Awaiting accept
Order-book auto-match and click Open contract create a pending deal. Messaging unlocks after the required accept(s). On Messages, the match panel and open chats show the market title, your buy/sell role, fixed price, contract status, and escrow status in one strip (same facts you see on Contracts). Decline either as unavailable (your order is removed when you have one) or prefer not this person (locked orders return; that pair will not auto-match again). If the other side does not answer within 3 days, the request cancels and their order is removed as unavailable.
Opened
When a chat starts, the contract is marked as opened. This is the active state for normal messaging and negotiation. Messages keeps the market, role, price, contract status, and escrow status visible at the top of the thread so you do not need to leave chat to check the deal.
Paused
Either party can pause the contract. You will be asked which side the issue is on, a short reason, and when the pause should expire. Learn more in Why we ask about the pause reason.
Resumed
If the pause is resolved before expiry, either party can resume the contract so both sides can continue.
Ended
A contract can be ended manually, or it may end automatically if a pause expires without a resume.