What is commission contract type in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: commission contract type

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Allows you to distinguish between two different commission contracts. Possible commission contract types in an insurance context are: Senior agent Junior agent Broker Field-force employee

Smart SAP Assistant

• Key Concepts: 
  A commission contract type is a type of contract used in SAP ICM Incentive and Commission Management. It is used to define the rules and parameters for calculating commissions for sales representatives. It includes information such as the commission rate, payment terms, and other conditions that must be met in order for a commission to be paid. 
  
  How to use it: 
  In order to use a commission contract type, it must first be created in the ICM system. This can be done by entering the necessary information such as the commission rate, payment terms, and other conditions. Once the contract type is created, it can then be assigned to sales representatives in order to calculate their commissions. 
  
  Tips & Tricks: 
  When creating a commission contract type, it is important to ensure that all of the necessary information is entered correctly. This will ensure that the correct commissions are calculated for each sales representative. Additionally, it is important to review the contract type periodically to ensure that it is up-to-date with any changes in the market or company policies. 
  
  Related Information: 
  For more information on SAP ICM Incentive and Commission Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/ICM/1.0/en-US.