Definitions for "Transaction Set"
Keywords:  edi, invoice, trailer, header, syntax
A set of standards for EDI information flows developed by the ANSI X12 committee to facilitate the electronic communication between trading partners.
(USA) The transaction set unambiguously defines, in the standard syntax, information of business or strategic significance. It consists of a transaction set header segment, one or more data segments in a specified order, and a transaction set trailer segment. (International) Known as a message in EDIFACT. It is the electronic equivalent of a business document or business form.
The name given to a complete trading document sent via electronic data interchange. Examples of mortgage-related documents which might be transmitted via EDI include loan applica-tions, credit reports and appraisals.