What is long-term vendor declaration in SAP SD-FT - Foreign Trade?

SAP Term: long-term vendor declaration

• Component: SD-FT

• Component Name: Foreign Trade

• Description: Verification of the originating status of a product valid over an extended period. A vendor uses a vendor declaration to confirm that a product meets all the conditions in a preference agreement regarding the acquisition of originating status. The long-term vendor declaration is only valid if the products are delivered by the same vendor and the manufacturing conditions do not change.

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• Key Concepts: 
  Long-term vendor declaration is a feature of SAP's Foreign Trade (SD-FT) component. It allows vendors to declare their long-term business relationships with customers, which can be used to determine the origin of goods and services. This declaration is used to determine the applicable customs duties and taxes for international trade transactions. 
  
  How to use it: 
  In order to use the long-term vendor declaration feature, vendors must first register with the relevant customs authority. Once registered, vendors can then declare their long-term business relationships with customers in SAP. This declaration is then used by the customs authority to determine the applicable customs duties and taxes for international trade transactions. 
  
  Tips & Tricks: 
  It is important to ensure that all declarations are accurate and up-to-date in order to avoid any potential issues with customs authorities. Additionally, it is important to ensure that all relevant documents are submitted in a timely manner in order to avoid any delays in processing. 
  
  Related Information: 
  For more information on SAP's Foreign Trade (SD-FT) component, please refer to the official SAP documentation. Additionally, there are a number of online resources available which provide further information on long-term vendor declarations and other related topics.