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XML is certainly suitable for representing this sort of business document. Note that XML itself does not provide any eCommerce facilities - rather it serves as a lingua franca on which eCommerce interchanges can be expressed in an open systems fashion.
I would suggest taking a look at the eCommerce related XML activities
hosted by Oasis - www.oasis-open.org and in particular ebXML.
This was first published in January 2002

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