What is contract package in SAP FS-PM - Policy Management?

SAP Term: contract package

• Component: FS-PM

• Component Name: Policy Management

• Description: A grouping of contracts within a policy. You can define a contract package in the New Business business process if you have already defined a product package.

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• Key Concepts: 
  A contract package is a collection of contracts that are grouped together in SAP FS-PM Policy Management. It is used to manage the contracts of a customer or organization in an efficient and organized manner. The contract package can contain multiple contracts, such as insurance policies, loan agreements, and other types of contracts. 
  
  How to use it: 
  Contract packages can be created in SAP FS-PM Policy Management by selecting the “Create Contract Package” option from the menu. Once the contract package is created, contracts can be added to it by selecting the “Add Contract” option from the menu. The contracts can then be managed and monitored within the contract package. 
  
  Tips & Tricks: 
  It is important to keep track of all contracts within a contract package. This can be done by setting up reminders for each contract in the package. This will ensure that all contracts are kept up-to-date and that any changes or updates are made in a timely manner. 
  
  Related Information: 
  For more information on SAP FS-PM Policy Management and how to use contract packages, please refer to the SAP Help Portal or contact your local SAP representative.