Computer-based method and system for aiding transactions

• US 20080221914A1
• Filed: 03/10/2008
• Published: 09/11/2008
• Est. Priority Date: 02/19/1998
• Status: Active Grant

• Current Assignee: Certco
• Original Assignee: Certco
• Inventors: Yung, Marcel Mordechay, Frankel, Yair, Kravitz, David William, Montgomery, Charles Thomas
• Granted Patent: US 8,121,949 B2
• Time in Patent Office: Days
• US Class Current: 705/1
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• 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
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

A method for providing a warranty relating to a transaction between two parties, each party having a data communications device, in a system which includes an infrastructure composed of a plurality of locations each associated with a respective institution which provides services to clients, each location having a computer system, a database coupled to the computer system and storing information about each client of the institution and a data communications device coupled to the computer system for communication with the data communications device of any one party, each party being a client of at least one of the institutions, the method containing the steps of:

transmitting a request for a warranty from one party to the transaction which is a client of the respective institution to a respective location associated with the respective institution, which request includes information identifying the other party to the transaction and information about the nature of the transaction;

conducting an exchange of information between the respective location and a location associated with a institution of which the other party is a client; and

transmitting a response to the request from the respective location to the one party.

Claims

1. A computer product, comprising computer readable media having code recorded thereon, the code configured to cause a computer to execute a method for facilitating provision of a warranty relating to a transaction between two parties, the method comprising:

receiving, from one party to the transaction which is a client of an institution to the institution, electronic signals representing a request for a warranty, which request includes information identifying an other party to the transaction and information about the nature of the transaction;

receiving, to the institution from an other institution of which the other party is a client, electronic signals representing information indicating whether the institution of which the other party is a client would support or not support the warranty; and

transmitting, from the institution to the one party, electronic signals representing a response to the request.

2. The computer product of claim 1, wherein the institutions comprise financial institutions.

3. The computer product of claim 1, wherein the method further comprises sending, from the institution to the other institution, electronic signals representing unique information from a message transferred between the parties regarding the transaction.

4. The computer product of claim 1, wherein the information includes:

an identification of the one party;

a support/not-support decision;

if a support decision, a coverage limit authorized;

if a not-support decision, information about the nature of the transaction; and

if a not-support decision, a reason for the not-support decision.

5. The computer product of claim 1, wherein the method further comprises sending, from the institution to the other institution, electronic signals representing information that includes:

an identification of the one party;

a statement of issued/non-issued status of the requested warranty; and

if the requested warranty is issued, a final coverage value when coverage is approved for the transaction.

6. The computer product of claim 1, wherein the receiving electronic signals representing a request for a warranty comprises receiving electronic signals representing information that includes two or more items of information selected from the following:

an identification of the other party;

a coverage limit requested;

unique information regarding the transaction between the one party and the other party; and

a signed portion of a message from the other party to the one party.

7. The computer product of claim 1, wherein the information indicating whether the institution of which the other party is a client would support or not support the warranty is information regarding the nature of the transaction and the method further comprises electronically comparing the information about the nature of the transaction received from the one party with the information regarding the nature of the transaction received from the institution of which the other party is a client and to use the result in the creating the warranty.

8. The computer product of claim 1, wherein the method further comprises electronically being able to handle the request for the warranty where the one party is the warrantee and the other party is the subject of the warranty and where the one party is the subject of the warranty and the other party is the warrantee.

9. A computer product, comprising computer readable media having code recorded thereon, the code configured to cause a computer to execute a method for aiding a transaction carried out electronically between a plurality of parties, the method comprising:

receiving, to an institution of a plurality of institutions in an infrastructure wherein communications systems interconnect the institutions from a party to the transaction, electronic signals representing an electronic request for a warranty that requirements that must be met by the party or an other party to the transaction to carry out the specific transaction are or will be met;

sending, from the institution to another institution, electronic signals representing first electronic information, the first electronic information including identification information regarding the party and information about the nature or content of the specific transaction;

receiving, to the institution from the other institution, electronic signals representing second electronic information, the second electronic information including information about the nature or content of the specific transaction; and

providing, to the party from the institution, electronic signals representing a status of the requested warranty.

10. The computer product of claim 9, wherein the institutions comprise financial institutions.

11. The computer product of claim 9, wherein the method further comprises electronically managing information about the party and the other party, including information about outstanding warranties for each of the party and the other party and transactional administrative information.

12. The computer product of claim 9, wherein the method further comprises electronically being able to handle the request for the warranty where the party is the warrantee and the other party is the subject of the warranty and where the party is the subject of the warranty and the other party is the warrantee.

13. The computer product of claim 9, wherein the method further comprises electronically evaluating the information about the nature or content of the specific transaction received from the other institution and using the result of the evaluation in providing the response regarding the status of the requested warranty.

14. The computer product of claim 9, wherein receiving the electronic signals representing the request for the warranty further comprises receiving electronic signals representing two or more items of information selected from the following:

an identification of the party;

a coverage limit requested;

unique information regarding the specific transaction; and

a signed portion of a message from the party to the other party.

15. A computer product, comprising computer readable media having code recorded thereon, the code configured to cause a computer to execute a method for facilitating provision of a warranty relating to a transaction between two parties, the method comprising:

transmitting, from one party to the transaction which is a client of an institution to the institution, electronic signals representing a request for a warranty, which request includes information identifying an other party to the transaction and information about the nature of the transaction, the other party being a client of an other institution and the other institution supplying electronic signals representing information indicating whether the other institution would support or not support the warranty; and

receiving, from the institution to the one party, electronic signals representing a response to the request, the response based on the information indicating whether the other institution would support or not support the warranty.

16. The computer product of claim 15, wherein the method further comprises receiving, to the institution from the other institution, electronic signals representing the information indicating whether the other institution would support or not support the warranty.

17. The computer product of claim 16, wherein the method further comprises sending, from the institution to the other, electronic signals representing information that includes:

an identification of the one party;

a statement of issued/non-issued status of the requested warranty; and

if the requested warranty is issued, a final coverage value when coverage is approved for the transaction.

18. The computer product of claim 15, wherein the method further comprises transmitting, to the institution, electronic signals representing two or more items of information selected from the following:

an identification of the other party;

a coverage limit requested;

unique information regarding the transaction between the one party and the other party; and

a signed portion of a message from the other party to the one party.

19. The computer product of claim 15, wherein the response comprises an offer of a warranty and the method further comprises transmitting, to the institution, electronic signals representing an acceptance of, and obligation to pay for, the warranty.

20. The computer product of claim 15, wherein the transmitting the request for the warranty can handle where the one party is the warrantee and the other party is the subject of the warranty and where the one party is the subject of the warranty and the other party is the warrantee.