What is contract element in SAP FS-AM-CM - Contract Management?

SAP Term: contract element

• Component: FS-AM-CM

• Component Name: Contract Management

• Description: A business-specific, technically encapsulated part of a contract. Contract elements can be used across product categories. They have the following characteristics: Their own package/development class An assigned group of attributes Their own IMG activities Their own Business Data Toolset appplication BDT application Their own field groups, views and/or sections in the BDT Their own substructures includes in the receiver structure of direct input Their own Business Application Programming Interfaces BAPIs A special time dependency &EXAMPLE& Limit management, financial conditions

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• Key Concepts: 
  Contract element is a component of the SAP FS-AM-CM Contract Management module. It is used to define the terms and conditions of a contract, such as the duration, payment terms, and other details. It also allows users to track the progress of a contract and its associated documents.
  
  How to use it: 
  Contract elements can be created in the SAP system by entering the relevant information into the appropriate fields. This includes the contract type, duration, payment terms, and other details. Once created, users can view and manage the contract elements in the system.
  
  Tips & Tricks: 
  When creating a contract element, it is important to ensure that all relevant information is entered accurately. This will help to ensure that all parties involved in the contract are aware of their obligations and that any changes to the contract are tracked properly.
  
  Related Information: 
  For more information on using SAP FS-AM-CM Contract Management, please refer to the official SAP documentation or contact your local SAP support team.