How To Fix FVD_REPAY155 - Notice is within the rescission period

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_REPAY - Messages for Payoff

• Message number: 155

• Message text: Notice is within the rescission period

What causes this issue?

Notice has been given within the rescission period for the loan.

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

Check whether a rescission could be processed here instead.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_REPAY155 - Notice is within the rescission period ?

  The SAP error message FVD_REPAY155 with the notice "Notice is within the rescission period" typically occurs in the context of financial transactions, particularly in the area of loan management or contract management within SAP's Financial Services module. This error indicates that a notice related to a financial transaction (like a loan repayment or contract termination) is being processed during a period where the transaction can still be rescinded or canceled.
  Cause:
  
  Rescission Period: The rescission period is a defined timeframe during which a borrower or customer can cancel or rescind a financial agreement without penalty. If an action is attempted during this period, the system will prevent it to protect the rights of the customer.
  Transaction Timing: The timing of the transaction or notice may fall within this rescission period, which is typically set based on regulatory requirements or business rules.
  
  Solution:
  
  Check Rescission Period: Review the details of the transaction to confirm if it is indeed within the rescission period. This can usually be found in the contract or loan details.
  Wait for the Period to End: If the transaction is valid and the rescission period is still active, you may need to wait until the period expires before proceeding with the action.
  Adjust the Transaction: If the transaction needs to be processed immediately, consider whether it can be adjusted or if there are alternative actions that can be taken that do not violate the rescission period.
  Consult Documentation: Review the relevant SAP documentation or configuration settings related to the rescission period to understand how it is defined and managed in your system.
  Contact Support: If you are unsure about how to proceed or if the error seems incorrect, it may be beneficial to contact your SAP support team or consult with a financial services expert within your organization.
  
  Related Information:
  
  Configuration Settings: The rescission period is often configurable in SAP, so understanding how it is set up in your specific instance can provide insights into why the error is occurring.
  Legal and Compliance Considerations: The rescission period may be influenced by legal requirements, so ensure that your organization is compliant with relevant laws and regulations.
  User Training: Ensure that users involved in processing these transactions are trained on the implications of the rescission period and how to handle related errors.
  
  By following these steps, you should be able to address the FVD_REPAY155 error effectively.