Enter a valid contract template for simulation scenario &1 (&2)

What causes this issue?

You want to use a contract template for the simulation. However, a
(suitable) contract template has not been defined in Customizing for
simulation scenario &v1&.

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?

Define a contract template for the simulation scenario &v1&.

Procedure for System Administrators

INCLUDE ISU_PENCIL OBJECT DOKU ID TX

Error message extract from SAP system. Copyright SAP SE.