Business Term Status
The Business Term is currently waiting approval by the Data Governance Committee.
Subdomain
🏢STRUCTURE FOR PURCHASING
Business Term Definition
Payment terms specify the time period in which a supplier requests payment and offers any discounts that they choose to make available for early payment. In the case of purchases with orders, payment terms are defined in vendor purchasing views i.e. at purchasing organization thus country and scope company level, (plant level is possible but not welcomed), they could be offset by payment terms defined at contract level following a more specific negotiation, they could be offset at purchase order level or at invoice level under procurement authority. In the case of purchases without orders, payment terms are defined in vendor company views i.e. at company level, they could be offset at invoice level under procurement authority.
Roles
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Data Sources, Type and Classification
SAP, WBP
Reference Data
Internal Data
Related Business Terms
| Business Term | Description | Link |
|---|---|---|
| Y Payment Terms (Shared) | Y Payment terms (or shared payment terms) were defined and implemented group-wide, to simplify their related list, to share common ones whatever the system used (PF1_020 or WP1_400 or WBP_400 or CONVERGENCE), to streamline processes by facilitating payables monitoring. | Y Payment Terms (Shared) |