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Subject: Re: Tags and semantics ( was Dotted Names)

Hi Bob,

   What I would regard as a business transaction involves the following:

   1.  Seller
   2.  Buyer
   3. Something Sold ( lets call it Goods/Services)
   4. Payment

When the Seller owns the payment and the Buyer owns the Goods/Services then
the 'Transaction' is complete. From a physical and legal point of view.

Now there are many things which can be assoxciated with the Goods and

e.g. Payment method e.g Letter of credit, Open Account, Credit card, Debit
card, cash etc.

      and with the Goods - Means of Transport, Customs, Packing etc.

  Some of these 'activities' may result in an accounting entry - but take
the packing of the Goods and the associated data  which in it's paper form
is a Packing List - this data is essential to international trade but is
unlikely to provoke an accounting entry. Many companies look on the packing
as an overhead - in the management accounting sense. Thus the cost is not
hypothecated to a particular 'transaction'.

The packing list will be used by the Ocean carrier, the Freight Fowarder,
and the Customs Authority. It may be required by the Bank to allow the
release of funds against a Documentary Credit - but not only the P/L will be
needed but also the Bill of lading and the Commercial Invoice.

So I don't believe that International trade can be modelled as a series of
accounting entries and I am not sure how one would identify the individual
'business transactions' as defined by ebXML.

Is it not fair to say that the whole 'trade chain' constitues the
Transaction which may be broken  down into a number of business activities ?

Cheers, Phil
----- Original Message -----
From: "Bob Haugen" <linkage@interaccess.com>
To: <ebxml-core@lists.ebxml.org>
Sent: Wednesday, April 18, 2001 2:01 PM
Subject: RE: Tags and semantics ( was Dotted Names)

> Philip Goatly:
> >   You are right the emphasis is too much on technology, and not on
> >business.
> I agree.
> >  The fact that some members are calling a message exchange a 'business
> >transaction' says it all.
> Actually, it doesn't say it all.  I agree that the name could mislead,
> but the concept is very important from a business rather than
> technical viewpoint.
> It is not just message exchange, but message exchanges within
> a protocol to give a reasonable assurance of legally-binding agreement
> on contract formation and other legal and accounting events (confirmed
> receipts and payments, etc.)
> -Bob Haugen
> ------------------------------------------------------------------
> To unsubscribe from this elist send a message with the single word
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