What is termination date in SAP SAP-LEGAL - Global Field Legal?

SAP Term: termination date

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: The effective date of a valid termination; or, the expiration of the Term for Managed Services as specified in the applicable Order Form if such Term has not been renewed or extended by contractual provision or mutual agreement of the parties.

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• Key Concepts: 
  Termination date is a field in the SAP-LEGAL Global Field Legal component that stores the date when a contract or agreement ends. It is used to track the end of a contract or agreement and can be used to determine when certain obligations or rights end. 
  
  How to use it: 
  The termination date field can be used to track the end of a contract or agreement. It can be used to determine when certain obligations or rights end, such as payment terms, delivery terms, and other contractual obligations. The termination date can also be used to calculate the duration of a contract or agreement. 
  
  Tips & Tricks: 
  When entering the termination date, make sure to enter it in the correct format (e.g. DD/MM/YYYY). This will ensure that the date is correctly stored and can be used for calculations. 
  
  Related Information: 
  The termination date field is related to other fields in the SAP-LEGAL Global Field Legal component, such as start date, duration, and renewal date. These fields can be used together to track the start and end of contracts or agreements.