What is deferred payment in SAP SLL - Global Trade Services?

SAP Term: deferred payment

• Component: SLL

• Component Name: Global Trade Services

• Description: The payment of a customs tariff at a later date than the date it is due. Customs duties must be paid within a set time period. For large amounts ,it is possible to arrange for payments in small amounts over a period ofweeks or months, in Europe, up to the 16th of the following month.

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• Key Concepts: 
  Deferred payment is a payment method in SAP Global Trade Services (GTS) that allows customers to pay for goods or services at a later date. This payment method is often used when customers are unable to pay for goods or services upfront. It is also used when customers need more time to make payments due to cash flow issues. 
  
  How to use it: 
  In order to use deferred payment, customers must first set up a deferred payment agreement with the supplier. This agreement outlines the terms of the payment, such as the amount of the payment, the due date, and any other conditions that must be met in order for the payment to be made. Once the agreement is in place, customers can then make payments according to the terms of the agreement. 
  
  Tips & Tricks: 
  When setting up a deferred payment agreement, it is important to ensure that all terms are clearly outlined and agreed upon by both parties. This will help ensure that payments are made on time and that any disputes can be resolved quickly and efficiently. 
  
  Related Information: 
  SAP GTS also offers other payment methods such as open account and letter of credit. For more information on these payment methods, please refer to SAP’s documentation on Global Trade Services.