How To Fix FVD_MODEL043 - Minimum permitted term of &1 months is not reached

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_MODEL - Model Calculation for Consumer Loan

• Message number: 043

• Message text: Minimum permitted term of &1 months is not reached

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_MODEL043 - Minimum permitted term of &1 months is not reached ?

  The SAP error message FVD_MODEL043 indicates that a financial product or contract does not meet the minimum term requirement specified in the system. This error typically arises in the context of financial services, particularly when dealing with loans, leases, or other financial models where a minimum duration is mandated.
  Cause:
  The error occurs when the term (duration) of a financial product is set to a value that is less than the minimum permitted term defined in the system. The message specifies that the minimum term is &1 months, where &1 is a placeholder for the actual minimum term value.
  Solution:
  To resolve this error, you can take the following steps:
  
  
  Check Minimum Term Configuration:
  
  Review the configuration settings for the financial product in question. This can typically be found in the customizing settings of the SAP system under the relevant financial services module (e.g., SAP FS-CD, FS-BA, etc.).
  Ensure that the minimum term requirement is correctly defined and that you understand the business rules associated with it.
  
  
  
  Adjust the Term of the Product:
  
  If the term you are trying to set is indeed less than the minimum required, you will need to adjust the term to meet or exceed the minimum requirement.
  For example, if the minimum term is 12 months, you should set the term to at least 12 months or more.
  
  
  
  Consult Documentation:
  
  Refer to the SAP documentation or user manuals related to the specific financial product you are working with. This can provide insights into the expected configurations and requirements.
  
  
  
  Contact Support:
  
  If you are unsure about the configuration or if the error persists after making adjustments, consider reaching out to your SAP support team or consulting with an SAP expert who specializes in financial services.
  
  
  
  Related Information:
  
  Transaction Codes: Depending on your SAP version, you may need to use specific transaction codes to access the configuration settings or to create/update financial products.
  Customizing Settings: The relevant customizing settings can usually be found under the path: SPRO -> Financial Services -> [Relevant Module] -> Product Configuration.
  Testing: After making changes, ensure to test the configuration in a development or quality assurance environment before moving to production.
  
  By following these steps, you should be able to resolve the FVD_MODEL043 error and ensure that your financial product meets the necessary requirements.