iSupplier Registration Error - POS_REG_UNEXPECTED_ERR

In iSupplier portal, I have tried to register the Supplier User using Supplier Profile Administrator and faced the below error,

We're sorry, but the service you requrested is not available at this time. Please take down the following error message and contact your system administrator: POS_REG_UNEXPECTED_ERR0_11_1_4
I was very confused by the above error, did metalink search. Got 6-7 hits.
and finally the below set up has resolved the error.

'HZ: Generate Party number' to Yes at the responsibility level has resolved the error.