The date on which a transaction is completed. In contracts that contain conditions that must be satisfied after the agreement is signed and dated but before it can become effective, the closing date is sometimes referred to as the date when these conditions precedent are satisfied and the transactions contemplated by the agreement are finally completed.

In loan transactions, the closing date is usually defined in the loan agreement itself to be the first date after the borrower satisfies the conditions precedent, or their satisfaction is waived by the lenders. In some loan transactions, the lender must notify the borrower in writing that it has satisfied the conditions precedent. In the notice that the lender delivers it must specify the exact closing date to avoid later uncertainty.