How To Fix TAN_TCC1051 - Derivative contract specification status must not be 'In Preparation'

SAP Error Message - Details

• Message type: E = Error

• Message class: TAN_TCC1 - Commodity Curve Message Class

• Message number: 051

• Message text: Derivative contract specification status must not be 'In Preparation'

Self-Explanatory Message

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Smart SAP Assistant

• What is the cause and solution for SAP error message TAN_TCC1051 - Derivative contract specification status must not be 'In Preparation' ?

  The SAP error message TAN_TCC1051 indicates that there is an issue with the status of a derivative contract specification in the system. Specifically, the error states that the status of the derivative contract specification must not be 'In Preparation' when you are trying to perform a certain action, such as posting or processing the contract.
  Cause:
  The error typically arises when:
  
  You are attempting to execute a transaction or process that requires the derivative contract specification to be in a finalized state, but it is still in the 'In Preparation' status.
  The contract has not been fully defined or completed, meaning that required fields or configurations are missing.
  There may be a workflow or approval process that has not been completed, preventing the contract from moving to a finalized status.
  
  Solution:
  To resolve the TAN_TCC1051 error, you can take the following steps:
  
  
  Check Contract Status: Verify the status of the derivative contract specification. If it is indeed 'In Preparation', you will need to complete the necessary steps to finalize it.
  
  
  Complete Required Fields: Ensure that all mandatory fields in the contract specification are filled out. This may include details such as pricing, terms, and conditions.
  
  
  Review Workflow: If your organization uses a workflow for contract approvals, check to see if the contract is pending approval. Complete any required approvals to move the contract to a finalized status.
  
  
  Save Changes: If you have made changes to the contract, ensure that you save those changes properly. Sometimes, unsaved changes can keep the contract in a preparatory state.
  
  
  Consult Documentation: Refer to your organization's SAP documentation or user manuals for specific instructions related to your version of SAP and the derivative contract module.
  
  
  Contact Support: If you are unable to resolve the issue, consider reaching out to your SAP support team or consulting with an SAP expert who can provide guidance based on your specific configuration and setup.
  
  
  Related Information:
  
  SAP Modules: This error is typically related to the SAP Treasury and Risk Management module, specifically dealing with derivatives and financial instruments.
  Transaction Codes: Familiarize yourself with relevant transaction codes that may be used to manage derivative contracts, such as transaction codes for creating, editing, or approving contracts.
  User Roles: Ensure that you have the appropriate user roles and permissions to make changes to derivative contracts in SAP.
  
  By following these steps, you should be able to address the TAN_TCC1051 error and successfully process your derivative contract specification.