What is customer agreement in SAP FS-PE - Payment Engine?

SAP Term: customer agreement

• Component: FS-PE

• Component Name: Payment Engine

• Description: An agreement with a customer of a financial institution that identifies the customer account or accounts relevant to the agreement.

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• Key Concepts: 
  A customer agreement in the FS-PE Payment Engine is a contract between a customer and a vendor that outlines the terms of payment for goods or services. It includes details such as payment amount, payment frequency, payment method, and any discounts or incentives that may be offered. The customer agreement is used to ensure that both parties are aware of the terms of the transaction and that all payments are made in a timely manner.
  
  How to use it: 
  The customer agreement is created in the FS-PE Payment Engine by entering the details of the transaction. This includes the payment amount, payment frequency, payment method, and any discounts or incentives that may be offered. Once all of the details have been entered, the customer agreement can be saved and used for future transactions.
  
  Tips & Tricks: 
  It is important to review the customer agreement before signing it to ensure that all of the details are correct and that both parties are in agreement with the terms of the transaction. Additionally, it is important to keep a copy of the customer agreement for your records in case there are any disputes or discrepancies in the future.
  
  Related Information: 
  The FS-PE Payment Engine also allows customers to view their past transactions and view their current balance. Additionally, customers can set up automatic payments so that payments are made on time without having to manually enter them each time.