The contract certainty project began in December 2004 with an FSA challenge to the UK insurance industry to end the "deal now detail later culture". The industry took steps to improve way it develops and agrees contracts ensuring that the Insured has greater certainty over what it has bought and the Insurer greater certainty over what it has committed to. Contract certainty has brought operational improvements across the industry, reducing risk and improving service. Contract certainty applies to general insurance contracts either entered into by an FSA-regulated insurer, or effected through an FSA-regulated intermediary. Contract certainty is achieved by the complete and final agreement of all terms between the insured and insurer at the time that they enter into the contract, with contract documentation provided promptly thereafter.