ELECTRONIC BOND AND GUARANTY PROCESS AND BUSINESS METHOD

• US 20110066523A1
• Filed: 11/22/2010
• Published: 03/17/2011
• Est. Priority Date: 05/03/2000
• Status: Active Grant

• Current Assignee: Shelton E. Harrison Jr
• Original Assignee: Shelton E. Harrison Jr
• Inventors: Harrison, Shelton E. JR.
• Granted Patent: US 8,595,145 B2
• Time in Patent Office: Days
• US Class Current: 705/26.35
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/08 Auctions
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Disclosed is a method by which suretyship bonds and guaranties can be purchased and deployed over the Internet in real time, providing automatic application evaluation and policy binding. The principal'"'"'s credit card information is used in a repeating cycle of pre-authorized charges so that the card account serves as effective collateral. A bond seal image, safeguarded against piracy, appears in Web pages indicating the existence of bond coverage. A dynamically updated gauge displays the margin of coverage available under the bond at any given moment. Means of integrating the information technology of auction site and surety company are also disclosed. The invention makes possible an unprecedented level of security in user-to-user auction environments and eliminates the need for online escrow services. Means of accepting bidder deposit accounts is also disclosed, enabling automatic, electronic payment the moment an Internet auction closes and eliminating the need for online payment services.

Claims

1. A method for providing security in an on-line transaction, comprising:

conducting the on-line transaction through a computer of a client-server environment; and

providing a seal via the client-server environment that is viewable on a display, the seal providing an indication of verification of at least one of identity and trustworthiness of the on-line transaction.

2. The method of claim 1, further comprising verifying the seal based upon a verification page viewable on the display.

3. The method of claim 2, wherein the verification page provides an indication of a validity period of the seal.

4. The method of claim 2, wherein the verification page enables confirmation that the seal associated with the on-line transaction is authentic.

5. The method of claim 1, wherein the seal provides a certification status and a period of validity for the seal.

6. A method of conducting an on-line transaction, comprising:

using a computer of a client-server environment capable of connecting to a transaction site to perform the on-line transaction;

generating a unique identifier related to the on-line transaction that is provided for display; and

enabling completion of the on-line transaction after authenticity of the unique identifier is confirmed.

7. The method of claim 6, further comprising transferring from a page associated with the on-line transaction to a verification page that provides the unique identifier.

8. The method of claim 6, wherein confirmation of the authenticity of the unique identifier comprises confirming a validity period of the unique identifier.

9. The method of claim 6, wherein the unique identifier includes a date representing a validity period of the unique identifier.

10. The method of claim 6, wherein the unique identifier includes data representing ownership of the unique identifier.

11. The method of claim 6, wherein the unique identifier enables authentication of an identity of a seller.

12. A method for providing security in an on-line transaction, comprising:

enabling a user to conduct the on-line transaction via a computer of a client-server environment;

displaying a seal, via the client-server environment, to the user engaged in the on-line transaction; and

providing a certification status and validity period of the seal to the user.

13. The method of claim 12, further comprising:

transferring the user to a verification page, viewable on a display of the client-server environment, to determine the certification status and the validity period of the seal when the user clicks on a hyperlink associated with the seal.

14. The method of claim 12, wherein at least one of the certification status and the validity period of the seal is displayed on a same page as the seal.

15. The method of claim 12, wherein the user views the displayed seal and then clicks through to a verification page by clicking on a link included in a portion of the seal.

16. The method of claim 15, wherein the verification page is provided on one of a website owned by a party separate from a seller and a web hosting service listing the on-line transaction.

17. The method of claim 12, further comprising completing the on-line transaction, with the client-server environment, when the user has performed a satisfactory evaluation of the seal.

18. A method for preventing piracy of an online image, comprising:

generating a first image for display at a specified image address, the first image displaying a first expiration date;

generating a second image that is different than the first image, the second image displaying a second expiration date; and

replacing the first image with the second image, so that the second image displays the second expiration date at the specified image address.

19. An apparatus for conducting an on-line transaction, comprising:

a client-server environment that enables an on-line transaction to be performed; and

a computer that generates a unique identifier, related to the on-line transaction, that is capable of being used to enable completion of the on-line transaction, the unique identifier being viewable on a display.

20. The apparatus of claim 19, wherein the unique identifier includes a date representing a validity period of the unique identifier.

21. The apparatus of claim 19, wherein the unique identifier includes data representing ownership of the unique identifier.

22. The apparatus of claim 19, wherein the unique identifier enables authentication of an identity of a seller.