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This paper presents a formalisation of our Dynamic Electronic Institutions model. In our opinion Dynamic Electronic Institutions arise from the convergence of two research areas: electronic institutions and coalition formation. We believe that these kinds of institutions are potentially important in open-agent system applications because they are well suited to many application domains in which autonomous agents have to collaborate and engage themselves in temporary alliances that require some regulatory measures. This paper presents a brief summary of our previous work on dynamic institutions, introduces the formalisation of our model, explains the process of turning a coalition into a dynamic institution (foundation process), and describes our current and future work.