On 10 November, the board of Rivane SA approves the closure of a site and announces it to employees on 25 November. From 1 December, the voluntary redundancy offer is subject to a contractual restriction that prevents Rivane from withdrawing it. Employees can accept it until 15 January. Before 1 December, Rivane had recognised no IAS 37 restructuring costs that include termination payments. The reporting date is 31 December (case facts). Write a note that determines at what date and for what reason a termination benefit liability exists, highlighting what is a matter of professional judgement.