What is No Price Established in SAP LO-AGR-CC - Commodity Contracts, Expenses, Basic Functions?

SAP Term: No Price Established

• Component: LO-AGR-CC

• Component Name: Commodity Contracts, Expenses, Basic Functions

• Description: A status indicating that neither the futures component nor the basis component of a commodity price is established. For goods that do not have a componentized pricing, the price is not established.

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• Key Concepts: 
  No Price Established is a term used in the LO-AGR-CC Commodity Contracts, Expenses, Basic Functions component of SAP. It is used to indicate that no price has been established for a particular item or service. This could be due to a variety of reasons, such as the item or service not being available in the market, or the supplier not providing a price. 
  
  How to use it: 
  When creating a purchase order in SAP, users can select “No Price Established” if they do not have a price for the item or service they are purchasing. This will allow them to proceed with the purchase order without having to enter a price. 
  
  Tips & Tricks: 
  It is important to note that selecting “No Price Established” does not mean that the item or service is free. The user will still need to enter a price when it becomes available. Additionally, it is important to ensure that all necessary information is entered into the purchase order before selecting “No Price Established”, as this cannot be changed once the purchase order has been created. 
  
  Related Information: 
  For more information on No Price Established and other terms used in SAP, please refer to the SAP Help Portal (https://help.sap.com/).