How To Fix FVD_REPAY166 - This business operation is not permitted for product type &1

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_REPAY - Messages for Payoff

• Message number: 166

• Message text: This business operation is not permitted for product type &1

What causes this issue?

The business operation <ZK>Notice Given by the Lender</> is not
permitted for the product type for this loan according to the
<LS>Company Code-Dependent Settings for the Product Type</>.

System Response

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

How to fix this error?

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_REPAY166 - This business operation is not permitted for product type &1 ?

  The SAP error message FVD_REPAY166 indicates that a specific business operation is not permitted for the given product type in the context of financial services, particularly in the area of loan management or financial transactions. This error typically arises when trying to perform an operation (like repayment, modification, or cancellation) on a financial product that does not support that operation due to its configuration or status.
  Cause:
  
  Product Type Restrictions: The product type associated with the transaction may have specific restrictions that prevent certain operations. For example, some loan products may not allow early repayment or modifications after a certain period.
  Status of the Product: The current status of the financial product (e.g., closed, matured, or in a specific processing state) may not allow the requested operation.
  Configuration Issues: The configuration settings in the SAP system for the product type may not permit the operation being attempted.
  Authorization Issues: The user may not have the necessary permissions to perform the operation on that product type.
  
  Solution:
  
  Check Product Type Configuration: Review the configuration settings for the product type in the SAP system. Ensure that the operation you are trying to perform is allowed for that product type.
  Verify Product Status: Check the status of the financial product. If it is closed or in a state that does not allow the operation, you may need to take alternative actions or consult with a financial administrator.
  Consult Documentation: Refer to the SAP documentation or user manuals related to the specific product type to understand the allowed operations and any restrictions.
  User Authorization: Ensure that the user attempting the operation has the necessary authorizations. If not, contact your system administrator to grant the required permissions.
  Contact Support: If the issue persists and you cannot identify the cause, consider reaching out to SAP support or your internal IT support team for further assistance.
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP that pertain to financial product management, such as FVD1 (Create Financial Product) or FVD2 (Change Financial Product).
  SAP Notes: Check for any SAP Notes related to the error message or the specific product type that may provide additional insights or patches.
  Training and Documentation: Ensure that users are trained on the specific financial products and their operational constraints to minimize the occurrence of such errors.
  
  By following these steps, you should be able to diagnose and resolve the issue related to the FVD_REPAY166 error message in SAP.