What is perpetual term in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: perpetual term

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A type of master agreement with no expiration date.

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• Key Concepts: 
  Perpetual term is a feature of SAP LOD-ESO Sourcing OnDemand that allows users to create and manage long-term contracts with suppliers. This feature enables users to negotiate and manage contracts that have no expiration date, allowing them to maintain a consistent relationship with their suppliers. 
  
  How to use it: 
  To use the perpetual term feature, users must first create a contract in the system. Once the contract is created, users can select the “perpetual term” option when setting up the contract. This will enable them to set up a contract that has no expiration date. 
  
  Tips & Tricks: 
  When setting up a perpetual term contract, it is important to ensure that all of the terms and conditions are clearly defined in the contract. This will help ensure that both parties are aware of their obligations and responsibilities under the agreement. Additionally, it is important to review the contract periodically to ensure that it is still valid and up-to-date. 
  
  Related Information: 
  For more information on how to use the perpetual term feature in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation provided by SAP. Additionally, there are several online resources available that provide helpful tips and tricks for using this feature.