×

AUTOMATED LENDING SYSTEM WITH AUTOMATIC DIVERSIFICATION AND CONTRACT EXECUTION AND SPONSORSHIPS

  • US 20090076971A1
  • Filed: 09/19/2008
  • Published: 03/19/2009
  • Est. Priority Date: 11/08/2004
  • Status: Abandoned Application
First Claim
Patent Images

1. An electronic transaction processing system for coordinating terms of contracts between a plurality of parties, each of which operate party client systems to interface to the electronic transaction processing system, including a database of transactions representing contracts, parties to the contracts and at least essential terms of the contracts, the system comprising:

  • logic for accepting party identification information of a first party from a first party client system and party identification information of a second party from a second party client system, the parties including at least borrowers and lenders;

    logic for gathering and asserting creditworthiness of borrowers;

    logic for determining essential terms of a transaction based on creditworthiness of borrowers;

    logic for coordinating agreements between borrowers and lenders using an auction process;

    logic to coordinate identification of at least the essential terms of a contract to be made between the first party and the second party;

    logic for detecting assent of each party, via their respective party client systems, to at least the essential terms of the contract;

    signaling to each of the first party and the second party the existence of a binding contract between the first party and the second party; and

    logic for coordinating execution of executable terms of the binding contract.

View all claims
  • 2 Assignments
Timeline View
Assignment View
    ×
    ×