What is legal contract in SAP SRM-EBP-CON - Contract Management?

SAP Term: legal contract

• Component: SRM-EBP-CON

• Component Name: Contract Management

• Description: A legally binding document agreed between a purchaser and a supplier. A legal contract defines the purchase and supply of goods or services at agreed prices and conditions. The legal contract can include the quantity and value of purchase orders, limit confirmations, and invoices that are released against the contract. A legal contract contains a combination of structured information attributes and line item tables and unstructured information legal texts or clauses.

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• Key Concepts: 
  A legal contract in SAP is a legally binding agreement between two or more parties. It is used to define the terms and conditions of a business relationship, such as the purchase of goods or services. The SAP SRM-EBP-CON Contract Management component is used to manage the creation, maintenance, and monitoring of legal contracts. 
  
  How to use it: 
  The SRM-EBP-CON Contract Management component allows users to create and manage contracts in SAP. It provides a central repository for all contracts and allows users to easily search for and access them. It also provides tools for tracking contract performance, such as expiration dates, payment terms, and other important information. 
  
  Tips & Tricks: 
  When creating a contract in SAP, it is important to ensure that all relevant information is included. This includes the parties involved, the terms of the agreement, and any other relevant details. Additionally, it is important to review the contract regularly to ensure that all parties are adhering to the terms of the agreement. 
  
  Related Information: 
  For more information on SAP SRM-EBP-CON Contract Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this component effectively.