This market will resolve to "Yes" if Canada and the European Union sign or formally adopt a written diplomatic instrument that establishes an associate membership or equivalent status for Canada in relation to the European Union by the specified date, 11:59 PM ET. Otherwise, it will resolve to "No".
An instrument establishes an associate membership or equivalent status if it is described in its own text as establishing associate membership, associate member status, or an equivalent formulation. Proposals, invitations, statements of intent, negotiations, or action by only one side do not qualify. Existing or sector-specific trade, defence, research, or mobility arrangements alone do not qualify.
Unless the written instrument is formally adopted without signature as described below, the instrument must be signed by both Canada and the European Union (either as an institution or as a composite of its member states). Both parties must either sign the same document or sign individual documents that substantively and directly indicate acceptance of the same underlying instrument, regardless of minor formatting, wording, or translation differences between the signed versions. Both physical signatures and officially-issued electronic signatures will qualify as signatures.
If the written instrument is recognized by Canada and the European Union as not requiring signature for execution, formal adoption of the instrument by both parties without signature will qualify. Formal adoption may be established by official actions, including: (i) an official joint statement announcing that Canada and the European Union have adopted, approved, executed, concluded, or otherwise finalized the instrument; (ii) mutual official confirmation that the same published instrument has been agreed to, adopted, approved, executed, or concluded by both parties; (iii) adoption, approval, or endorsement through an official resolution, ministerial decision, executive decision, or equivalent institutional act, where that act is the mechanism by which the relevant party adopts the instrument; or (iv) an exchange of official diplomatic notes or letters confirming acceptance of the same instrument.
Whether an instrument qualifies will be primarily determined by its officially released text. A qualifying instrument must be signed or formally adopted by both Canada and the European Union by the specified date, 11:59 PM ET. If such an instrument is signed or formally adopted by that time, but the complete text has not been released within 28 days of adoption, official and definitive announcements from Canada and the European Union regarding the text, or a consensus of major news agencies of record, may be used to determine whether the instrument qualifies. If, on the specified date, the text of such an instrument has not been released and genuine material ambiguity remains as to whether it satisfies this market's requirements, settlement may be postponed to allow for 28 calendar days after the date of adoption to pass pending release of the text.
Once a diplomatic instrument has been signed or formally adopted without signature by both Canada and the European Union and confirmed to satisfy the requirements of a qualifying written diplomatic instrument, this market's condition is met, regardless of whether the instrument later enters into force, is ratified, receives legislative or treaty consent, or is subsequently repudiated, withdrawn from, or not implemented by Canada or the European Union.
The primary resolution sources for this market will be official information from Canada and the European Union and the officially released text of an instrument; however, a consensus of credible reporting may also be used.
