What is purchasing-side trading contract in SAP (LO-GT - Global Trade Management)?

SAP Term: purchasing-side trading contract

• Component: LO-GT

• Component Name: Global Trade Management

• Description:

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• Key Concepts: 
  A purchasing-side trading contract is a type of agreement between a buyer and a seller that outlines the terms and conditions of a purchase. It is used in SAP's Global Trade Management (LO-GT) component to manage the import and export of goods. The contract includes details such as the price, delivery date, payment terms, and other relevant information. 
  
  How to use it: 
  The purchasing-side trading contract is created in the LO-GT component of SAP. The buyer and seller must agree on the terms of the contract before it can be finalized. Once the contract is created, it can be used to manage the import and export of goods. The contract can also be used to track payments, monitor delivery dates, and ensure compliance with international trade regulations. 
  
  Tips & Tricks: 
  When creating a purchasing-side trading contract in SAP, it is important to ensure that all relevant information is included. This includes details such as the price, delivery date, payment terms, and any other relevant information. It is also important to ensure that all parties involved are in agreement with the terms of the contract before it is finalized. 
  
  Related Information: 
  The purchasing-side trading contract is part of SAP's Global Trade Management (LO-GT) component. This component helps companies manage their international trade activities by providing tools for tracking payments, monitoring delivery dates, and ensuring compliance with international trade regulations. Additionally, LO-GT provides tools for managing customs documents and other related paperwork.