Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2007-04-03
2007-04-03
Pond, Robert M. (Department: 3625)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S026640, C705S027200
Reexamination Certificate
active
10693724
ABSTRACT:
A system and method for providing warranties that financially guarantee one or more facts associated with an electronic transaction. In a preferred embodiment, warranties issued to the present system comprise a contract between a first party and a second party in which the first party: (1) warrants one or more warranted facts (2) for damages up to a warranted amount (3) if claimed by a relying customer within a claim period. The warranty is preferably issued by a participant in response to a request received from a customer that specifies a desired warranted amount and claim period. The participant and root entity evaluate the request in light of a plurality of factors and determine whether or not the warranty should be issued. In a preferred embodiment, the warranty comprises a contract between the buyer and its issuing participant. The seller is preferably a third-party beneficiary of this contract.
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Ahmed Khaja E.
Boyd Jeffrey F.
Cerra Peter
Goldstein Deborah
Miller Lawrence R.
IdenTrust, Inc.
Pond Robert M.
Sonnenschein Nath & Rosenthal LLP
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