What is contract clause in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: contract clause

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The lowest-level building block of a contract document. A clause is usually a paragraph and contains legal text for a contract. The text of each clause is saved as a Microsoft Word document. Clauses can contain variables that apply information from a sourcing document, such as an RFx, to the contract document. Multiple clauses make up a contract section.

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• Key Concepts: 
  Contract clause is a feature of SAP LOD-ESO Sourcing OnDemand that allows users to create and manage contractual terms and conditions. It enables users to define the terms and conditions of a contract, such as payment terms, delivery terms, and other contractual obligations. The contract clause feature also allows users to track the status of the contract and view any changes that have been made. 
  
  How to use it: 
  To use the contract clause feature in SAP LOD-ESO Sourcing OnDemand, users must first create a contract. Once the contract is created, users can add clauses to the contract by selecting the “Add Clause” option from the menu. This will open a window where users can enter the details of the clause, such as the type of clause, description, and any other relevant information. Once all of the details have been entered, users can save the clause and it will be added to the contract. 
  
  Tips & Tricks: 
  When creating a contract clause in SAP LOD-ESO Sourcing OnDemand, it is important to ensure that all of the details are accurate and up-to-date. This will help ensure that all parties involved in the contract are aware of their obligations and that any changes made to the contract are properly documented. Additionally, it is important to review all clauses before signing off on a contract to ensure that all parties are in agreement with its terms. 
  
  Related Information: 
  For more information on using the contract clause feature in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation provided by SAP. Additionally, there are many online resources available that provide helpful tips and tricks for using this feature.