What is master agreement in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: master agreement

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: An SAP data record containing all key contract data, including the legal contract document, capturing all contract details. This record enables the contract professional to create, negotiate, search and manage all enterprise buy-side contracts.

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• Key Concepts: 
  A master agreement is a contract between two parties that outlines the terms and conditions of a business relationship. It is used in SAP LOD-ESO Sourcing OnDemand to define the terms and conditions of a sourcing event, such as the duration of the agreement, payment terms, and any other relevant details. 
  
  How to use it: 
  In SAP LOD-ESO Sourcing OnDemand, a master agreement can be created by selecting the “Create Master Agreement” option from the main menu. This will open a form where you can enter all the relevant details of the agreement. Once you have completed the form, you can submit it for approval. 
  
  Tips & Tricks: 
  When creating a master agreement in SAP LOD-ESO Sourcing OnDemand, it is important to ensure that all relevant details are included in the agreement. This includes payment terms, delivery dates, and any other relevant information that may be necessary for the agreement to be valid. 
  
  Related Information: 
  For more information on creating master agreements in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation available on the SAP website.