Method and System Configured for Facilitating Management of International Trade Receivables Transactions

• US 20080222639A1
• Filed: 12/13/2004
• Published: 09/11/2008
• Est. Priority Date: 12/12/2003
• Status: Active Grant

• Current Assignee: Trade Technologies, Inc.
• Original Assignee: I O International Software, Inc., I O International Software, LLC, Trade Net Management Systems, LLC
• Inventors: Goodman, Dallas, Ballard, Will, Jones, Greg, Stockton, Michael
• Granted Patent: US 7,835,971 B2
• Time in Patent Office: Days
• US Class Current: 718/101
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange

Abstract

A receivables transaction management platform is configured for facilitating management of international trade receivables transactions. The platform includes a task manager layer and a platform functionality layer. The task manager layer is configured for facilitating management of transaction information workflow tasks and export receivables tasks. The platform functionality layer is accessible by at least a portion of the managers and is configured for enabling facilitation of the transaction information workflow tasks and the export receivables tasks. Managing the transaction information workflow tasks and export receivables tasks includes facilitating preparation of a document and data portfolio required for settlement of an international trade receivables transaction, facilitating electronic submission of the document and data portfolio to a designated recipient and facilitating acceptance of the document and data portfolio. The platform functional components are configured for enabling user workflow functionality, data mapping functionality, data analysis functionality, data storage functionality and third party access functionality.

Claims

1. A computer-implemented method configured for facilitating management of international trade receivables transactions, comprising:

facilitating system-managed preparation of a transaction information portfolio required for settlement of an international trade receivables transaction; and

facilitating system-managed acceptance of the transaction information portfolio.

2. The method of claim 1 wherein said facilitating preparation includes uploading an electronic copy of a payment contract upon which the international trade receivables transaction is dependent.

3. The method of claim 2 wherein:

the electronic payment contract includes information in a system-extractable format; and

said preparing includes systematically extracting said information and populating fields of system-populated transaction information comprised by said portfolio with said information.

4. The method of claim 1 wherein said facilitating preparation includes selecting transaction information comprised by said portfolio.

5. The method of claim 4 wherein at least a portion of said transaction information is system-mandated transaction information dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

6. The method of claim 5 wherein:

at least one of said system-mandated transaction information is a completed document provided by a third party; and

said preparing includes uploading the completed document.

7. The method of claim 1 wherein:

at least one of said system-mandated transaction information is a completed document provided by a third party; and

said preparing includes uploading the completed document.

8. The method of claim 1 wherein said facilitating preparation includes performing system-managed verification of required transaction information in said portfolio.

9. The method of claim 8 wherein said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

10. The method of claim 1 wherein said facilitating preparation includes:

determining a required condition associated with settling the international trade receivables transaction; and

associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted.

11. The method of claim 1 wherein:

the international trade receivables transaction is one of a plurality of international trade receivables transactions to be settled under a common payment contract; and

a first system-managed instance of said international trade receivables transactions serves as a template for each subsequent system-managed instance of said international trade receivables transactions, whereby consistency in content and accuracy between each said system-managed instance is provided for.

12. The method of claim 1 wherein:

said facilitating preparation includes uploading an electronic copy of a payment contract upon which the international trade receivables transaction is dependent;

the electronic payment contract includes information in a system-extractable format;

said preparing includes systematically extracting said information and populating fields of system-populated transaction information comprised by said portfolio with said information;

said facilitating preparation includes selecting transaction information comprised by said portfolio;

at least a portion of said transaction information is system-mandated transaction information dependent upon at least one of a type of the international trade transaction and a type of the payment contract;

at least one of said system-mandated documents is a completed document provided by a third party;

said preparing includes uploading the completed document;

said facilitating preparation includes performing system-managed verification of required transaction information in said portfolio;

said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract;

said facilitating preparation includes determining a required condition associated with settling the international trade receivables transaction and associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted.

13. The method of claim 1, further comprising:

facilitating electronic submission of said portfolio to a designated recipient.

14. The method of claim 13 wherein said facilitating submission includes bundling transaction information comprised by said portfolio whereby an association is provided between said transaction information.

15. The method of claim 14 wherein the association includes a current revision level of each one of said transaction information.

16. The method of claim 12 further comprising:

facilitating electronic submission of said portfolio to a designated recipient, wherein said facilitating submission includes bundling said transaction information comprised by said portfolio whereby an association is provided between said transaction information and the association between said transaction information includes a current revision level of each one of said transaction information.

17. The method of claim 1 wherein said facilitating acceptance of the international trade receivables transaction includes:

enabling a disposition of said transaction information comprised by said portfolio to be denoted as being discrepant or acceptable;

enabling a description corresponding to a corresponding discrepancy to be specified; and

enabling revised versions of discrepant portion of said transaction information to be individually re-submitted to the designated recipient whereby transaction information denoted as being acceptable need not be resubmitted.

18. The method of claim 12 wherein said facilitating acceptance of the international trade receivables transaction includes:

enabling a disposition of said transaction information comprised by said portfolio to be denoted as being discrepant or acceptable;

enabling a description corresponding to a corresponding discrepancy to be specified; and

enabling revised versions of discrepant portion of said transaction information to be individually re-submitted to the designated recipient whereby transaction information denoted as being acceptable need not be resubmitted.

19. A computer-implemented method configured for facilitating export receivables workflow tasks, comprising:

uploading an electronic copy of a payment contract upon which an international trade receivables transaction is dependent;

selecting documents comprised by said portfolio;

performing system-managed verification of required documents in said portfolio;

bundling said documents comprised by said portfolio whereby an association is provided between said documents;

enabling a disposition of said documents comprised by said portfolio to be denoted as being discrepant or acceptable;

enabling a description corresponding to a corresponding discrepancy to be specified; and

enabling revised versions of discrepant portions of said documents to be individually re-submitted to the designated recipient whereby documents denoted as being acceptable need not be resubmitted.

20. The method of claim 19, further comprising:

systematically extracting information from the payment contract and populating fields of system-populated documents comprised by said portfolio with said information, wherein said information is provided in the electronic payment contract in a system-extractable format.

21. The method of claim 19 wherein at least a portion of said documents are system-mandated documents dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

22. The method of claim 19 wherein said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

23. The method of claim 19, further comprising:

determining a required condition associated with settling the international trade receivables transaction; and

associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted.

24. The method of claim 19 wherein:

the international trade receivables transaction is one of a plurality of international trade receivables transactions to be settled under a common payment contract; and

a first system-managed instance of said international trade receivables transactions serves as a template for each subsequent system-managed instance of said international trade receivables transactions, whereby consistency in content and accuracy between each said system-managed instance is provided for.

25. The method of claim 19 wherein the association includes a current revision level of each one of said documents.

26. The method of claim 19, further comprising:

systematically extracting information from the payment contract and populating fields of system-populated documents comprised by said portfolio with said information;

determining a required condition associated with settling the international trade receivables transaction; and

associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted;

wherein said information is provided in the electronic payment contract in a system-extractable format;

wherein at least a portion of said documents and data are system-mandated documents and data dependent upon at least one of a type of the international trade transaction and a type of the payment contract;

wherein said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

27. A system configured for facilitating management of international trade receivables transactions, comprising:

at least one data processing device;

instructions processable by said at least one data processing device; and

an apparatus from which said instructions are accessible by said at least one data processing device;

wherein said instructions are configured for enabling said at least one data processing device to facilitate;

system-managed preparation of a transaction information portfolio required for settlement of an international trade receivables transaction; and

system-managed acceptance of the transaction information portfolio.

28. The system of claim 27 wherein said facilitating preparation includes uploading an electronic copy of a payment contract upon which the international trade receivables transaction is dependent.

29. The system of claim 28 wherein:

the electronic payment contract includes information in a system-extractable format; and

said preparing includes systematically extracting said information and populating fields of system-populated transaction information comprised by said portfolio with said information.

30. The system of claim 27 wherein said facilitating preparation includes selecting documents and data comprised by said portfolio.

31. The system of claim 29 wherein at least a portion of said transaction information is system-mandated transaction information dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

32. The system of claim 31 wherein:

at least one of said system-mandated documents is a completed document provided by a third party; and

said preparing includes uploading the completed document.

33. The system of claim 27 wherein:

at least one of said system-mandated documents is a completed document provided by a third party; and

said preparing includes uploading the completed document.

34. The system of claim 27 wherein said facilitating preparation includes performing system-managed verification of required transaction information in said portfolio.

35. The system of claim 34 wherein said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

36. The system of claim 27 wherein said facilitating preparation includes:

determining a required condition associated with settling the international trade receivables transaction; and

associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted.

37. The system of claim 27 wherein:

the international trade receivables transaction is one of a plurality of international trade transactions to be settled under a common payment contract; and

a first system-managed instance of said international trade receivables transactions serves as a template for each subsequent system-managed instance of said international trade receivables transactions, whereby consistency in content and accuracy between each said system-managed instance is provided for.

38. The system of claim 27 wherein:

said facilitating preparation includes uploading an electronic copy of a payment contract upon which the international trade receivables transaction is dependent;

the electronic payment contract includes information in a system-extractable format;

said preparing includes systematically extracting said information and populating fields of system-populated transaction information comprised by said portfolio with said information;

said facilitating preparation includes selecting transaction information comprised by said portfolio;

at least a portion of said transaction information are system-mandated transaction information dependent upon at least one of a type of the international trade transaction and a type of the payment contract;

at least one of said system-mandated documents is a completed document provided by a third party;

said preparing includes uploading the completed document;

said facilitating preparation includes performing system-managed verification of required transaction information in said portfolio;

said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract;

said facilitating preparation includes determining a required condition associated with settling the international trade receivables transaction and associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted.

39. The system of claim 27 wherein said instructions are configured for enabling said at least one data processing device to facilitate electronic submission of said portfolio to a designated recipient.

40. The system of claim 39 wherein said facilitating submission includes bundling transaction information comprised by said portfolio whereby an association is provided between said transaction information.

41. The system of claim 40 wherein the association includes a current revision level of each one of said transaction information.

42. The system of claim 38 wherein:

said instructions are configured for enabling said at least one data processing device to facilitate electronic submission of said portfolio to a designated recipient.

said facilitating submission includes bundling said transaction information comprised by said portfolio whereby an association is provided between said transaction information; and

the association between said transaction information includes a current revision level of each one of said transaction information.

43. The system of claim 27 wherein said facilitating acceptance of the transaction information portfolio includes:

enabling a disposition of said transaction information comprised by said portfolio to be denoted as being discrepant or acceptable;

enabling a description corresponding to a corresponding discrepancy to be specified; and

enabling revised versions of discrepant portions of said transaction information to be individually re-submitted to the designated recipient whereby transaction information denoted as being acceptable need not be resubmitted.

44. The system of claim 38 wherein said facilitating acceptance of the transaction information portfolio includes:

enabling a disposition of said transaction information comprised by said portfolio to be denoted as being discrepant or acceptable;

enabling a description corresponding to a corresponding discrepancy to be specified; and

enabling revised versions of discrepant portions of said transaction information to be individually re-submitted to the designated recipient whereby transaction information denoted as being acceptable need not be resubmitted.

45. A system configured for facilitating document and export receivables workflow tasks, comprising:

at least one data processing device;

instructions processable by said at least one data processing device; and

an apparatus from which said instructions are accessible by said at least one data processing device;

wherein said instructions are configured for enabling said at least one data processing device to facilitate;

uploading an electronic copy of a payment contract upon which an international trade receivables transaction is dependent;

selecting documents comprised by said portfolio;

performing system-managed verification of required documents in said portfolio;

bundling said documents comprised by said portfolio whereby an association is provided between said documents;

enabling a disposition of said documents comprised by said portfolio to be denoted as being discrepant or acceptable;

enabling a description corresponding to a corresponding discrepancy to be specified; and

enabling revised versions of discrepant portions of said documents to be individually re-submitted to the designated recipient whereby documents denoted as being acceptable need not be resubmitted.

46. The system of claim 45, further comprising:

systematically extracting information from the payment contract and populating fields of system-populated documents comprised by said portfolio with said information, wherein said information is provided in the electronic payment contract in a system-extractable format.

47. The system of claim 45 wherein at least a portion of said documents are system-mandated documents dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

48. The system of claim 45 wherein said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

49. The system of claim 45, further comprising:

determining a required condition associated with settling the international trade receivables transaction; and

associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted.

50. The system of claim 45 wherein:

the international trade receivables transaction is one of a plurality of international trade receivables transactions to be settled under a common payment contract; and

a first system-managed instance of said international trade receivables transactions serves as a template for each subsequent system-managed instance of said international trade receivables transactions, whereby consistency in content and accuracy between each said system-managed instance is provided for.

51. The system of claim 45 wherein the association includes a current revision level of each one of said documents.

52. The system of claim 45, further comprising:

systematically extracting information from the payment contract and populating fields of system-populated documents comprised by said portfolio with said information;

determining a required condition associated with settling the international trade receivables transaction; and

associating the required condition with a plurality of said documents whereby a reference to the condition is provided on each one of said documents when said documents are outputted;

wherein said information is provided in the electronic payment contract in a system-extractable format;

wherein at least a portion of said documents are system-mandated documents dependent upon at least one of a type of the international trade transaction and a type of the payment contract;

wherein said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and a type of the payment contract.

53. A receivables transaction management platform configured for facilitating management of international trade receivables transactions, comprising:

a task manager layer configured for facilitating management of transaction information workflow tasks and export receivables tasks; and

a platform functionality layer accessible by at least a portion of said managers and configured for enabling facilitation of said transaction information workflow tasks and said export receivables tasks.

54. The platform of claim 53 wherein said managing transaction information workflow tasks and export receivables tasks includes facilitating preparation of a transaction information portfolio required for settlement of an international trade receivables transaction and facilitating acceptance of the document and data portfolio.

55. The platform of claim 54 wherein said managing transaction information workflow tasks and export receivables tasks includes facilitating electronic submission of said portfolio to a designated recipient.

56. The platform of claim 54 wherein said managing transaction information workflow tasks and export receivables tasks includes performing system-managed verification of required documents and data in said portfolio.

57. The platform of claim 53 wherein said platform functional components are configured for enabling user workflow functionality, data mapping functionality, data analysis functionality, data storage functionality and third party access functionality.

58. The platform of claim 53 wherein the task manager layer is accessible via the Internet, whereby a user may perform said transaction information workflow tasks and said export receivables tasks over a network connection.

59. The platform of claim 58 wherein said managing transaction information workflow tasks and export receivables tasks includes facilitating preparation of a transaction information portfolio required for settlement of an international trade receivables transaction, facilitating electronic submission of said portfolio to a designated recipient and facilitating acceptance of the document and data portfolio.