Credit monitoring and credit assurance in a full service trade system
First Claim
1. A computerized system for facilitating transactions in goods or services, the system comprising:
- means for allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and for electronically storing the purchase order agreement;
means for evaluating the buyer'"'"'s cumulative credit exposure at at least one particular time, based upon buyer transaction activity information stored within the system;
means for receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller'"'"'s obligations as defined by the purchase order agreement; and
means for electronically evaluating whether the seller has complied with the seller'"'"'s obligations as defined by the purchase order agreement.
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0 Petitions
Accused Products
Abstract
The present invention provides a comprehensive, integrated, computerized system for facilitating transactions in goods or services. The system is capable of facilitating transactions from early or initial stages, such as an electronically proposed purchase order, through to later or final stages, such as payment on an invoice or invoices relating to the transaction. The system is integrated to include the participation of various providers of services ancillary to transactions, such as guarantors, insurers, and shippers.
The system may allow sellers or buyers to electronically propose amendments and counter-amendments to, and to amend, through mutual agreement, a purchase order agreement. Any amendments are accounted for in later stages of the transaction facilitated by the system. The system may monitor, utilizing stored transaction information, present and anticipated future credit exposures of buyers, and utilizes the buyer credit exposure information for purposes including facilitating providing buyer credit assurance to sellers. The system may facilitate sellers obtaining financing or advance payment relating to transactions. The system may provide opportunities for sellers or buyers to obtain cargo insurance on goods or services shipped in accordance with transactions.
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Citations
31 Claims
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1. A computerized system for facilitating transactions in goods or services, the system comprising:
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means for allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and for electronically storing the purchase order agreement;
means for evaluating the buyer'"'"'s cumulative credit exposure at at least one particular time, based upon buyer transaction activity information stored within the system;
means for receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller'"'"'s obligations as defined by the purchase order agreement; and
means for electronically evaluating whether the seller has complied with the seller'"'"'s obligations as defined by the purchase order agreement. - View Dependent Claims (2, 3, 4, 6)
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5. A computerized system for facilitating transactions in goods or services, the system comprising:
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means for allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and for electronically storing the purchase order agreement;
means for evaluating the buyer'"'"'s cumulative credit exposure at at least one particular time, based upon buyer transaction activity information stored within the system;
means for receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller'"'"'s obligations as defined by the purchase order agreement;
means for electronically evaluating whether the seller has complied with the seller'"'"'s obligations as defined by the purchase order agreement;
means for electronically providing a payment instruction if the seller has been evaluated to have complied with the seller'"'"'s obligations as defined by the purchase order agreement; and
means for receiving and storing electronic evidence that the buyer has made one or more payments in connection with fulfilling buyer'"'"'s obligations as defined by the purchase order agreement. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 24, 25, 27, 28, 30, 31)
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23. A computerized method for facilitating transactions in goods or services, the method comprising:
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allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and electronically storing the purchase order agreement;
evaluating the buyer'"'"'s cumulative credit exposure at at least one particular time, based upon buyer transaction activity information stored within the system;
receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller'"'"'s obligations as defined by the purchase order agreement; and
electronically evaluating whether the seller has complied with the seller'"'"'s obligations as defined by the purchase order agreement.
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26. A computerized method for facilitating transactions in goods or services, the method comprising:
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allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and electronically storing the purchase order agreement;
evaluating the buyer'"'"'s cumulative credit exposure at at least one particular time, based upon buyer transaction activity information stored within the system;
receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller'"'"'s obligations as defined by the purchase order agreement; and
electronically evaluating whether the seller has complied with the seller'"'"'s obligations as defined by the purchase order agreement;
electronically providing a payment instruction if the seller has been evaluated to have complied with the seller'"'"'s obligations as defined by the purchase order agreement; and
receiving and storing electronic evidence that the buyer has made one or more payments in connection with fulfilling buyer'"'"'s obligations as defined by the purchase order agreement.
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29. A computer usable medium storing program code which, when executed on a computerized device, causes the computerized device to execute a computerized method for facilitating transactions in goods or services, the method comprising:
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allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and electronically storing the purchase order agreement;
evaluating the buyer'"'"'s cumulative credit exposure at at least one particular time, based upon buyer transaction activity information stored within the system;
receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller'"'"'s obligations as defined by the purchase order agreement;
electronically evaluating whether the seller has complied with the seller'"'"'s obligations as defined by the purchase order agreement;
electronically providing a payment instruction if the seller has been evaluated to have complied with the seller'"'"'s obligations as defined by the purchase order agreement; and
receiving and storing electronic evidence that the buyer has made one or more payments in connection with fulfilling buyer'"'"'s obligations as defined by the purchase order agreement.
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Specification