What is 'order effective date' in SAP SAP-LEGAL - Global Field Legal?

order effective date - Overview

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: The date on which the order comes into force.

order effective date - Details

• 
  Key Concepts: 
  Order effective date is a field in the SAP-LEGAL Global Field Legal component that stores the date on which an order becomes legally binding. This date is used to determine when the order should be fulfilled and when payment should be made. 
  
  How to use it: 
  The order effective date is used to track when an order becomes legally binding. This date is typically set when the order is created, but can be changed if necessary. The order effective date should be updated whenever changes are made to the order, such as adding or removing items, changing prices, or changing delivery dates. 
  
  Tips & Tricks: 
  It is important to keep the order effective date up-to-date in order to ensure that orders are fulfilled and payments are made on time. It is also important to ensure that the order effective date is set correctly when creating a new order, as this will ensure that all parties involved are aware of when the order becomes legally binding. 
  
  Related Information: 
  The order effective date is closely related to other fields in the SAP-LEGAL Global Field Legal component, such as the delivery date and payment terms. It is important to understand how these fields interact in order to ensure that orders are fulfilled and payments are made on time.