The Ulster Unionist Party leadership has identified Thursday, November 13th, as the last feasible date for an election to a new assembly this year, provided a prior political agreement can be concluded with Sinn Féin.
This emerged last night as key players began the countdown to a conclusion of the current negotiations by next Thursday fortnight, October 16th, the due date they say to allow a mid-November poll to be held.
Some unionist sources yesterday struck a cautious note following Mr David Trimble's latest meeting with the Sinn Féin president, Mr Gerry Adams, on Thursday.
One usually reliable source told The Irish Times: "Up to then I thought this thing was going to roll. But I'm still not sure the republicans are anywhere near where they need to be."
However, the precision with which key players in the negotiation have charted the way to a mid-November election will reinforce speculation that the Ulster Unionist and Sinn Féin leaderships are edging toward agreement on an "acts of completion" deal.
Such a deal would enable Mr Trimble to commit his party to resume power-sharing after an election.
While insisting he still did not know if Sinn Féin could deliver sufficient for Mr Trimble to have a realistic chance of winning an election and resuming government thereafter, one UUP insider said: "I really do think we're in the last chance saloon with all this.
"Another failure now, and everything would run into deep trouble. I'm not sure the system could withstand another delay into the spring or summer of next year."
Mr Trimble has said an acceptable acts-of-completion deal must mean "complete decommissioning" and the "effective disbandment" of the IRA as a paramilitary organisation.
The Ulster Unionists are also likely to invoke previous comments by the British Prime Minister, Mr Tony Blair, in advocating that any credible deal should involve a resolution of Sinn Féin's attitude towards the Police Service of Northern Ireland.
However, the public signals from Mr Adams are that this can only be achieved in the context of firm commitments from the British government and Mr Trimble for the devolution of policing and justice powers within a specified timeframe during the lifetime of the next assembly.
At a meeting of the party executive next Friday Mr Trimble will seek support for his definitive response to the British-Irish Joint Declaration as the basis for future political progress.
Depending on the outcome of that meeting the UUP officers could be asked later the same day to push the button for the start of formal disciplinary proceedings against the three MPs, Mr Jeffrey Donaldson, the Rev Martin Smyth and Mr David Burnside, who resigned the party whip last July.