What is placement order in SAP (FS-RI - Reinsurance)?

SAP Term: placement order

• Component: FS-RI

• Component Name: Reinsurance

• Description: An order from a cedent to a reinsurance broker to place a reinsurance treaty or a facultative single risk or shares thereof on the reinsurance market in order to obtain the reinsurer's acceptance.

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• Key Concepts: 
  A placement order is a document used in the FS-RI Reinsurance component of SAP to record the details of a reinsurance contract. It contains information such as the type of contract, the reinsurer, the ceding company, and the terms of the contract. 
  
  How to use it: 
  In SAP, a placement order is created in the FS-RI Reinsurance component. The user must enter all relevant information about the reinsurance contract, such as the type of contract, the reinsurer, and the ceding company. Once all information is entered, the placement order can be saved and used for future reference. 
  
  Tips & Tricks: 
  When creating a placement order in SAP, it is important to ensure that all relevant information is entered accurately. This will help to ensure that the placement order is accurate and up-to-date. Additionally, it is important to save a copy of the placement order for future reference. 
  
  Related Information: 
  For more information on placement orders in SAP FS-RI Reinsurance, please refer to SAP Help documentation or contact your local SAP support team.