Method and system configured for facilitating management of international trade receivables transactions

• US 20110078067A1
• Filed: 09/22/2010
• Published: 03/31/2011
• Est. Priority Date: 12/12/2003
• Status: Active Grant

• Current Assignee: Trade Technologies, Inc.
• Original Assignee: Trade Technologies, Inc.
• Inventors: Goodman, Dallas, Ballard, Will, Jones, Greg, Stockton, Michael
• Granted Patent: US 8,396,725 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• 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 to 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 export receivables workflow tasks, comprising:

at least one data processing device accessing, from memory coupled to said at least one data processing device, instructions causing said at least one data processing device to access settlement documents of an international trade receivables transaction dependent upon a type of payment contract upon which the international trade receivables to transaction is dependent;

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to perform system-managed verification that transaction information contained in at least a portion of said settlement documents is compliant with an international banking standard in accordance with which information of said payment contract is reviewed; and

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to bundle said settlement documents whereby an association is provided between said settlement documents in response to verifying that said transaction information is compliant with the international banking standard.

2. The computer-implemented method of claim 1, further comprising:

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to aggregate said settlement documents to form a transaction information portfolio comprising said settlement documents

3. The computer-implemented method of claim 1, further comprising:

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to systematically extract information from the payment contract and populating fields of at least one of said settlement documents with said extracted information.

4. The computer-implemented method of claim 1, further comprising:

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to cause a to disposition of each one of said settlement documents to be denoted as being discrepant or acceptable;

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to cause a description corresponding to a corresponding discrepancy to be specified; and

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to cause revised versions of discrepant portions of said settlement documents to be individually re-submitted to a designated recipient whereby documents denoted as being acceptable need not be resubmitted.

5. The computer-implemented method of claim 1 wherein said instructions causing said at least one data processing device to perform said bundling includes said instructions causing said at least one data processing device to cause an original copy and a duplicate copy of at least one of said settlement documents to be digitally adjoined with each other in a un-editable document file.

6. The computer-implemented method of claim 1, further comprising:

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to determine a required condition associated with settling the international trade receivables transaction; and

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to associate the required condition with a plurality of said settlement documents whereby a reference to the required condition is provided on at least one of said settlement documents when said settlement documents are outputted.

7. The computer-implemented method of claim 1 wherein causing said at least one data to processing device to perform system-managed verification that said transaction information portfolio is compliant with the international banking standard includes causing said at least one data processing device to determine that said settlement documents have necessary signature information indicating and certifying that said settlement documents are compliant with the international banking standard and have system-implemented markings that indicate which ones of such settlement documents are copies and which ones of said settlement documents are originals.

8. The computer-implemented method of claim 7, further comprising:

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to cause a disposition of each one of said settlement documents to be denoted as being discrepant or acceptable;

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to cause a description corresponding to a corresponding discrepancy to be specified; and

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to cause revised versions of discrepant portions of said settlement documents to be individually re-submitted to a designated recipient whereby documents denoted as being acceptable need not be resubmitted.

9. The computer-implemented method of claim 7, further comprising:

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to determine a required condition associated with settling the international trade receivables transaction; and

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to associate the required condition with a plurality of said settlement documents whereby a reference to the required condition is provided on at least one of said settlement documents when said settlement documents are outputted.

10. 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 causing said at least one data processing device to;

access settlement documents of an international trade receivables transaction dependent upon a type of payment contract upon which the international trade receivables transaction is dependent;

perform system-managed verification that transaction information contained in at least a portion of said settlement documents is compliant with an international banking standard in accordance with which information of said payment contract is reviewed; and

bundle said settlement documents whereby an association is provided between said settlement documents in response to verifying that said transaction information is compliant with the international banking standard.

11. The system of claim 10 wherein said instructions are further configured for causing said at least one data processing device to:

systematically extract information from the payment contract and populating fields of at least one of said settlement documents with said extracted information;

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

associate the required condition with a plurality of said settlement documents whereby a reference to the required condition is provided on at least one of said settlement documents when said settlement documents are outputted.

12. The system of claim 10 wherein said instructions are further configured for causing said at least one data processing device to:

cause a disposition of each one of said settlement documents to be denoted as being discrepant or acceptable;

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

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

13. The system of claim 10 wherein said instructions being configured for causing said at least one data processing device to perform said bundling includes said instructions being configured for causing said at least one data processing device to cause an original copy and a duplicate copy of at least one of said settlement documents to be digitally adjoined with each other in a un-editable document file.

14. The system of claim 10 wherein said instructions being configured for causing said at least one data processing device to perform system-managed verification that said transaction information portfolio is compliant with the international banking standard includes said instructions being configured for causing said at least one data processing device to determine that said settlement documents have necessary signature information indicating and certifying that said settlement documents are compliant with the international banking standard and have system-implemented markings that indicate which ones of such settlement documents are copies and which ones of said settlement documents are originals.

15. A non-transient computer-readable medium having tangibly embodied thereon and accessible therefrom a set of instructions interpretable by at least one data processing device, said set of instructions configured for causing said at least one data processing device to carry out operations for:

accessing settlement documents of an international trade receivables transaction dependent upon a type of a payment contract upon which the international trade receivables transaction is dependent;

performing system-managed verification that transaction information contained in said settlement documents is compliant with an international banking standard in accordance with which information of the payment contract is reviewed; and

bundling said settlement documents whereby an association is provided between said settlement documents in response to verifying that said transaction information is compliant with the international banking standard.

16. The non-transient computer-readable medium of claim 15 wherein said instructions are further configured for causing said at least one data processing device to carry out operations for systematically extracting information from the payment contract and populating fields of at least one of said settlement documents with said extracted information.

17. The non-transient computer-readable medium of claim 15 wherein said instructions are further configured for causing said at least one data processing device to carry out operations for:

causing a disposition of each one of said settlement documents to be denoted as being discrepant or acceptable;

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

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

18. The non-transient computer-readable medium of claim 15 wherein said instructions being configured for causing said at least one data processing device to carry our operations for performing said bundling includes said instructions being configured for causing said at least one data processing device to carry our operations for causing an original copy and a duplicate copy of at least one of said settlement documents to be digitally adjoined with each other in a un-editable document file.

19. The non-transient computer-readable medium of claim 15 wherein said instructions are further configured for causing said at least one data processing device to carry out operations for:

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

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

20. The non-transient computer-readable medium of claim 15 wherein said instructions being configured for causing said at least one data processing device to carry out operations for performing system-managed verification that said transaction information portfolio is compliant with the international banking standard includes said instructions being configured for causing said at least one data processing device to carry our operations for determining that said settlement documents have necessary signature information indicating and certifying that said settlement documents are compliant with the international banking standard and have system-implemented markings that indicate which ones of such settlement documents are copies and which ones of said settlement documents are originals.