System and method for trade payment exchange
First Claim
Patent Images
1. A method for order fulfillment, comprising:
- a server for a financial institution comprising at least one computer processor receiving an electronic purchase order corresponding to a trade transaction from a buyer system over a communications network;
the server for the financial institution automatically generating an open account or a letter of credit based on the purchase order;
the server for the financial institution electronically sending the open account or the letter of credit to a vendor system over the communication network;
the server for the financial institution receiving at least one of an invoice and shipping documents from the vendor system;
the server for the financial institution generating a unique identifier comprising a machine-readable code for the electronic purchase order and associating the unique identifier with the invoice and/or shipping documents;
the server for the financial institution providing the unique identifier to the vendor system for physical attachment to the invoice and/or shipping document;
the server for the financial institution storing the unique identifier and the invoice and/or shipping documents in a searchable database;
the server for the financial institution posting the unique identifier and the shipping documents on a network;
the server for the financial institution interfacing with a third party tracking system to receive tracking information for a good associated with the trade transaction based on a GPS location of the good;
the server for the financial institution, in cooperation with an insurance module, facilitating insurance for the good based on the GPS location of the good;
the server for the financial institution making the tracking information available to the buyer system and the vendor system on the network; and
the server for the financial institution automatically triggering payment to the vendor system based on a predetermined occurrence identified by the tracking information.
3 Assignments
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Accused Products
Abstract
A system and method for exchanging information and documents related to the processing of trade transactions is provided. The method comprises associating at least one unique identifier with at least one shipping document; and posting the at least one unique identifier and the least one shipping document on a first communications network. A system for exchanging information and documents related to the processing of trade transactions is also provided. The system comprises means for associating at least one unique identifier with at least one shipping document; and means for posting the at least one unique identifier and the at least one shipping document on a network for viewing.
226 Citations
3 Claims
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1. A method for order fulfillment, comprising:
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a server for a financial institution comprising at least one computer processor receiving an electronic purchase order corresponding to a trade transaction from a buyer system over a communications network; the server for the financial institution automatically generating an open account or a letter of credit based on the purchase order; the server for the financial institution electronically sending the open account or the letter of credit to a vendor system over the communication network; the server for the financial institution receiving at least one of an invoice and shipping documents from the vendor system; the server for the financial institution generating a unique identifier comprising a machine-readable code for the electronic purchase order and associating the unique identifier with the invoice and/or shipping documents; the server for the financial institution providing the unique identifier to the vendor system for physical attachment to the invoice and/or shipping document; the server for the financial institution storing the unique identifier and the invoice and/or shipping documents in a searchable database; the server for the financial institution posting the unique identifier and the shipping documents on a network; the server for the financial institution interfacing with a third party tracking system to receive tracking information for a good associated with the trade transaction based on a GPS location of the good; the server for the financial institution, in cooperation with an insurance module, facilitating insurance for the good based on the GPS location of the good; the server for the financial institution making the tracking information available to the buyer system and the vendor system on the network; and the server for the financial institution automatically triggering payment to the vendor system based on a predetermined occurrence identified by the tracking information.
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2. A method for order fulfillment, comprising:
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a server for a financial institution comprising a computer processor receiving a purchase order file from a buyer system, the purchase order corresponding to a trade transaction; the server for the financial institution uploading the purchase order file to a server; the server for the financial institution automatically populating a letter of credit based on the contents of the purchase order file; the server for the financial institution automatically generating a unique identifier for the purchase order file, wherein the unique identifier comprises a machine-readable code; the server for the financial institution associating the unique identifier with the letter of credit; the server for the financial institution providing the unique identifier to a vendor system for physical attachment to the letter of credit; the server for the financial institution posting the letter of credit to a network; the server for the financial institution uploading to the server at least one of an invoice and shipping documents related to the letter of credit and/or purchase order; the server for the financial institution associating the unique identifier with the at least one of the invoice and shipping documents, wherein associating the unique identifier with the at least one of the invoice and shipping documents comprises physically attaching the unique identifier to the at least one of the invoice and shipping document; the server for the financial institution posting the at least one of the invoice and shipping documents on the network for review by the buyer system and the vendor system; the server for the financial institution interfacing with a third party tracking system to receive tracking information for a good associated with the trade transaction based on a GPS location of the good; the server for the financial institution, in cooperation with an insurance module, facilitating insurance for the good based on the GPS location of the good; the server for the financial institution making the tracking information available to the buyer system and the vendor system on the network; and the server for the financial institution automatically triggering payment to the vendor system based on a predetermined occurrence identified by the tracking information.
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3. A method for order fulfillment, comprising:
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a server for a financial institution a computer processor receiving a purchase order file; the server for the financial institution populating a letter of credit based on the contents of the purchase order file, the purchase order corresponding to a trade transaction; the server for the financial institution populating a shipping instruction based on the contents of the purchase order file; the server for the financial institution associating a unique identifier comprising a machine-readable code with the shipping instruction; the server for the financial institution providing the unique identifier to a vendor for physical attachment to the shipping instruction; the server for the financial institution posting the shipment instruction to a network; the server for the financial institution uploading to the server at least one of an invoice and shipping documents related to the shipment instruction and/or purchase order; the server for the financial institution associating the unique identifier with the at least one of the invoice and shipping documents, wherein associating the unique identifier with the at least one of the invoice and shipping documents comprises physically attaching the unique identifier to the at least one of the invoice and any shipping document; the server for the financial institution posting the at least one of the invoice and shipping documents on the network for review; the server for the financial institution interfacing with a third party tracking system to receive tracking information for a good associated with the trade transaction based on a GPS location of the good; the server for the financial institution, in cooperation with an insurance module, facilitating insurance for the good based on the GPS location of the good; the server for the financial institution making the tracking information available to parties of the trade transaction; and the server for the financial institution automatically triggering payment to the vendor based on a predetermined occurrence identified by the tracking information.
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Specification