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

SAP Term: guaranteed advance

• Component: CRM-IM-IPM

• Component Name: Intellectual Property Management

• Description: Advance, which the recipient is guaranteed, even if the total royalties do not match the advance c.f. repayable advance.

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• Key Concepts: 
  Guaranteed advance is a feature of SAP CRM-IM-IPM Intellectual Property Management that allows customers to make an advance payment for a product or service before it is delivered. This payment is then held in escrow until the product or service is delivered, at which point the customer can either accept or reject the delivery. If accepted, the payment is released to the supplier; if rejected, the payment is refunded to the customer. 
  
  How to use it: 
  To use guaranteed advance, customers must first agree to the terms of the advance payment with their supplier. Once agreed upon, customers can make their payment via a secure online portal. The payment will then be held in escrow until the product or service is delivered. Upon delivery, customers can either accept or reject the delivery. If accepted, the payment will be released to the supplier; if rejected, the payment will be refunded to the customer. 
  
  Tips & Tricks: 
  When using guaranteed advance, it is important to read and understand all terms and conditions before making a payment. Additionally, customers should ensure that they have sufficient funds available in their account to cover any potential refunds should they reject a delivery. 
  
  Related Information: 
  For more information on guaranteed advance and other features of SAP CRM-IM-IPM Intellectual Property Management, please visit SAP’s website at https://www.sap.com/products/crm-im-ipm.html