EDI Transaction Set
EDI 561: Contract Abstract
EDI 561 is the X12 Contract Abstract transaction set, used within Electronic Data Interchange (EDI). This transaction set can be used to abstract a new contract, abstract a change in terms of a previously abstracted contract, or to correct a previously transmitted abstract. This bi-directional transaction set includes the information necessary to administer a contract, including modifications and corrections to that contract, and provides an acknowledgment mechanism to enable management of the contract administration process.
What the 561 transaction set covers
Contract Abstract This X12 Transaction Set contains the format and establishes the data contents of the Contract Abstract Transaction Set (561) for use within the context of an Electronic Data Interchange (EDI) environment. This transaction set can be used to abstract a new contract, abstract a change in terms of a previously abstracted contract, or to correct a previously transmitted abstract. This bi-directional transaction set includes the information necessary to administer a contract, including modifications and corrections to that contract, and provides an acknowledgment mechanism to enable management of the contract administration process. This transaction set is typically used internally within a business entity as a post-award management report, when the purchasing and contract administration functions are separated within that entity.
How Interlink handles the 561
Interlink Commerce maps, transmits, and monitors the 561 for you as part of fully managed EDI — connected straight to your ERP or systems, certified against your retailer’s requirements, and billed only when you trade. Most suppliers go live within 30 days.