What is 'installment' in SAP FS-RI - Reinsurance?

installment - Overview

• Component: FS-RI

• Component Name: Reinsurance

• Description: A part of an installment schedule.

installment - Details

• 
  Key Concepts: 
  Installment is a feature in the FS-RI Reinsurance component of SAP that allows for the payment of reinsurance premiums in multiple installments. This feature allows for the payment of premiums over a period of time, rather than all at once. 
  
  How to use it: 
  To use the installment feature, first create a reinsurance contract in the FS-RI Reinsurance component. Then, when setting up the contract, select the “Installment” option. This will allow you to specify the number of installments and the payment schedule. 
  
  Tips & Tricks: 
  When setting up an installment plan, make sure to specify a payment schedule that works for both parties involved. It is also important to keep track of payments and ensure that all installments are paid on time. 
  
  Related Information: 
  For more information on using the installment feature in FS-RI Reinsurance, please refer to SAP’s documentation on the topic.