What is blanket agreement in SAP SBO - SAP Business One?

SAP Term: blanket agreement

• Component: SBO

• Component Name: SAP Business One

• Description: A longer-term arrangement between a purchasing organization and a vendor, or a sales organization and a customer, for the supply of items or provision of services over a period of time based on predefined terms and conditions.

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• Key Concepts: 
  A blanket agreement is a type of contract in SAP Business One (SBO) that allows customers to purchase goods or services from a vendor at predetermined prices and terms. It is a long-term agreement between two parties that outlines the terms of the purchase, such as the quantity, price, and delivery date. The agreement can be used for multiple orders over a period of time, and it can be used to streamline the ordering process. 
  
  How to use it: 
  In SBO, blanket agreements are created in the Purchasing module. The user will enter the vendor information, the item details, and the terms of the agreement. Once the agreement is created, it can be used for multiple orders. When creating an order, the user will select the blanket agreement from a list of available agreements. This will automatically populate the order with the details from the agreement. 
  
  Tips & Tricks: 
  When creating a blanket agreement in SBO, it is important to review all of the details carefully before saving it. This will ensure that all of the information is accurate and up-to-date. Additionally, it is important to review any changes to the agreement before submitting an order. This will help to ensure that all orders are accurate and compliant with the terms of the agreement. 
  
  Related Information: 
  For more information on blanket agreements in SBO, please refer to SAP’s official documentation here: https://help.sap.com/viewer/product/SAP_BUSINESS_ONE/9.3/en-US/f8d7f2b7a6c14e8a9f3d5b2c9f1e4d6a.html