What is cross-contract advance in SAP CRM-IM-IPM - Intellectual Property Management?

SAP Term: cross-contract advance

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: An advance reference from a royalties scope or rights and royalties scope in a license acquisition contract to an advance group in the same or in another license acquisition contract. This allows the user to recoup royalties against advances in several contracts and against multiple advance groups.

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• Key Concepts: 
  Cross-contract advance is a feature of SAP CRM-IM-IPM Intellectual Property Management that allows customers to make payments in advance for goods or services that will be delivered in the future. This feature is useful for customers who need to make large purchases but do not have the funds available at the time of purchase. The customer can make an advance payment and then receive the goods or services when they become available.
  
  How to use it: 
  To use the cross-contract advance feature, customers must first contact their SAP representative and provide details about the goods or services they wish to purchase. The representative will then create a contract that outlines the terms of the purchase, including the amount of the advance payment and when it is due. Once the contract is signed, the customer can make the advance payment and receive their goods or services when they become available.
  
  Tips & Tricks: 
  When using cross-contract advance, it is important to read and understand all of the terms of the contract before signing it. Customers should also be aware that if they fail to make their payments on time, they may be subject to late fees or other penalties. Additionally, customers should keep track of their payments and ensure that they are received by SAP in a timely manner.
  
  Related Information: 
  For more information about SAP CRM-IM-IPM Intellectual Property Management, please visit SAP's website at https://www.sap.com/products/crm-im-ipm.html. Additionally, customers can contact their SAP representative for more information about cross-contract advance and other features of this software.