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

SAP Term: contract document

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A file containing a specific contract. A contract is created from a standard template using clauses and sections from the clause library, then typically attached to an agreement.

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• Key Concepts: 
  A contract document is a legally binding agreement between two or more parties that outlines the terms and conditions of a particular transaction. In SAP LOD-ESO Sourcing OnDemand, contract documents are used to define the terms and conditions of a sourcing event, such as a request for quotation (RFQ) or an auction. 
  
  How to use it: 
  Contract documents in SAP LOD-ESO Sourcing OnDemand are created by the buyer and can be used to define the terms and conditions of a sourcing event. The buyer can specify the type of sourcing event, the duration of the event, the payment terms, and any other relevant information. The contract document is then sent to all participating suppliers for review and acceptance. 
  
  Tips & Tricks: 
  When creating a contract document in SAP LOD-ESO Sourcing OnDemand, it is important to ensure that all relevant information is included. This includes payment terms, delivery dates, and any other relevant information that may affect the outcome of the sourcing event. Additionally, it is important to ensure that all participating suppliers have accepted the contract document before proceeding with the sourcing event. 
  
  Related Information: 
  For more information on contract documents in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation available on the SAP Help Portal. Additionally, there are several online resources available that provide detailed tutorials on how to create and manage contract documents in SAP LOD-ESO Sourcing OnDemand.