"cannot import wsdl:binding" error when trying to add silverlight service

"cannot import wsdl:binding" error when trying to add silverlight service

I am receiving this error when attempting to add a new web service to silverlight 4. I have opened the client in the Data access object layer and have the business logic in place to call the service. The error output shown is relating to a windows batch file run which is supposed to generate the files necessary to call the new web service. I have looked everywhere for a solution and i have tried changing the service reference type to a generic list and unchecked the "reuse types in generic assemblies" as instructed from another solution ( checkbox located by right clicking the service reference instance in the solution explorer and selecting service reference settings in VS 2010.) The error:cannot import wsdl:binding and error: cannot import wsdl:porttype keep showing up. Any input woulb be greatly appreciated.

Attempting to download metadata from 'http://localhost:64903/Services/ServiceWcfS.svc' using WS-Metadata Exchange or DISCO.

Error: Cannot import wsdl:portType
Detail: An exception was thrown while running a WSDL import extension:
System.ServiceModel.Description.DataContractSerializerMessageContractImporter Error: ISerializable type with data contract name 'PropertyChangedEventHandler' in namespace 'http://schemas.datacontract.org/2004/07/System.ComponentModel' cannot be imported. The data contract namespace cannot be customized for ISerializable types and the generated namespace 'AccessPoint.WcfServices.ServiceWcfS' does not match the required CLR namespace 'System.ComponentModel'. Check if the required namespace has been mapped to a different data contract namespace and consider mapping it explicitly using the namespaces collection.
XPath to Error Source: //wsdl:definitions[@targetNamespace='http://tempuri.org']/wsdl:portType[@name='IServiceWcfS']

Error: Cannot import wsdl:binding
Detail: There was an error importing a wsdl:portType that the wsdl:binding is dependent on.
XPath to wsdl:portType: //wsdl:definitions[@targetNamespace='http://tempuri.org']/wsdl:portType[@name='IServiceWcfS']
XPath to Error Source: //wsdl:definitions[@targetNamespace='http://tempuri.org']/wsdl:binding[@name='BasicHttpBinding_IServiceWcfS']

Error: Cannot import wsdl:port
Detail: There was an error importing a wsdl:binding that the wsdl:port is dependent on.
XPath to wsdl:binding: //wsdl:definitions[@targetNamespace='http://tempuri.org']/wsdl:binding[@name='BasicHttpBinding_IServiceWcfS']
XPath to Error Source: //wsdl:definitions[@targetNamespace='http://tempuri.org']/wsdl:service[@name='ServiceWcfS']/wsdl:port[@name='BasicHttpBinding_IServiceWcfS']

Error: No endpoints compatible with Silverlight 4 were found. The generated client class will not be usable unless endpoint information is provided via the constructor.

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