What is contract expiration in SAP SRD-SRM-SC - SRM-Sourcing and Contracting?

SAP Term: contract expiration

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: The end of the validity period of a binding agreement between two or more business partners, such as a buyer and a supplier.

Smart SAP Assistant

• Key Concepts: 
  Contract expiration is a term used in SAP SRM-Sourcing and Contracting to refer to the date when a contract between two parties ends. This date is set when the contract is created and can be changed at any time. The expiration date is important because it determines when the contract will no longer be valid and when the parties involved must take action to renew or terminate the contract.
  
  How to use it: 
  In SAP SRM-Sourcing and Contracting, the expiration date of a contract can be set when the contract is created. This date can be changed at any time by either party involved in the contract. The expiration date is important because it determines when the contract will no longer be valid and when the parties involved must take action to renew or terminate the contract.
  
  Tips & Tricks: 
  It is important to keep track of the expiration date of contracts in SAP SRM-Sourcing and Contracting. This will ensure that both parties are aware of when the contract will end and can take action to renew or terminate it accordingly. It is also important to remember that the expiration date can be changed at any time by either party involved in the contract.
  
  Related Information: 
  For more information on SAP SRM-Sourcing and Contracting, please refer to SAP's official documentation on their website. Additionally, there are many online resources available that provide tutorials and tips on how to use SAP SRM-Sourcing and Contracting effectively.