Trading TermsShort-form bill of lading (B/L) Collecting bank After date Immediate or Cancel (IOC) Order Spot rate Revolving credit
Electronic Data Interchange (EDI)
Electronic Data Interchange (EDI) is the process of electronically exchanging business documents between trading partners. This includes documents such as purchase orders, invoices, and booking instructions. EDI follows a standardized format, such as EDIFACT, to ensure seamless communication between systems. As technology continues to advance, EDI has become an essential tool for businesses to streamline their operations and improve efficiency. By eliminating the need for manual data entry and paper-based processes, EDI allows for faster and more accurate communication, ultimately leading to cost savings and improved productivity.
Related terms
Understand the meaning and definition of Short-form bill of lading (B/L) in the context of stock market, trading, and investments.
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MOREUnderstand the meaning and definition of After date in the context of stock market, trading, and investments.
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