What is contract award notice in SAP PSM-GPR - Procurement for Public Sector?

SAP Term: contract award notice

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: Term used by various public sector online publishing systems for a synopsis issued to announce details of a contract awarded following an RFx.

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• Key Concepts: 
  A Contract Award Notice (CAN) is a document issued by a public sector organization to inform suppliers that their bid has been accepted and that they have been awarded a contract. It is part of the Public Sector Management (PSM-GPR) Procurement process. The CAN includes the details of the contract, such as the terms and conditions, the duration of the contract, and the price. 
  
  How to use it: 
  The CAN is used to inform suppliers that their bid has been accepted and that they have been awarded a contract. It is also used to provide suppliers with the details of the contract, such as the terms and conditions, the duration of the contract, and the price. 
  
  Tips & Tricks: 
  When issuing a CAN, it is important to ensure that all relevant information is included in the document. This includes the terms and conditions of the contract, as well as any other relevant information such as payment terms or delivery dates. 
  
  Related Information: 
  The CAN is part of the PSM-GPR Procurement process. Other documents related to this process include Request for Proposals (RFPs), Invitations to Tender (ITTs), and Contract Performance Reports (CPRs).