What is master contract proxy in SAP FS-MCM - Master Contract Management?

SAP Term: master contract proxy

• Component: FS-MCM

• Component Name: Master Contract Management

• Description: A mechanism of encapsulation that enables applications to access master contracts regardless of whether they are managed in the system or outside of it. The master contract proxy is implemented as an enhancement spot. &EXAMPLE& Participating accounts of a facility are in a different system than that of the master contract.

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• Key Concepts: 
  A master contract proxy is a feature of the SAP FS-MCM (Master Contract Management) component. It allows users to create a single contract that serves as a template for multiple contracts. This template can be used to quickly generate contracts with similar terms and conditions, saving time and effort. 
  
  How to use it: 
  To use the master contract proxy feature, users must first create a master contract in the SAP system. This master contract should contain all of the terms and conditions that will be used in the other contracts. Once the master contract is created, users can then generate new contracts based on the template. The new contracts will contain all of the same terms and conditions as the master contract, but can be customized with different values for each contract. 
  
  Tips & Tricks: 
  When creating a master contract, it is important to make sure that all of the terms and conditions are accurate and up-to-date. This will ensure that all of the contracts generated from the template are consistent and legally binding. Additionally, it is important to keep track of which contracts were generated from which master contract, as this will help with tracking and managing the contracts over time. 
  
  Related Information: 
  For more information on using the master contract proxy feature in SAP FS-MCM, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FS_MCM/2020/en-US