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System and method for facilitating electronic bidding between buyers and sellers in financial industries

  • US 20020026401A1
  • Filed: 02/21/2001
  • Published: 02/28/2002
  • Est. Priority Date: 02/21/2000
  • Status: Abandoned Application
First Claim
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1. A method for facilitating investment contract bidding between investment contract buyers and investment contract sellers;

  • comprising;

    creating, by at least one buyer, an electronic bid invitation;

    designating one or more of the sellers in which a bid is desired;

    electronically dispatching the electronic bid invitation to the designated sellers to prompt the sellers to furnish the bid;

    submitting electronic bid responses, by the designated sellers, to the buyer in response to the electronic bid invitations;

    identifying, by the buyer, a most favorable one or more of the electronic bid responses; and

    electronically notifying the seller who submitted the most favorable bid response that the buyer is requesting to enter into an investment contract with the winning seller at terms substantially defined by at least the bid response.

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