Purpose: The WORKDAY() function returns the date that is a specified number of working days before or after a starting date, excluding weekends and optionally excluding specified holidays. By using AllDrafts' custom USHOLIDAYS() function, you can also exclude all upcoming US Federal Holidays.

Syntax:

WORKDAY(start_date, days, [holidays])

Arguments:

  • start_date: The start date as a reference.
  • days: The number of working days before (negative value) or after (positive value) the start date.
  • holidays (optional): An array of dates which should be excluded. This is where we can use our custom USHOLIDAYS() function to exclude US Federal Holidays.

Returns: A date that is a specified number of working days from the start_date.

Example Uses in Legal Document Context:

  1. Agreement Expiry Date:

    If you have an Agreement_Date and the terms specify it expires after 30 business days:

    =WORKDAY(Agreement_Date, 30, USHOLIDAYS())

  2. Effective Date for New Policies:

    For a policy that becomes effective 10 business days after a specified Effective_Date:

    =WORKDAY(Effective_Date, 10, USHOLIDAYS())

  3. Lease Renewal Notification:

    If there's a clause in a lease agreement that requires either party to notify the other of non-renewal 45 business days before the Lease_Expiration_Date:

    =WORKDAY(Lease_Expiration_Date, -45, USHOLIDAYS())

  4. Payment Due Date:

    For a contract where payment is due 15 business days post the Invoice_Date:

    =WORKDAY(Invoice_Date, 15, USHOLIDAYS())

  5. Project Delivery Date:

    If a project is expected to be delivered 60 business days from the Project_Start_Date:

    =WORKDAY(Project_Start_Date, 60, USHOLIDAYS())

Note: It is advisable to double-check dates, especially in legal contexts, as other factors might influence deadlines and date-sensitive decisions.