniques to collections of contracts in a digital business environment, and,- apply monitoring techniques to contract implementation to help increase confidence in business infrastructures.The contract based approach promises to be a significant breakthrough in the formal specification and verification of business software systems since it raises the level of abstraction at which verification methods can work from detailed execution code to obligations, commitments and rights. Project results will include publicly available theoretical models and a reusable contracting language specification, open source software components compatible with leading business environments and tools implementing innovative verification techniques that make it possible to check contract properties both at design time and run time.The consortium includes 1 major industrial partner, 3 Universities, a research institute and 3 associated SMEs participating in distinct business case studies.