What is 'material relevant for preference' in SAP SLL - Global Trade Services?

material relevant for preference - Overview

• Component: SLL

• Component Name: Global Trade Services

• Description: A material authorized to receive preferential duty treatment. An example is a reduction or exemption of duties on imported goods.

material relevant for preference - Details

• 
  Key Concepts: 
  Material relevant for preference is a feature of SAP’s Global Trade Services (GTS) that allows companies to identify and track materials that are eligible for preferential treatment under free trade agreements. This feature helps companies to take advantage of preferential tariffs and other benefits when trading with countries that have free trade agreements in place. 
  
  How to use it: 
  In order to use the material relevant for preference feature, companies must first identify the materials that are eligible for preferential treatment. This can be done by consulting the applicable free trade agreement or by using the GTS software to search for materials that are eligible. Once the materials have been identified, they can be added to the GTS system and tracked accordingly. 
  
  Tips & Tricks: 
  It is important to ensure that all materials that are eligible for preferential treatment are correctly identified and tracked in the GTS system. This will help to ensure that companies are taking full advantage of any available benefits when trading with countries that have free trade agreements in place. 
  
  Related Information: 
  For more information on material relevant for preference, please refer to SAP’s Global Trade Services documentation or contact your local SAP representative.