What is master contract for determination of pricing criteria in SAP FS-MCM - Master Contract Management?

SAP Term: master contract for determination of pricing criteria

• Component: FS-MCM

• Component Name: Master Contract Management

• Description: The master contract in which the basic data and the time periods for the determination of pricing criteria are defined. The baic data includes the qualifiying period, the benefit criterion, and the benefit level.

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• Key Concepts: 
  A master contract for determination of pricing criteria is a contract that is used to define the pricing criteria for a particular customer or group of customers. This contract is used to set the terms and conditions for pricing, such as discounts, payment terms, and other conditions. The master contract is then used to determine the pricing for each individual transaction with the customer. 
  
  How to use it: 
  The master contract for determination of pricing criteria is created in the SAP system using the FS-MCM Master Contract Management component. This component allows users to create and manage contracts with customers, as well as set up pricing criteria for each contract. Once the master contract is created, it can be used to determine the pricing for each individual transaction with the customer. 
  
  Tips & Tricks: 
  When creating a master contract for determination of pricing criteria, it is important to ensure that all of the terms and conditions are clearly defined and agreed upon by both parties. Additionally, it is important to review the master contract regularly to ensure that it is up-to-date and still meets the needs of both parties. 
  
  Related Information: 
  For more information on using the FS-MCM Master Contract Management component in SAP, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FS-MCM/latest/en-US