How To Fix FVD_BO071 - No contract statuses defined for product type &1 in company code &2

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_BO - General Messages for Business Operations

• Message number: 071

• Message text: No contract statuses defined for product type &1 in company code &2

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_BO071 - No contract statuses defined for product type &1 in company code &2 ?

  The SAP error message FVD_BO071 indicates that there are no contract statuses defined for a specific product type in a given company code. This error typically arises in the context of contract management or financial services modules within SAP, particularly when dealing with financial contracts or agreements.
  Cause:
  The error occurs due to the following reasons:
  
  Missing Configuration: The product type specified in the error message does not have any associated contract statuses defined in the system for the specified company code.
  Incorrect Product Type: The product type being referenced may not be valid or may not have been set up correctly in the system.
  Company Code Issues: The company code specified may not have the necessary configurations or may not be linked to the product type.
  
  Solution:
  To resolve the error, you can take the following steps:
  
  
  Check Configuration:
  
  Go to the configuration settings for contract management in SAP.
  Navigate to the relevant area where contract statuses are defined (usually under Financial Services or Contract Management).
  Ensure that the contract statuses for the specified product type are defined for the company code in question.
  
  
  
  Define Contract Statuses:
  
  If no statuses are defined, you will need to create them. This typically involves:
  
  Accessing the configuration transaction (e.g., SPRO).
  Navigating to the section for defining contract statuses.
  Adding the necessary statuses for the specified product type and company code.
  
  
  
  
  
  Validate Product Type:
  
  Ensure that the product type being used is correct and is intended for the operations you are performing.
  Check if the product type is active and properly configured in the system.
  
  
  
  Check Company Code Settings:
  
  Verify that the company code is correctly set up and linked to the product type.
  Ensure that all necessary configurations for the company code are complete.
  
  
  
  Consult Documentation:
  
  Review SAP documentation or help resources related to contract management and product types for additional guidance.
  
  
  
  Testing:
  
  After making the necessary changes, test the process again to ensure that the error no longer occurs.
  
  
  
  Related Information:
  
  Transaction Codes: You may need to use transaction codes like SPRO (for configuration), SE11 (for data dictionary), or SE80 (for development) to access the relevant settings.
  SAP Notes: Check SAP Notes for any known issues or patches related to this error message.
  User Roles: Ensure that you have the necessary authorizations to make changes to the configuration settings.
  
  If the issue persists after following these steps, it may be beneficial to consult with your SAP support team or a functional consultant who specializes in the relevant module.