What does it mean when I receive an error in my email for the (Re) Enrollment Contract?

What does it mean when I receive an error in my email for the (Re) Enrollment Contract?
This email is being generated because your email address is in the Email on Error field in the (Re) Enrollment Contract Application Setup.  The application sends you an email every time there is an error when generating an invoice for a student.

Example: “Student Name (#####) cannot insert the value NULL into column ‘payment_term_id' table ‘xxxx'; column does not allow nulls.  INSERT fails.”

    - The ‘Student Name' is the student that the error pertains to.
    - The (#####) is the student's id.
    - The error message tells you why the invoice was not created.  In this example, the invoice was not created because the was no (Re) Enrollment Contract Control Option selected specifying a payment term.
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