Investment Status Transition
The established functional reference defines the investment status vocabulary. The Investment service is authoritative for state transitions. Dashboard screens render returned state and guide the investor through the applicable next step; they do not independently settle an investment.
States
| Status | Meaning | User-visible consequence |
|---|---|---|
NEW | Investment work has been created but has not been finally submitted. | The investor can continue or abandon the in-progress journey subject to service rules. |
CONFIRMED | The investor has submitted the commitment for processing. | The dashboard can show the investment and any pending next action. |
LEGALLY_CONFIRMED | The owning system reports the legal/eligibility requirements required for this investment have been satisfied. | Funding or subsequent processing may proceed according to the service. |
SUCCESSFULLY_CLOSED | The owning system reports successful closure of the parent fund and investment. | The investor sees the completed investment record and associated servicing information. |
UNSUCCESSFULLY_CLOSED | The owning system reports that the parent fund closed without success. | Refund or other remediation is a separate service-controlled process. |
CANCELLATION_REQUESTED | A cancellation has been requested after submission. | The investor sees that the request is awaiting the applicable operational outcome. |
CANCELLED_BY_INVESTOR | The investor cancelled before final submission. | The in-progress investment is no longer active. |
CANCELLED_BY_MANAGER | An authorized manager or operations process cancelled the investment. | The investor sees the cancellation outcome; any reversal or refund is reported separately. |
Transitions
| Transition | Initiator | Guard | Result |
|---|---|---|---|
NEW to CONFIRMED | Investor submits the review step | Required client steps are complete and the service accepts the submission. | A submitted commitment is recorded by the Investment service. |
CONFIRMED to LEGALLY_CONFIRMED | Owning service | Applicable legal and eligibility checks are satisfied. | The service can progress to the funding/processing path. |
NEW to CANCELLED_BY_INVESTOR | Investor | The work has not been submitted and the service permits cancellation. | The draft journey ends. |
CONFIRMED or LEGALLY_CONFIRMED to CANCELLATION_REQUESTED | Investor | The investment is in a cancellable state. | An operations review or service workflow can begin. |
CANCELLATION_REQUESTED to CANCELLED_BY_MANAGER | Authorized manager or service | The request is approved or an operational reason requires cancellation. | The cancellation outcome is recorded. |
LEGALLY_CONFIRMED to SUCCESSFULLY_CLOSED | Owning service | The parent fund closes successfully under its service rules. | The investment becomes successfully closed. |
LEGALLY_CONFIRMED to UNSUCCESSFULLY_CLOSED | Owning service | The parent fund closes unsuccessfully under its service rules. | The investment becomes unsuccessfully closed. |
Constraints
- Status names in API contracts must be normalized to one published enum before a service integration is treated as authoritative.
- Status change must retain the actor or system initiator, timestamp, reason where applicable, and related payment/custody reference in the owning system.
- Payment initiation, settlement, refund, share allocation, and token transfer are related processes. They must not be inferred solely from an investment status shown by the client.
- A retry after an ambiguous submission requires an owner-defined idempotency or recovery policy.