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

SAP Term: contract type

• Component: SRD-SRM-SC

• Component Name: SRM-Sourcing and Contracting

• Description: The classification of agreements, such as purchasing contracts.

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• Key Concepts: 
  Contract type is a classification of contracts in SAP SRM-Sourcing and Contracting. It is used to define the type of contract, such as a purchase order, service agreement, or framework agreement. The contract type also determines the document structure and the available functions for the contract. 
  
  How to use it: 
  Contract types are created in the SAP SRM-Sourcing and Contracting system. They can be used to define the type of contract, such as a purchase order, service agreement, or framework agreement. The contract type also determines the document structure and the available functions for the contract. 
  
  Tips & Tricks: 
  When creating a contract type, it is important to consider the document structure and available functions that are needed for the contract. This will ensure that all necessary information is included in the contract and that all available functions are enabled. 
  
  Related Information: 
  For more information on creating and managing contract types in SAP SRM-Sourcing and Contracting, please refer to SAP Help documentation.