System and Method for Using Credit and Quality Testing for the Procurement and Payment of Goods and Services

• US 20080086415A1
• Filed: 09/22/2006
• Published: 04/10/2008
• Est. Priority Date: 09/22/2006
• Status: Abandoned Application

• Current Assignee: Lloyd's Register North America, Inc., Resurgence Software, Inc., US Bancorp Licensing Incorporated (US Bancorp)
• Original Assignee: Lloyd's Register North America, Inc., Resurgence Software, Inc., US Bancorp Licensing Incorporated (US Bancorp)
• Inventors: Stubbs, Alistair, Oleniczak, Michael J., Bubrig, Karl T.
• Application Number:
  US11/534,468
• Publication Number:
  US 20080086415A1
• Time in Patent Office: Days
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

The invention relates generally to a method and system for managing the selection, procurement, and payment of goods and services. More specifically, the invention relates to a method for managing procurement and payment of goods and services integrated with both quality assurance services and a payment system to facilitate payment. In an embodiment a merchant and a buyer enter into an order that sets forth an amount and minimum specification of goods or services to be supplied to the buyer, and a price for the amount of goods or service. Goods or services are delivered to the buyer, and a sample is obtained. The sample is tested for at least one factor and test results transmitted to a payment service. Subject to a satisfactory test result the payment service provides payment for the goods or services in accordance with the order and the test results.

Claims

1. A method for managing the procurement of goods or services by a buyer, the method comprising:

forming an agreement between a provider and the buyer;

performing at least one of a quality or quantity check on the provider'"'"'s goods or services; and

providing a payment to the provider for the goods or services based on the actual quality or quantity of the goods or services delivered to the buyer based on the quality or quantity check.

2. The method of claim 1 further comprising reviewing one or more providers'"'"' data regarding each provider'"'"'s goods or services.

3. The method of claim 2, wherein providers'"'"' data comprises one of previous quality and previous quantity measures.

4. A method for managing the procurement of goods or services that ensures by third party verification that items purchased meet an agreed quality standard, the method comprising:

identifying suppliers based on objective previous quality and quantity measures that are appropriate for the goods or services being procured;

selecting a supplier based on the objective previous quality and quantity measures;

providing a payment service whereby the payment service enters into agreements with the buyer and the supplier and wherein the payment service creates an agreement between the buyer and the supplier by virtue of the buyer and supplier'"'"'s respective agreements with the payment service;

ensuring the goods or services supplied to the buyer are to the specified quantity and quality in the agreement between the buyer and the supplier by applying objective tests wherein the objective tests generate actual quality and actual quantity measures;

completing the transaction between the buyer and the supplier if the actual quality and actual quantity measures meet the specifications of the agreement between the buyer and the supplier; and

providing a resolution process if the actual quality and actual quantity measures do not meet the specifications of the agreement between the buyer and the supplier.

5. A method for managing fuel procurement and payment services for marine bunkering transactions, the method comprising:

establishing a bunker order between a fuel merchant and a buyer, said bunker order setting forth an amount of fuel to be supplied to the buyer by the fuel merchant, bunker specifications to be satisfied by the amount of fuel, and a price for the amount of fuel;

delivering said amount of fuel set forth in the bunker order from the fuel merchant to the buyer;

obtaining a fuel test sample from the amount of fuel delivered to the buyer and transmitting said fuel test sample to a bunker surveyor;

testing the fuel test sample, whereby said bunker surveyor measures at least one bunker factor of the fuel test sample and prepares test results indicating whether said at least one bunker factor of the fuel test sample satisfies said bunker specifications;

transmitting said test results from said bunker surveyor to a payment service;

if said test results indicate satisfaction of said bunker specifications, electronically providing a payment from said payment service to said fuel merchant for delivering the amount of fuel in accordance with the bunker order and billing said buyer for said payment; and

if said test results indicate failure to satisfy said bunker specifications, awaiting notification of a successful resolution between said fuel merchant and said buyer prior to electronically providing the payment from said payment service to said fuel merchant and billing said buyer for said payment.

6. The method for managing fuel procurement and payment services of claim 5, wherein the fuel merchant and the payment service, prior to establishment of the bunker order, enter into a merchant agreement setting forth payment terms for the payment from said payment service to said fuel merchant, and setting forth testing terms of the testing performed on said fuel test sample by said bunker surveyor.

7. The method for managing fuel procurement and payment services of claim 5, wherein the buyer and the payment service, prior to establishment of the bunker order, enter into an account agreement setting forth a line of credit to the buyer for funding the payment to the fuel merchant, and setting forth testing terms of the testing performed on said fuel test sample by said bunker surveyor.

8. The method for managing fuel procurement and payment services of claim 5, wherein the payment service extends a line of credit to said buyer prior to establishment of the bunker order, and wherein the step of electronically providing the payment to the fuel merchant includes borrowing against said line of credit.

9. The method for managing fuel procurement and payment services of claim 5, wherein the payment service and the bunker surveyor, prior to establishment of the bunker order, enter into a testing services agreement setting forth procedures for obtaining the fuel test sample and testing the fuel test sample.

10. The method for managing fuel procurement and payment services of claim 5, further comprising the step of performing a fuel quantity survey, whereby the bunker surveyor assesses the amount of fuel delivered to the buyer.

11. The method for managing fuel procurement and payment services of claim 5, wherein said bunker specifications are determined based on standards set by the International Organization for Standardization (ISO).

12. The method for managing fuel procurement and payment services of claim 5, wherein, if said test results indicate failure to satisfy said bunker specifications, said fuel merchant and said buyer commence a predetermined dispute resolution process.

13. The method for managing fuel procurement and payment services of claim 12, wherein, if the successful resolution between said fuel merchant and said buyer includes a reduced price for said amount of fuel, said payment service being notified of said reduced price prior to the payment to the fuel merchant.

14. The method for managing fuel procurement and payment services of claim 12, wherein said payment service provides a transaction processing system adapted to receive electronic indicia of fuel delivery and test results and to electronically provide the payment to said fuel merchant.

15. The method for managing fuel procurement and payment services of claim 5, further comprising the step of requesting preauthorization, prior to delivering said amount of fuel to the buyer, including transmitting a pre-authorization request from said fuel merchant to said payment service, where approval of said pre-authorization request by said payment service is required before the payment service provides the payment to the fuel merchant.

16. The method for managing fuel procurement and payment services of claim 15, wherein said payment service receives said pre-authorization request and approves the said pre-authorization request upon validity verification of the bunker order.

17. The method for managing fuel procurement and payment services of claim 5, further comprising the step of providing a networked computer software application adapted to provide a user interface to the buyer, receive fuel merchant search criteria from the buyer, and display a result list of fuel suppliers matching said search criteria to the buyer, said displayed fuel suppliers being suitable for delivering fuel to the buyer in accordance with the bunker order.

18. A transaction system for managing fuel procurement and payment services for marine bunkering transactions, the system comprising:

a fuel merchant;

a buyer, said fuel merchant and said buyer being in communication to enter into a bunker order for supplying an amount of fuel meeting predefined bunker specifications to the buyer; and

a transaction processing system operatively associated with said fuel supplier and said fuel buyer and adapted to;

receive notification of a fuel delivery to the buyer corresponding to said bunker order;

receive test results from a bunker surveyor, said test results including a measurement of at least one bunker factor of a fuel test sample taken from the amount of fuel supplied at the fuel delivery to the buyer;

if said measurement of said at least one bunker factor satisfies a predetermined criterion defined by said predefined bunker specifications, electronically provide a payment to said fuel merchant for supplying the amount of fuel in accordance with the bunker order and bill said buyer for said payment; and

if said measurement of said at least one bunker factor does not satisfy the predetermined criterion defined by said predefined bunker specifications, await notification of a resolution between said fuel merchant and said buyer prior to electronically providing the payment to said fuel merchant and billing said buyer for said payment.

19. The transaction system of claim 18, wherein said predetermined criterion defined by said predefined bunker specifications is set by the International Organization for Standardization (ISO).

20. The transaction system of claim 18, wherein a merchant agreement sets forth payment terms for the payment from said transaction processing system to said fuel merchant, said merchant agreement further setting forth testing terms of the testing performed on said fuel test sample by said bunker surveyor.

21. The transaction system of claim 18, wherein an account agreement sets forth a line of credit to the buyer for funding the payment to the fuel merchant, said account agreement further setting forth testing terms of the testing performed on said fuel test sample by said bunker surveyor.

22. The transaction system of claim 18, wherein a line of credit is extended to said buyer, and the step of electronically providing payment to said fuel merchant includes borrowing against said line of credit.

23. The transaction system of claim 18, wherein a testing services agreement sets forth testing procedures whereby said bunker surveyor receives said fuel test sample and a bunker delivery note corresponding to said bunker order, tests the fuel test sample including determining said measurement of said at least one bunker factor, and determining whether said measurement satisfies said predetermined criterion.

24. The transaction system of claim 18, wherein the transaction processing system is configured to receive a fuel quantity survey assessing the amount of fuel supplied at the fuel delivery to the buyer.