on 08-28-2007 7:01 AM
Dear Experts,
Please explan what is Liquidated Damage (LD) and how it would be determined in SAP
Hi,
Liquidated damage is the damages recoverable by a customer in the event of delay of completion of a project/order placed.
Let us take an example:
A vendor has promised to deliver a customer a certain amount of goods by a particular date and is not able to meet the same. Liquidated damage is chargeable against funds due to the vendor for each day the vendor fails to complete the project beyond the contract completion date.
It can be used in milestone billing also. Used in services/construction/lareg projects which are done in phases.
Hope it helps.
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.
User | Count |
---|---|
89 | |
7 | |
6 | |
3 | |
3 | |
3 | |
3 | |
3 | |
3 | |
2 |
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.