You can define a status for the order, shipping and the payment.
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Name
Your internal name for this status
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Type
Is this the status for an order, payment or shipping? Once the status is created you can’t change the type
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Display Name
The name which is shown to a customer.
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Description
A descriptions of this status. What does it mean?
All prices include VAT. The gross price will vary depending on the selected shipping country.