The contract does not contain a lease

Because the contract does not contain a lease IFRS 16 Leases does not apply.

Signing a contract will not require a journal entry unless cash, a promissory note, or another asset is exchanged at the time. Signing a contract causes  a commitment but does not necessarily create a liability or asset at the time of signing.

The entity shall account for a non-lease contract applying other appicable IFRSs.

This is part of the  walk through decision model that may assit in determining if a contract contains a lease within the scope of IFRS 16 Leases, go back to this page to start the decision model correctly.