What is contract business object in SAP FS-PM - Policy Management?

SAP Term: contract business object

• Component: FS-PM

• Component Name: Policy Management

• Description: Primarily documents the fact that a sales product, and the more detailed products that it contains, has been purchased by a partner in the policyholder role. The contract object is structured hierarchically in various contract element levels. The most important contract element levels are: Policy Contract Coverage bundle Coverage The change is realized by business transactions in application processing. Application processing produces the necessary transparency and traceability for the processing steps, using application journals, for online processes and for periodic processing for the in-force business.

Smart SAP Assistant

• Key Concepts: 
  Contract business objects are a type of object used in the SAP FS-PM Policy Management component. They are used to store and manage contractual information, such as customer agreements, service contracts, and other contractual documents. The contract business object is used to store all relevant information related to a contract, including the terms and conditions, pricing, and other details. 
  
  How to use it: 
  The contract business object can be used to create and manage contracts in the SAP FS-PM Policy Management component. It allows users to store all relevant information related to a contract, including the terms and conditions, pricing, and other details. The contract business object also allows users to track changes in the contract over time. 
  
  Tips & Tricks: 
  When creating a contract business object, it is important to ensure that all relevant information is included. This includes the terms and conditions, pricing, and other details. Additionally, it is important to keep track of any changes that are made to the contract over time. 
  
  Related Information: 
  For more information on the contract business object in SAP FS-PM Policy Management, please refer to the SAP Help Portal (https://help.sap.com/viewer/product/FS-PM/). Additionally, there are several online resources available that provide more detailed information on how to use the contract business object in SAP FS-PM Policy Management.