Inco terms

Commonly-used trading terms that comply with the standards established by the International
Chamber of Commerce (ICC).Incoterms specify certain internationally recognised procedures
that the shipper and the receiving party must follow for the shipping transaction to be
successfully completed.

Partner Roles

In addition to the purchasing data, we can maintain the partner roles (also be referred as partner
functions) in the vendor master record .Partner roles are business partners that take on certain
functions in the procurement process for a vendor, for e.g. if the supplying vendor is different from
the vendor to be paid on behalf of the supplier, the invoicing party can be maintained as the partner
role for the vendor so that when the invoice is posted with reference to the PO of the
corresponding material supplied vendor this invoicing partner will be determined.