ISO/IEC 19845:2015 specifies the OASIS Universal Business Language (UBL), which defines a generic XML interchange format for business documents that can be restricted or extended to meet the requirements of particular industries. Specifically, UBL provides the following:
- A suite of structured business objects and their associated semantics expressed as reusable data components and common business documents.
- A library of XML schemas for reusable data components such as "Address", "Item", and "Payment", the common data elements of everyday business documents.
- A set of XML schemas for common business documents such as "Order", "Despatch Advice", and "Invoice" that are constructed from the UBL library components and can be used in generic procurement and transportation contexts.
A standard is reviewed every 5 years
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