CIF: Business Partner Type does not exist

I am transferring vendor from ECC to SCM both as vendor and partner. While activating the integration model I get an error saying that <Business Partner Type does not exist, choose either 1 or 2 or 3>. Has anyone come across this error and solved it?

Dear Tibor,
These setting are maintained in system. Still it gives error.
Followings are the entries in system:
TB039A
CLIENT TYPE   CATEGORY XPROPOSE XPERSON XORGANISATION XGROUP TEXT                                                                  
750    BUP001 BUP001                    X                    Dun & Bradstreet Number
750    BUP002 BUP002                    X                    Commercial Register Number
750    BUP003 BUP003                    X             X      Register of Associations Number
750    BUP004 BUP004                    X             X      Public Register of Cooperatives Number
750    BUP005 BUP005                    X                    Global Location Number
750    BUP006 BUP006                    X                    Standard Carrier Alpha Code
750    CRM001 CRM001            X       X             X      External System Identifier
750    CRM002 CRM002            X       X                    R/3 Customer Number
750    CRM003 CRM003            X       X                    External System Identifier for ICM
750    CRM004 CRM004            X       X                    R/3 Vendor Number
750    CRM010 CRM010                    X                    R/3 Sales Organization
750    CRM011 CRM011                    X                    R/3 Plant Number
750    CRM012 CRM012                    X                    R/3 MRP Area
750    FS0001 FS0001            X                            Identity card
750    FS0002 FS0002            X                            Passport
750    SLLIAT SLLIAT                    X                    IATA Code Airline Carriers
750    SLLSCA SLLSCA                    X                    SCAC Code (Standard Carrier Code)
ID Types
BUP001     Dun & Bradstreet Number
BUP002     Commercial Register Number
BUP003     Register of Associations Number
BUP004     Public Register of Cooperatives Number
BUP005     Global Location Number
BUP006     Standard Carrier Alpha Code
CRM001     External System Identifier
CRM002     R/3 Customer Number
CRM003     External System Identifier for ICM
CRM004     R/3 Vendor Number
CRM010     R/3 Sales Organization
CRM011     R/3 Plant Number
CRM012     R/3 MRP Area
FS0001     Identity card
FS0002     Passport
SLLIAT     IATA Code Airline Carriers
SLLSCA     SCAC Code (Standard Carrier Code)
Identification Categories
BUP001     Dun & Bradstreet Number
BUP002     Commercial Register Number
BUP003     Register of Associations Number
BUP004     Public Register of Cooperatives Number
BUP005     Global Location Number
BUP006     Standard Carrier Alpha Code
CRM001     External System Identifier
CRM002     R/3 Customer Number
CRM003     External System Identifier for ICM
CRM004     R/3 Vendor Number
CRM010     R/3 Sales Organization
CRM011     R/3 Plant Number
CRM012     R/3 MRP Area
SLLIAT     Airline Carrier IATA Code
SLLSCA     SCAC Code (Standard Carrier Code)
Thanks and Best Regards, Manoj

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