Method and System for Structured Settlement Auctions and Trading
First Claim
Patent Images
1. A method in a data processing system for auctioning and trading structured settlements, comprising:
- receiving information from a buyer on a structured settlement to be sold;
transmitting an offer to sell the structured settlement;
receiving a bid from a buyer to buy the structured settlement;
automatically determining if the bid is the highest bid for the structured settlement;
automatically processing the receipt of funds from the buyer if the bid is the highest bid; and
automatically providing the received funds to the seller.
1 Assignment
0 Petitions
Accused Products
Abstract
The methods and systems are provided that provide an efficient, transparent and automated auction and trading exchange for structured settlements and other structured cash flows. The automated auction and trading system automatically determines and processes structured settlement and cash flow sales between buyers and sellers. The system may process the entire transaction automatically and electronically, including document processing and receipt and transmission of funds.
-
Citations
6 Claims
-
1. A method in a data processing system for auctioning and trading structured settlements, comprising:
-
receiving information from a buyer on a structured settlement to be sold; transmitting an offer to sell the structured settlement; receiving a bid from a buyer to buy the structured settlement; automatically determining if the bid is the highest bid for the structured settlement; automatically processing the receipt of funds from the buyer if the bid is the highest bid; and automatically providing the received funds to the seller. - View Dependent Claims (2)
-
-
3. A method in a data processing system for auctioning and trading structured settlements, comprising:
-
receiving information from a buyer on a structured settlement to be sold including a set sale price; transmitting an offer to sell the structured settlement; receiving an offer to purchase the structure settlement at the set sale price from a buyer; automatically processing the receipt of funds from the buyer based on the received offer; and automatically providing the received funds to the seller. - View Dependent Claims (4)
-
-
5. A data processing system for auctioning and trading structured settlements, comprising:
-
a memory configured to store instructions to cause a processor to; receive information from a buyer on a structured settlement to be sold; transmit an offer to sell the structured settlement; receive a bid from a buyer to buy the structured settlement; automatically determine if the bid is the highest bid for the structured settlement; automatically process the receipt of funds from the buyer if the bid is the highest bid; and automatically provide the received funds to the seller; and the processor configured to execute the instructions. - View Dependent Claims (6)
-
Specification