Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Insurance
Reexamination Certificate
2005-03-22
2005-03-22
Smith, Jeffrey A. (Department: 3625)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Insurance
C705S037000, C705S026640, C705S400000
Reexamination Certificate
active
06871181
ABSTRACT:
A method and system for providing a standardization and commoditizing the process of technology contracts and creating method for assessing, scoring, ranking and rating technology vendors for the purpose of comparing vendor bids on a project and for structuring and pricing insurance/surety contracts. Intrinsic and two-way vendor ratings are established for each of the vendors in a particular project. This two-way rating is used to provide a risk adjustment to the nominal bid of each of the vendors. The two-way rating is also utilized to structure and calculate an insurance premium based upon the probability that the vendor would fail/default on the delivery of a technology project.
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Fadok Mark
Hoffman Wasson & Gitler, P.C.
Smith Jeffrey A.
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