What is legal relationship in SAP FS-RI - Reinsurance?

SAP Term: legal relationship

• Component: FS-RI

• Component Name: Reinsurance

• Description: Relationship or agreement between two parties that represents the contractual or legal basis of cash flows such as an insurance contract, a claim or a guarantee agreement. A legal relationship is represented by the legal relationship number and type in Contract Accounts Receivable and Payable.

Smart SAP Assistant

• Key Concepts: 
  Legal relationship is a term used in the FS-RI Reinsurance component of SAP. It is used to describe the contractual relationship between two parties, such as an insurer and a reinsurer. This relationship is based on a contract that outlines the terms and conditions of the agreement between the two parties. 
  
  How to use it: 
  In SAP, legal relationships are used to define the contractual relationship between two parties. This includes details such as the type of contract, the duration of the contract, and any other relevant information. The legal relationship is then used to determine how transactions are processed in SAP. 
  
  Tips & Tricks: 
  When creating a legal relationship in SAP, it is important to ensure that all relevant information is included. This includes details such as the type of contract, the duration of the contract, and any other relevant information. Additionally, it is important to ensure that all parties involved in the legal relationship are aware of their obligations and responsibilities under the contract. 
  
  Related Information: 
  For more information on legal relationships in SAP, please refer to the official SAP documentation on FS-RI Reinsurance. Additionally, there are many online resources available that provide detailed information on how to create and manage legal relationships in SAP.