What is clause in SAP FS-PM - Policy Management?

SAP Term: clause

• Component: FS-PM

• Component Name: Policy Management

• Description: A supplementary agreement in an insurance contract that describes, extends, or restricts the insurance coverage of an insurance product.

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• Key Concepts: 
  A clause is a set of conditions that must be met in order for a policy to be applied. It is used in SAP FS-PM Policy Management to define the conditions under which a policy should be applied. Clauses are used to define the scope of a policy, such as the type of customer, the type of product, or the amount of money involved.
  
  How to use it: 
  In SAP FS-PM Policy Management, clauses are used to define the conditions under which a policy should be applied. To create a clause, you must first define the conditions that must be met for the policy to be applied. This includes specifying the type of customer, product, or amount of money involved. Once these conditions have been defined, you can then create a clause that contains these conditions.
  
  Tips & Tricks: 
  When creating clauses in SAP FS-PM Policy Management, it is important to ensure that all conditions are clearly defined and that they are mutually exclusive. This will help ensure that the policy is applied correctly and that no unintended consequences occur. Additionally, it is important to review and test clauses regularly to ensure that they are still valid and up-to-date.
  
  Related Information: 
  SAP FS-PM Policy Management provides a comprehensive set of tools for creating and managing policies. It also provides features such as rule sets and decision tables which can be used to further refine policies and clauses. Additionally, SAP FS-PM Policy Management provides an audit trail which can be used to track changes made to policies and clauses over time.