execute a contract

Consider the statement "Acme has executed many subcontracts with foreign firms". Does the concept of "executing a contract" refer only to the act of setting up, or establishing, a contract? Or does it cover the actual carrying out of all the work specified by the contract? Obviously, I can avoid the problem by writing "Acme has established many subcontracts...." since my intent is to focus on the matter of setting up the contract. However, I am interested in your thoughts.

My thoughts:

expos4ever said:

Consider the statement "Acme has executed many subcontracts with foreign firms".

To execute = to carry out to completion and, in the limited context of the example, this sounds to me as if someone with an imperfect grasp of English has attempted to sound as if they know "business jargon".

I agree with Paul.

In the USA I would expect to hear "fulfilled many contracts".

To me, 'executed' focuses on the work carried out, not the setting up of the contract itself.
Is there any part of the process of setting up these contracts you want to focus on? 'Negotiated' might be good if you want to highlight the company's business acumen. 'Set up' or 'established' if you want to show your familiarity with setting up international contracts.