Yes. The clock doesn't work until you provide the information required. If you don't, you are asked for more.
On your second question, having timelines is a good idea. We've had projects that have gone for four years—very clean, good projects. There was a lot of spinning of wheels, people changing jobs, and having to redo things. If it had been kept to a one-year timeframe, or even two, it would have been more efficient for everybody.