[jQuery] ajax form docs

[jQuery] ajax form docs

This is the documentation!
$.ajax({
url: "mydomain.com/url",
type: "POST",
data: $.param( $("#form").formdata()),
complete: myAjaxDone,
success: myAjaxSuccess,
error: myAjaxError
});
However I can't find an explenation for this line.
data: $.param( $("#form").formdata())
What is "param" and what is "formdata"
Is want to do something similar however javascript complains it does not know what formdata is!
How can I submit a form then via ajax?
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