Full service trade system

Details Full service trade system Full service trade system

1998-02-09

2000-11-21

Voeltz, Emanuel Todd

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

705 35, 705 39, G06F 1760

Patent

active

061515884

ABSTRACT:
A system stores criteria specified by a funder relating to trade transactions for buyers and sellers. The system compares the criteria with a proposed purchase order to determine whether the system can generate a payment guarantee on behalf of the funder for the buyer to the seller. The system also compares subsequent documents relating to an original purchase order with the original purchase order to ensure that the terms of the purchase order are properly fulfilled. When the appropriate conditions for payment are met, the system issues a funds transfer instruction to transfer payment from the buyer to the seller.

REFERENCES:
patent: 3573747 (1971-04-01), Adams
patent: 4017101 (1977-04-01), Case
patent: 4270042 (1981-05-01), Case
patent: 4903201 (1990-02-01), Wagner
patent: 4947028 (1990-08-01), Gorog
patent: 5694551 (1997-12-01), Doyle et al.

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