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Is there any reason why we have to unchcek this box if it was created with it checked?  I could not find any system limitations if it stays checked. 

Hi,

It is to indicate that the supplier was created using a quick path, and might need some more information. Once all information is entered/updated it is expected to be cleared.

If this checkbox is not interpreted as half-baked information in your company, I think there is no harm in leaving it.

Thanks