How To Fix FVD_CLI_CLOAN089 - Rescission period was exceeded; release mandatory

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_CLI_CLOAN - Credit Life Insurance for Consumer Loan

• Message number: 089

• Message text: Rescission period was exceeded; release mandatory

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_CLI_CLOAN089 - Rescission period was exceeded; release mandatory ?

  The SAP error message FVD_CLI_CLOAN089 indicates that a rescission period has been exceeded, and as a result, a release is mandatory. This error typically occurs in the context of financial transactions, particularly in loan management or contract management within the SAP system.
  Cause:
  
  Rescission Period Exceeded: The rescission period is a defined timeframe during which a borrower can cancel a loan or contract without penalty. If this period has passed, the system will not allow further modifications or cancellations without a mandatory release.
  Configuration Settings: The settings for the rescission period may not be correctly configured in the system, leading to premature triggering of this error.
  Transaction Type: The specific transaction type being processed may have rules that enforce this restriction.
  
  Solution:
  
  Check Rescission Period: Verify the rescission period defined for the loan or contract in question. Ensure that it aligns with business requirements and legal regulations.
  Release Process: If the rescission period has indeed been exceeded, you will need to follow the appropriate release process. This may involve:
  
  Obtaining necessary approvals.
  Completing any required documentation.
  Executing a release transaction in the SAP system.
  
  
  Configuration Review: Review the configuration settings related to the rescission period in the SAP system. This may involve checking the relevant customizing settings in the Financial Services (FS) module or the specific loan management settings.
  Consult Documentation: Refer to SAP documentation or help resources for specific guidance on handling this error message and the associated processes.
  Contact Support: If the issue persists or if you are unsure about the steps to take, consider reaching out to your SAP support team or consulting with an SAP expert.
  
  Related Information:
  
  SAP Notes: Check for any relevant SAP Notes that may address this specific error or provide additional context.
  Transaction Codes: Familiarize yourself with transaction codes related to loan management and rescission processes, such as those for creating, modifying, or releasing loans.
  User Roles: Ensure that the user attempting to perform the action has the necessary permissions to execute the release process.
  
  By following these steps, you should be able to address the error message FVD_CLI_CLOAN089 effectively.