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Escrow trade agency system

  • US 20020152162A1
  • Filed: 05/15/2002
  • Published: 10/17/2002
  • Est. Priority Date: 09/14/2000
  • Status: Abandoned Application
First Claim
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1. An escrow transaction commission method, in which transactions are carried out between a supplier for supplying goods and a buyer for buying the goods through a portal site using a computer system, and an escrow transaction commission of processing the transfer of goods and payment of costs generated by the transaction is executed by a server, wherein said buyer specifies an escrow account for depositing escrow cost generated by the transaction on said portal site, said server allows a buyer specified financial institution specified by said buyer to send said escrow costs to an escrow bank holding said escrow account when said buyer enters an instruction for sending said escrow costs to said escrow account, when the deposit of said escrow costs in said escrow account is performed, said server receives a verification of the receipt of money from said escrow bank and then transmits the verification of receipt of money to said supplier, and when said supplier having received the verification of receipt of money delivers escrow target goods to said buyer, said server allows said escrow bank to pay said escrow cost deposited in said escrow account into a supplier specified financial institution specified by said supplier.

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