Method of administering a financial instrument having a service voucher-based return component

• US 6,058,371 A
• Filed: 05/08/1998
• Issued: 05/02/2000
• Est. Priority Date: 05/08/1998
• Status: Expired due to Term

• Current Assignee: Jacques-Henri Djian
• Original Assignee: Jacques-Henri Djian
• Inventors: Djian, Jacques-Henri
• Primary Examiner(s): MacDonald, Allen R.
• Assistant Examiner(s): Thompson, Jr., Forest
• Application Number:
  US09/075,113
• Time in Patent Office: 725 Days
• Field of Search: 705/14, 705/1, 705/27
• US Class Current: 705/14.27
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0235 constrained by time limit or expiration date
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives

Abstract

In a method of administering a capital funding system, a first predetermined monetary sum, representing a principle amount of a bond, is accepted as a loan from a subscribing entity. A second predetermined monetary sum, representing a first portion of an interest payment for the first predetermined monetary sum, is periodically transferred to the subscribing entity, the second monetary sum. At least one service voucher is periodically transferred to the subscribing entity, the service voucher having a value representing a second portion of an interest payment for the first predetermined monetary sum and entitling a bearer to a predetermined quantity of a selected service.

Claims

1. A data processing system for administering a capital funding system, comprising:

a. means for accepting a first predetermined monetary sum as a loan from a subscribing entity, the first predetermined monetary sum representing a principle amount of a bond;

b. computer processing means for periodically transferring a second predetermined monetary sum to the subscribing entity, the second monetary sum representing a first portion of an interest payment for the first predetermined monetary sum; and

c. computer processing means for periodically transferring at least one service voucher to the subscribing entity, the service voucher having a value representing a second portion of an interest payment for the first predetermined monetary sum and entitling a bearer to a predetermined quantity of a selected service.

2. The method of claim 1, wherein the selected service comprises airline frequent flier miles.

3. The method of claim 1, wherein the selected service comprises accommodation periods at a hotel.

4. The method of claim 1, wherein the selected service comprises car rental units.

5. The method of claim 1, wherein the selected service comprises telephone usage units.

6. A computer system for administering a financial instrument, comprising:

a. a computer; and

b. a computer-readable memory encoded with a program for causing the computer to execute the following steps;

i. assign a voucher-to-interest ratio to a memory location designated as M1, the voucher-to-interest ratio representing a value of service vouchers paid to a subscriber as a function of a value of cash due to the subscriber when payment is made to the subscriber in service vouchers instead of cash;

ii. assign a value corresponding to a principle amount of a bond that was paid to an issuing entity by a subscribing entity to a memory location designated as M2;

iii. assign an interest rate to a memory location designated as M3;

iv. calculate an interest amount to be paid at the end of a predetermined period as interest on the bond, wherein the interest amount equals the valued stored in M2 times the value stored in M3, and assign the interest amount to a memory location designated as M4;

v. determine a value for a service voucher, the service voucher being one service voucher of a plurality of equally-valued service vouchers, the service voucher entitling a bearer to a predetermined quantity of a selected service and assign the value of the service voucher to a memory location designated as M5;

vi. calculate a total value of service vouchers to be paid to the subscribing entity, wherein the total value of service vouchers equals the value stored in M1 times the value stored in M4, and assign the total value of service vouchers to a memory location designated as M6;

vii. calculate a number of service vouchers to be transferred to the subscribing entity, wherein the number equals the value stored in M6 divided by the value stored in M5, and assign the number to a memory location designated as M7; and

viii. transfer the number of service vouchers, the value of which is stored in M7, to the subscribing entity.

7. The computer system of claim 6, wherein the computer-readable memory is further encoded with a program for causing the computer to further execute the following steps:

ix. assign a flag to a memory location designated as M9, wherein the flag, if set, indicates that the subscribing entity is to receive only service vouchers as interest payments;

x. assign to a memory location designated a M8 a fraction indicating a percentage of an interest payment to be paid in service vouchers;

xi. determine if the flag stored in memory location M9 has been set and if the flag stored in memory location M9 has not been set, then executing the following steps prior to executing step vi. of claim 6;

A. determine a value of a first partial interest payment to be paid in service vouchers to the subscribing entity, wherein the value of the first partial interest payment equals the value stored in M8 times the value stored in M4, and assign value of the first partial interest payment to a memory location designated as M10; and

B. determine a cash value to be paid to the subscribing entity as a second partial interest payment, wherein the cash value of the second partial interest payment equals the value stored in M4 times the value stored in M10, and assign the value off the second partial interest payment to a memory location designated as M11; and

C. assign the value stored in M10 to M4; and

xii. transfer cash in the value stored in M11 to the subscribing entity.

8. The computer system of claim 6, wherein the selected service comprises airline frequent flier miles.

9. The computer system of claim 6, wherein the selected service comprises accommodation periods at a hotel.

10. The computer system of claim 6, wherein the selected service comprises car rental units.

11. The computer system of claim 6, wherein the selected service comprises telephone usage units.

12. A method of exchanging service vouchers between several subscribing entities, comprising the steps of:

a. receiving from a first subscribing entity a service voucher of a first type issued as payment of at least part of an interest obligation;

b. crediting in a computer database an account assigned to the first subscribing entity with a value indicator corresponding to the service voucher of the first type;

c. receiving from a second subscribing entity a service voucher of a second type issued as payment of at least part of an interest obligation;

d. crediting in a computer database an account assigned to the second subscribing entity with a value indicator corresponding to the service voucher of the second type;

e. receiving a request from the second subscribing entity for a service voucher of the first type; and

f. issuing a computer-generated instruction to transfer a service voucher of the first type to the second subscribing entity and to deduct from the account of the second subscribing entity a value indicator corresponding to the service voucher of the first type if the account of the second subscribing entity includes a value indicator at least equal to the value indicator corresponding to the service voucher of the first type.

13. An apparatus for administering a financial instrument, comprising:

a. a computer for assigning a first value to a first memory location, the first value corresponding to a principle amount of a bond that was paid to an issuing entity by a subscribing entity;

b. a computer for calculating an interest amount to be paid periodically as interest on the bond;

c. a computer for calculating a value for a plurality of service vouchers, each service voucher entitling a bearer to a predetermined quantity of a selected service; and

d. a computer for periodically transferring to the subscribing entity a number of service vouchers to the subscribing entity, the number of service vouchers having a value equal to a predetermined portion of the interest amount.

14. The apparatus of claim 13, wherein the selected service comprises airline frequent flier miles.

15. The apparatus of claim 13, wherein the selected service comprises accommodation periods at a hotel.

16. The apparatus of claim 13, wherein the selected service comprises car rental units.

17. The apparatus of claim 13, wherein the selected service comprises telephone usage units.

18. A method of providing services, comprising the steps of:

a. employing a computer, programmed to use actuarial methods, to estimate a quantity of units of a selected service that will be unused during a predetermined future period;

b. assigning a value to each unit of the selected service;

c. employing a computer to generate a service voucher for each unit of the selected service, wherein the service voucher entitles a holder to a unit of the selected service; and

d. employing a computer programmed to transfer a plurality of the service vouchers to a subscribing entity as payment for at least a portion of interest on a bond.

19. The method of claim 18, wherein the selected service comprises airline frequent flier miles.

20. The method of claim 18, wherein the selected service comprises accommodation periods at a hotel.

21. The method of claim 18, wherein the selected service comprises car rental units.

22. The method of claim 18, wherein the selected service comprises telephone usage units.

23. A process for administering a financial instrument, comprising:

a. storing, in a computer memory, a first number corresponding to a principle obligation, the principle obligation obligating an issuing entity to pay a principle amount to a subscribing entity by a predetermined date;

b. storing, in a computer memory a second number corresponding to an interest obligation, the interest obligation obligating the issuing entity to pay periodically to the subscribing entity a payment of an interest portion having a predetermined value;

c. storing, in a computer memory, a third number corresponding to a service voucher obligation, the service voucher obligation obligating the issuing entity to transfer periodically to the subscribing entity at least one service voucher having a predetermined value, each service voucher entitling a bearer to a predetermined quantity of a selected service,

whereby the value of a periodic payment of the service voucher obligation plus the value of a periodic payment of the interest obligation corresponds to an interest payment on the principle amount; and

d. periodically generating a computer instruction to transfer to the subscribing entity the at least one service voucher and the payment of the interest portion.

24. The process for administering a financial instrument of claim 23, wherein the selected service comprises airline frequent flier miles.

25. The process for administering a financial instrument of claim 23, wherein the selected service comprises accommodation periods at a hotel.

26. The process for administering a financial instrument of claim 23, wherein the selected service comprises car rental units.

27. The process for administering a financial instrument of claim 23, wherein the selected service comprises telephone usage units.