What is contract category in SAP RE - Real Estate Management?

SAP Term: contract category

• Component: RE

• Component Name: Real Estate Management

• Description: An element used to categorize general contracts. By assigning contract categories to contract types, you can determine if vendor or customer business processes or both are represented in the general contract.

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• Key Concepts: 
  Contract category is a feature of SAP Real Estate Management (RE) that allows users to classify contracts according to their type. This classification helps users to easily identify and manage contracts, as well as to analyze and report on them. Contract categories can be used to group contracts by type, such as rental, purchase, or lease agreements. 
  
  How to use it: 
  Contract categories can be created in the RE system by entering the category name and description. Once created, the contract category can be assigned to a contract when it is created or edited. This allows users to quickly identify and manage contracts according to their type. 
  
  Tips & Tricks: 
  When creating contract categories, it is important to consider how they will be used in the future. For example, if a company is planning to expand its operations in the future, it may be beneficial to create categories that are flexible enough to accommodate new types of contracts. 
  
  Related Information: 
  For more information on contract categories in SAP RE, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SAP_RE/latest/en-US/f8d7f9a2b3e14c8a9f3d7c6b2e5f9a1d.html