While an enterprise agreement may be technically „outdated“ after the expiry of the nominal expiry date, under the FW Act, an enterprise agreement ceases to exist and regulate the working relationship between the parties until it has been amended, terminated or replaced. A new enterprise agreement can only enter into force when the previous agreement has exceeded its nominal expiration date. When two parties enter into a financial contract, they agree to certain conditions. Depending on the nature of the contract, these provisions may include each party`s obligations and responsibilities, payment terms, maturity dates, interest rates, additional charges, financial instruments involved, what happens when a party fails to meet its obligations and the end date of the contract. This means that the provisions of a former enterprise agreement apply to parties covered by the agreement, even after the nominal expiry date. These provisions are enforceable and must be enforced, even if the nominal expiration date was several years earlier. In some cases, two parties may enter into a contract that will require payment on each anniversary date of the start of the contract. However, a dispute may arise if there is no written launch date. In this case, a court may be in default on the date the parties signed the contract or, in the case of an oral contract, the day an offer was accepted. If neither party remembers the date the contract was signed, the court may be required to determine the date of the first payment and use that date as the anniversary for each subsequent year. Termination dates are included in many types of financial contracts, including: „The parties acted as if they were still settled under the terms of the original agreement (except that, since it had already expired, it could either terminate the replacement agreement with appropriate termination)“ to Brambles Ltd v Wail; Brambles Ltd/Andar Transport Pty Ltd  VSCA 150, the Victorian Court of Appeal considered the terms of an expired contract that worked as follows: A clear clause is the termination date.
Given the expired termination date of the contract, the court considered how to terminate the contract. In this regard, the Court indicated that there are two ways of expressing the nominal expiry date in an enterprise agreement: „The written agreement that expired was a brief agreement that did not contain all the agreed terms. In these and other particular circumstances of the case, Brooking I refused to have a clause relating to a certain notice period inferred in the tacit replacement agreement. However, it is significant that, for the present purposes, his Honour distinguished the case „from a lengthy written agreement with many conditions for relations between the parties, including an agreement, when the parties have led to the conclusion that, despite the expiry of the clause, they continue to regard the provisions of the agreement as their relationship.“ Employers should be careful not to confuse the expiry of an enterprise agreement with the termination of an enterprise contract, as it is only in the case of the latter that the terms of the bonus (if one applies to staff) should resume their application and, therefore, respect the terms of the enterprise agreement until they cease their activities under the law. A contract does not need a date to be valid. Most of the time, it starts the day it`s signed. An enterprise agreement does not have to give a specific date to comply with the requirements of s.186 (5). An enterprise contract may set a nominal expiry date based on the expiry date after the end of a period after the start or approval of the agreement.  If an approved agreement is still in service, the provisions of the National Employment Standards (NES) apply in cases where a fee in the agreement is lower than that provided by the NES.