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New Payment Term defined under External Billing cycle is throwing error

Our client uses "External" billing cycle and our payment terms are defined with Billing cycle as 'External'. We defined a new payment term BFB EOM (end of month) under External Billing cycle. When we try to use this new payment term 'BFB EOM" in Transaction entry screen manually the system throws an error 'ORA- 01803 No Data Found'. We can see 'BFB EOM' in the Payment Terms list of values but unable to select it and get the error message. Any ideas why this error keeps coming? Appreciate your replies.

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