What is guarantee agreement in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: guarantee agreement

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management A contractual element of the commission contract. A non-performance-related remuneration that is granted for a specific period of time. The guarantee agreement contains the following information: - Validity period - Guarantee remuneration type - Guarantee amount

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• Key Concepts: 
  A guarantee agreement is a type of contract used in SAP ICM Incentive and Commission Management (ICM). It is used to ensure that a certain amount of money is paid out to a salesperson or other commission recipient. The agreement specifies the amount of money that must be paid out, as well as any conditions or restrictions that must be met in order for the payment to be made.
  
  How to use it: 
  In order to use a guarantee agreement, the user must first create the agreement in SAP ICM. This can be done by entering the details of the agreement, such as the amount of money to be paid out and any conditions or restrictions that must be met. Once the agreement has been created, it can then be used to ensure that the specified amount of money is paid out when the conditions or restrictions are met.
  
  Tips & Tricks: 
  When creating a guarantee agreement, it is important to ensure that all of the details are accurate and up-to-date. This will help to ensure that the payment is made correctly and on time. Additionally, it is important to review the agreement periodically to make sure that it still meets the needs of the business.
  
  Related Information: 
  SAP ICM also offers other types of contracts, such as incentive agreements and commission agreements. These contracts can be used in conjunction with guarantee agreements in order to provide additional flexibility and control over payments. Additionally, SAP ICM also offers reporting and analytics tools that can be used to track and analyze payments made under guarantee agreements.