What is warranty in SAP CEC-SAL-CLM - Contract Lifecycle Management?

SAP Term: warranty

• Component: CEC-SAL-CLM

• Component Name: Contract Lifecycle Management

• Description: Contract stating a guarantee of something that is being offered.

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• Key Concepts: 
  Warranty is a feature of the Contract Lifecycle Management (CLM) component of SAP CEC-SAL. It is a type of agreement between a customer and a vendor that provides the customer with certain rights and obligations in the event of a product or service failure. The warranty agreement typically includes details such as the duration of the warranty, the type of coverage, and any exclusions or limitations.
  
  How to use it: 
  The warranty feature in CLM allows customers to create and manage warranty agreements with vendors. Customers can define the terms of the agreement, including the duration, coverage, and any exclusions or limitations. The system also allows customers to track and monitor warranty claims and payments.
  
  Tips & Tricks: 
  When creating a warranty agreement, it is important to ensure that all relevant information is included in the agreement. This includes details such as the duration of the warranty, the type of coverage, and any exclusions or limitations. It is also important to ensure that all parties involved in the agreement are aware of their rights and obligations under the agreement.
  
  Related Information: 
  The SAP CEC-SAL Contract Lifecycle Management component also includes features such as contract management, dispute resolution, and compliance management. These features can be used to manage contracts with vendors and ensure that all parties involved in the agreement are aware of their rights and obligations.