SAP Message VK027 - Agreement type &1 with category &2 already exists

Diagnosis
You attempted to create agreement type &V1& with agreement categoryV3. agreement type v1 already exists. it is an agreement type withagreement category &V2&.

System Response
Since all agreement types have to be unique independent from theagreement category, you cannot add agreement type &V1&.

Procedure
Select a different agreement type.