What is extended payment terms in SAP SAP-LEGAL - Global Field Legal?

SAP Term: extended payment terms

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: The terms of payment in the Extended Payment Addendum applicable to the Extended Payments.

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• Key Concepts: 
  Extended payment terms are a feature of SAP-LEGAL Global Field Legal that allows customers to pay for goods and services over a longer period of time than the standard payment terms. This feature can be used to provide customers with more flexibility in their payment options, allowing them to spread out payments over a longer period of time.
  
  How to use it: 
  To use extended payment terms, customers must first contact their SAP-LEGAL Global Field Legal representative. The representative will then provide the customer with the necessary information and instructions on how to set up extended payment terms. Once the customer has completed the setup process, they will be able to make payments over a longer period of time than the standard payment terms.
  
  Tips & Tricks: 
  When setting up extended payment terms, it is important to ensure that all parties involved are aware of the terms and conditions of the agreement. Additionally, it is important to keep track of payments made and ensure that all payments are made on time in order to avoid any potential penalties or fees.
  
  Related Information: 
  For more information on extended payment terms, please refer to SAP-LEGAL Global Field Legal’s website or contact your local representative. Additionally, you can find more information about other features of SAP-LEGAL Global Field Legal on their website.