What is title transfer in transit in SAP LO-AGR-CC - Commodity Contracts, Expenses, Basic Functions?

SAP Term: title transfer in transit

• Component: LO-AGR-CC

• Component Name: Commodity Contracts, Expenses, Basic Functions

• Description: A scenario where the transfer of ownership to the customer occurs in transit; this can occur when the buyer is using a virtual plant to transact trades or in a commercial scenario where title transfers at the ship’s rail, but the buyer has title while the goods are still in transit to the ship’s rail that is, a multi-modal move.

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• Key Concepts: 
  Title transfer in transit is a process in SAP LO-AGR-CC Commodity Contracts, Expenses, Basic Functions that allows for the transfer of ownership of goods from one party to another while the goods are in transit. This process is used when goods are shipped from one location to another and the ownership of the goods needs to be transferred from the seller to the buyer. 
  
  How to use it: 
  In order to use title transfer in transit, the seller must first create a delivery document for the goods being shipped. The delivery document will include information about the goods being shipped, such as quantity, weight, and destination. Once the delivery document is created, the seller will then create a title transfer document that will transfer ownership of the goods from the seller to the buyer. The title transfer document will include information about the buyer and seller, as well as details about the goods being shipped. 
  
  Tips & Tricks: 
  When creating a title transfer document, it is important to ensure that all of the information is accurate and up-to-date. This includes information about both the buyer and seller, as well as details about the goods being shipped. Additionally, it is important to ensure that all parties involved in the transaction are aware of and agree to the terms of the title transfer document. 
  
  Related Information: 
  Title transfer in transit is an important process for businesses that ship goods from one location to another. It is important for businesses to understand how this process works in order to ensure that all parties involved in a transaction are aware of and agree to its terms. Additionally, businesses should be aware of any laws or regulations that may apply when using title transfer in transit.