What is open credit commitment in SAP FS-MCM - Master Contract Management?

SAP Term: open credit commitment

• Component: FS-MCM

• Component Name: Master Contract Management

• Description: The part of a credit commitment that has not yet been utilized.

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• Key Concepts: 
  Open credit commitment is a feature of the SAP FS-MCM Master Contract Management component. It allows customers to make payments for goods and services over a period of time, with the customer's credit limit being used as a guarantee for the payment. The customer's credit limit is monitored and adjusted as needed to ensure that payments are made on time. 
  
  How to use it: 
  Open credit commitment can be used by customers to make payments for goods and services over a period of time. The customer's credit limit is used as a guarantee for the payment, and the customer's credit limit is monitored and adjusted as needed to ensure that payments are made on time. The customer can also set up payment plans with the vendor, allowing them to pay in installments over a period of time. 
  
  Tips & Tricks: 
  When using open credit commitment, it is important to keep track of your payments and ensure that they are made on time. It is also important to monitor your credit limit and adjust it as needed to ensure that you are able to make payments on time. Additionally, it is important to set up payment plans with the vendor in order to ensure that you are able to pay in installments over a period of time. 
  
  Related Information: 
  For more information about open credit commitment, please refer to the SAP FS-MCM Master Contract Management documentation. Additionally, you can contact your SAP representative for more information about how to use this feature.