Deployed State

The contract, approved by both parties, the Contractee (buyer) and the Contractor (seller), is then deployed (published) to the blockchain.
Deployment is the first actual blockchain transaction* that changes the contract state from draft to deployed state.
Deployed state means that the new contract is given the contract address. It is the place in the blockchain database where the contract, its data, and funds (if any) are stored.
More on the contract address, and its role in various contract operations is here.
Unlike the draft state which requires both parties' involvement, the deployed state requires a Contractee to take a single action "Deploy". At this point, the Contractor is advised not to proceed with the order.
For more information refer to "What is Contract Action".
Once the contract enters a deployed state, neither party can edit the contract terms. Both parties are strongly advised to agree on the terms while the contract is in the draft state.
The time of the transaction and the update on the contract state can be seen in the Contract Chat. Also, a blockchain explorer can be used to verify the transaction details.
Good to know
All blockchain transactions are processed by nodes (individual computers) and require gas fees to be paid.
More on gas fees and why they exist can be found in "What is Network".