EDI 521: Income or Asset Offset

This X12 Transaction Set contains the format and establishes the data contents of the Income or Asset Offset Transaction Set (521) for use within the context of an Electronic Data Interchange (EDI) environment. This bi-directional transaction set can be created by an agency or entity to require an employer or asset holder to withhold and deliver assets or income on behalf of a person or entity to whom they are owed, as in a levy, lien, or garnishment. It can also be used to confirm or modify a prior notification. This transaction set can also be used by the employer or third party to report the ability to comply with the requirement and the terms of that compliance and may be used to initiate an electronic funds transfer in order to satisfy the requirement.

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ASPECTS OF SALES ORDERS IMPROVED BY EDI ACCURACY - 97% PRODUCTIVITY - 92% RESPONSE/CYCLE TIMES - 81% SALES ACROSS COMPANY BORDERS - 75% ABILITY TO TRACK/TRACE GOODS - 67%	ASPECTS OF PURCHASE ORDERS IMPROVED BY EDI ACCURACY - 91% PRODUCTIVITY - 77% RESPONSE/CYCLE TIMES - 74% SALES ACROSS COMPANY BORDERS - 65% ABILITY TO TRACK/TRACE GOODS - 74%
* Supply Chain Insights, LLC; B2B Study, June-September 2013. Survey of Manufacturers, Retailers, Distributors & others currently using EDI.

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