One reason the serial transfers used to fail - the USB to serial adaptor was crap. However your transfer doesn't appear to have even started.
I'll have a look at TeraTerm when I get home - I have a feeling there might be some other terminal setting to change.
I used serial/dialup for a year, but it was so long a ago I've forgotten how I solved such issues.
Actually it looks like /etc/oztivo.conf is missing, that is why it can't send it.
type cd /etc then ls -l or just ls to get a list of files in that folder. Is oztivo.conf listed?
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