What is 'contract validity date' in SAP FS-CM - Claims Management?

contract validity date - Overview

• Component: FS-CM

• Component Name: Claims Management

• Description: Point in time at which contract reengineering becomes effective.

contract validity date - Details

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  Key Concepts: 
  Contract validity date is a term used in SAP FS-CM Claims Management. It is the date on which a contract becomes valid and can be used for processing claims. The contract validity date is set when the contract is created and can be changed at any time. 
  
  How to use it: 
  In SAP FS-CM Claims Management, the contract validity date is used to determine when a contract can be used for processing claims. When creating a new contract, the user must enter the contract validity date. This date can be changed at any time by the user. 
  
  Tips & Tricks: 
  When setting the contract validity date, it is important to ensure that it is set to a date that is in the future. This will ensure that the contract cannot be used until it has become valid. 
  
  Related Information: 
  The contract validity date is related to other terms such as contract expiration date and claim processing date. The expiration date is the date on which a contract expires and can no longer be used for processing claims, while the claim processing date is the date on which a claim was processed.