| Overview of terms and conditions |  |
| If you use functionalities such as vendor managed inventory (VMI), subcontracting, and allocations in your company, multiple terms and conditions are involved between business partners. The Terms and Conditions module allows you to set up terms and conditions agreements, which hold all terms and conditions that are applicable in a particular situation between business partners. For example, in a terms and conditions agreement, you can register the terms and conditions regarding the financial ownership of goods for a specific functionality. The following types of terms and conditions agreements are available: Purchase A purchase agreement must be linked to a purchase contract before you can use it. Sales A sales agreement must be linked to a sales contract before you can use it. Internal An internal agreement must be linked to an enterprise unit relationship before you can use it. To define terms and conditions, refer to To set up terms and conditions. Terms and conditions templates In a terms and conditions agreement, lots of data can be entered. To facilitate data entry, you can store default data in a terms and conditions template. A template is a default terms and conditions agreement, representing a business process, that has no business partner linked to it. The level of detail of the template data is user-definable. Based on this template, you can quickly generate new terms and conditions agreements for business partners. Terms and conditions templates also allow you to do the following: Update multiple existing terms and conditions agreements derived from a specific template simultaneously. Validate whether the generated terms and conditions agreements meet the business process represented by the template. For more information, refer to Terms and conditions templates. Terms and conditions retrieval If you use terms and conditions, an extensive search mechanism is used to retrieve the correct terms and conditions regarding the sale, purchase, or transfer of specific goods. For more information, refer to To retrieve terms and conditions. Related topics To set up terms and conditions Terms and conditions templates To retrieve terms and conditions Vendor managed inventory Overview of subcontracting |