How To Fix FIQA_LOC612 - Payment for &1 exceeds 97% of contract; vendor is liable for retention

FIQA_LOC612 - Overview

• Message type: E = Error

• Message class: FIQA_LOC - FI Localization for Qatar

• Message number: 612

• Message text: Payment for &1 exceeds 97% of contract; vendor is liable for retention

Self-Explanatory Message

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FIQA_LOC612 - Details

• The SAP error message FIQA_LOC612 indicates that a payment for a specific contract exceeds 97% of the total contract value, and as a result, the vendor is liable for retention. This is typically related to the management of contracts in the SAP system, particularly in the context of construction or service contracts where retention amounts are common.
  
  Cause:
  
  Contract Terms: The contract may have specific terms that stipulate that a certain percentage of the payment must be retained until the completion of the contract or until certain conditions are met.
  Payment Processing: The payment being processed exceeds the allowable limit (97% in this case) set by the contract terms.
  Retention Policy: The system is enforcing a retention policy that requires a portion of the payment to be withheld to ensure that the vendor completes the work satisfactorily.
  
  
  Solution:
  
  Review Contract Terms: Check the contract associated with the payment to understand the retention requirements. Ensure that the