What is prior charge in SAP FS-CMS - Collateral Management System?

SAP Term: prior charge

• Component: FS-CMS

• Component Name: Collateral Management System

• Description: An own right or a third party right in a better priority with reference to an asset within the collateral constellation.

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• Key Concepts: 
  Prior charge is a feature of the FS-CMS Collateral Management System (CMS) that allows users to set up a charge on a collateral item before it is actually used. This charge is then applied when the collateral item is used, allowing for more efficient management of collateral items. 
  
  How to use it: 
  To use the prior charge feature, users must first set up the charge in the CMS. This can be done by entering the details of the charge, such as the amount and type of collateral item, into the CMS. Once this is done, the charge will be applied when the collateral item is used. 
  
  Tips & Tricks: 
  When setting up a prior charge, it is important to ensure that all details are correct and up-to-date. This will ensure that the charge is applied correctly when the collateral item is used. Additionally, it is important to keep track of all prior charges in order to ensure that they are applied correctly and efficiently. 
  
  Related Information: 
  For more information on prior charges and how to use them in FS-CMS, please refer to SAP’s official documentation on Collateral Management System (CMS). Additionally, there are many online resources available that provide detailed information on how to use prior charges in CMS.