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Online electronic trading system including lines of credit

  • US 20060059080A1
  • Filed: 09/15/2005
  • Published: 03/16/2006
  • Est. Priority Date: 09/16/2004
  • Status: Abandoned Application
First Claim
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1. An electronic trade servicing method providing for the negotiation and resolution of a commercial agreement between a buyer and a seller, the agreement having contract terms, the method comprising:

  • securing a first electronic connection of the seller with an electronic trade system;

    securing a second electronic connection of the buyer with the electronic trade system;

    electronically defining the contract terms between the buyer and seller including defining a price term and a payment term within the trade system;

    associating a credit provider with the buyer providing the buyer a line of credit; and

    finalizing the agreement in the trade system including pledging at least a portion of the line of credit relating to the price term to secure payment by the buyer to the seller in exchange for producing contractual items.

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