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Default Contract Status Picklist Values
The contract status field drives the contract Object State Definition. You can configure picklist values in the contract status field.
Only three default status values are available: In Approval Process, Activated, and Draft. The additional status values are created when the ContractManagement license is enabled in the org. If you later disable the license, the status values associated with the ContractManagement license can’t be deleted from the org.
Here's the list of default picklist values and associated status categories that are included by default when the ContractManagement license is enabled.

- Reorder Contract Status
You can use the Reorder button to modify the sequence of the contract states.

