Transactive State is not adequately explained in the wd 17 document. I suggest some minor wording changes and potential editing.

I suggest the following language:

EMIX TERMS describe product, quantity, price, location for a sequence one or more intervals:

Indication of Interest is a non-binding offer or request for offer for a transaction described by EMIX TERMS that may or may not indicate price and quantity and other terms.
A Tender is a binding offer or bid for a Transaction described by EMIX TERMS by a party that when accepted by a counter party will resulting in a binding Transaction. ISOs use bids to describe offers and bids into their markets.
A Transaction for a transaction described by EMIX TERMS between two parties is binding.
Exercise applies to Transactions such as Ancillary Services Dispatch by ISOs, Call and Put Options and DR event dispatch that have a second step to that results in another transactions.
Transport Commitment is what the ISOs call "Transmission Scheduling" which is a Transport product and not an energy product transaction. Since the distribution grid may require such transactions or schedules in the future we use the term "Transport"
Delivery ( Production or Usage) is the act of actually generating and consuming power that is measured by meters and reported for settlement to the parties.

We have an ongoing discussion on better names for this last term.

I suggest the descriptions of Transactive State on lines 364 and 336 be the same and revised as follows:

Used as an aid in parsing and conformance testing, e.g. to distinguish between, indications of interest, tenders, transactions, exercise of optionality, transport commitment, and delivery.

I suggest changing Transport Commitment to Transport Scheduling to better align with grid scheduling language.

We may want to add another transactive state "Publication" where when appropriate prices for products and other information would be published using EMIX TERMX. These price publication are not Tenders or Indications of Interest.

An EiEvent that uses EMIX TERMS to communicate price quantity and other information for a DR event could use the Exercise Transactive State.

Indication of Interest Indication of Interest is a non-binding offer or request for offer for a transaction that may or may not indicate price and quantity and other terms..
Tender A Tender is a binding offer or bid for a Transaction by a party that when accepted by a counter party will resulting in a binding Transaction. ISOs use the term Bids to describe offers and bids into their markets.
Bid EMIX uses the more general term Tender, and Bid is not one of the enumerated Transactive States.
Transaction A Transaction between two parties is a binding agreement
Exercise Exercise applies to two-part Transactions such as Ancillary Services Dispatch by ISOs, Call and Put Options and DR event dispatch that have an initial agreement that includes a second step to that results in another Transaction.
Transport Commitment Transport Commitment is what the ISOs call "Transmission Scheduling" which is a Transport product and not an energy product transaction. Since the distribution grid may require such transactions or schedules in the future we use the term "Transport"
Delivery Delivery, which includes both Production and Usage, is the act of actually generating and consuming power that is measured by meters and reported for settlement to the parties. Delivery also names the enumeration of the Delivery.
Price Publication Price Publication is the act of general announcement or posting of appropriate prices and other information concerning products. Price Publications are not Tenders or Indications of Interest.

Various other changes to allign document language
Submitted proposal on use of Exercise to EI TC