Question

EDI is paperless trading method. True or false ​

Answer 1

EDI

Explanation:

The following statement is True because the following trading method exchanges must also be carried out using completely electronic communications defined as EDI, include UN / EDIFACT, XML, JSON and other online facilities.

System-based transmission through regular company records including sales requests, payslips, stock rates as well as delivery notifications.

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Answer 2

It is True, that international trading across the borders globally has initiated  the process of digitization of flow of information through the exchange of trade-related data  that makes the data available between the relevant parties through transfer of documents electronically

Explanation:

• International trading of goods and services globally across the international borders requires information and data to be sent to the various suppliers , sellers and buyers. The paperless trading method refers to electronic exchange of information.
• The exchange of trade-related data  and documents electronically has enabled the flow of information needed for the purpose of  international trading.
• The process entail electronic form of trading between  business-to-government (B2G) and  between  business-to-business (B2B) electronic exchange  of information that i needed for international trading

To know more about exchange of trade-related data  

What do you mean by foreign trade exchange ? Mention two competitors of foreign trade exchange.

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