Error when using Automation FTP Upload option: "Method/property not valid for SFTP" (4223080)

The following error occurs when using Automation FTP Upload option:

"EnterpriseDT.Net.Ftp.Ssl.SSLFTPException
Method/property not valid for SFTP
Stack Trace:
at EnterpriseDT.Net.Ftp.SecureFTPConnection.CheckFTPType(Boolean ftpOnly)
at EnterpriseDT.Net.Ftp.FTPConnection.GetSystemType()
at EnterpriseDT.Net.Ftp.ExFTPConnection.GetSystemType()
at Quest.Toad.Workflow.Activities.FtpOperationForm.FtpOperationForm_Load(Object sender, EventArgs e)..."

WORKAROUND:
None

Issue scheduled to be fixed in Toad 3.0 release.