SAP Message R1205 - Business partner &1 does not exist in role &2

Diagnosis
The business partner you selected, &V1&, does not exist in role &V2&.

System Response
Error message

Procedure
If you want to create business partner &V1& in role &V2&, choose the'Create Business Partner' function.

188071Payment medium run termination (message R1205)
767532BUAG_MAIN: Error R1205