What is forward confirmation in SAP IS-OIL-DS-TSW - Trader's and Scheduler's Workbench?

SAP Term: forward confirmation

• Component: IS-OIL-DS-TSW

• Component Name: Trader's and Scheduler's Workbench

• Description: Forward adjustment of the scheduled quantity of transport nominations as per the pipeline capacity.

Smart SAP Assistant

• Key Concepts: 
  Forward confirmation is a feature of the IS-OIL-DS-TSW Trader's and Scheduler's Workbench. It allows traders to confirm their trades with counterparties in advance of the actual trade taking place. This helps to ensure that both parties are in agreement on the terms of the trade before it is executed. 
  
  How to use it: 
  To use forward confirmation, traders must first create a trade in the IS-OIL-DS-TSW Trader's and Scheduler's Workbench. Once the trade is created, they can then send a forward confirmation to their counterparty. The counterparty will then have the option to accept or reject the forward confirmation. If accepted, the trade will be executed as agreed upon. 
  
  Tips & Tricks: 
  It is important to remember that forward confirmation does not guarantee that a trade will be executed. It simply serves as an agreement between two parties that they are in agreement on the terms of the trade before it is executed. It is also important to note that forward confirmation can only be used for trades that are created in the IS-OIL-DS-TSW Trader's and Scheduler's Workbench. 
  
  Related Information: 
  For more information on forward confirmation and other features of the IS-OIL-DS-TSW Trader's and Scheduler's Workbench, please refer to SAP's official documentation.