What is legal right to future commission in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: legal right to future commission

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management A right to remuneration to be paid out in the future on the basis of a condition which has yet to be fulfilled. &EXAMPLE& In insurance, commission is paid out over several years. The commission is only disbursed to the customer if he or she pays the agreed amounts to the insurance company within the agreed time period.

Smart SAP Assistant

• Key Concepts: 
  Legal right to future commission is a feature of SAP ICM Incentive and Commission Management (ICM). It allows companies to define and manage legal rights to future commissions for sales representatives. This feature helps companies to ensure that their sales representatives are compensated for their efforts in a timely and accurate manner. 
  
  How to use it: 
  To use the legal right to future commission feature, companies must first define the legal rights for each sales representative. This includes defining the terms of the agreement, such as the duration of the agreement, the amount of commission to be paid, and any other conditions that must be met. Once the legal rights have been defined, companies can then manage them using SAP ICM. This includes tracking payments, calculating commissions, and ensuring that all payments are made in a timely manner. 
  
  Tips & Tricks: 
  When setting up legal rights for sales representatives, it is important to ensure that all terms are clearly defined and agreed upon by both parties. This will help to avoid any misunderstandings or disputes in the future. Additionally, it is important to ensure that all payments are tracked accurately and that all commissions are paid in a timely manner. 
  
  Related Information: 
  SAP ICM Incentive and Commission Management (ICM) is a comprehensive solution for managing sales incentives and commissions. It provides companies with features such as automated commission calculations, payment tracking, and reporting capabilities. Additionally, it offers features such as legal right to future commission which helps companies ensure that their sales representatives are compensated for their efforts in a timely and accurate manner.