Currency and credit rating system for business-to-business transaction
First Claim
1. A computer-implemented method of scoring a credit applicant, in order to extend a line of credit to said applicant, in a business-to-business trading community wherein the traders offer products and or services in trade, comprising:
- i) establishing a product value score for said products or services, based on desirability of said products or services offered for barter, wherein said products or services are of differing value; and
ii) establishing a cash value score based on the percent of the barter offered by said applicant, which is comprised of product or service, the remainder of the trade comprising cash,iii) inputting said product value score and said cash score value into a computer-based registry;
iv) mathematically manipulating said scores to produce a barter credit score; and
v) extending a line of credit to said applicant based on said barter credit score.
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Abstract
This invention is a system to increase the profitability of businesses by facilitating transactions between members of trade exchanges. Global-Cash flexible currency is a currency made up of part cash and part products or services in a ratio pre-selected by individual merchants. Global-cash flexible currency allows bartering merchants to recoup the costs of their goods in cash while keeping their asking prices down. Business trade is further facilitated by the extension of credit to traders and barterers under the Global-Cash credit scoring system. The Global-Cash credit scoring system takes into consideration the product or service offered in trade, the percent offered in trade, which is cash and the remaining percent, which is the value of the listings, and a possible host of other variables. A credit rating score is calculated and a novel way of calculating credit-worthiness is hereby disclosed.
53 Citations
3 Claims
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1. A computer-implemented method of scoring a credit applicant, in order to extend a line of credit to said applicant, in a business-to-business trading community wherein the traders offer products and or services in trade, comprising:
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i) establishing a product value score for said products or services, based on desirability of said products or services offered for barter, wherein said products or services are of differing value; and ii) establishing a cash value score based on the percent of the barter offered by said applicant, which is comprised of product or service, the remainder of the trade comprising cash, iii) inputting said product value score and said cash score value into a computer-based registry; iv) mathematically manipulating said scores to produce a barter credit score; and v) extending a line of credit to said applicant based on said barter credit score. - View Dependent Claims (2, 3)
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Specification
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Current AssigneeKlaus Heuring
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Original AssigneeKlaus Heuring
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InventorsHeuring, Klaus
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Primary Examiner(s)Kazimi, Hani M.
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Assistant Examiner(s)KARMIS, STEFANOS
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Application NumberUS09/639,533Time in Patent Office1,917 DaysField of Search705/37, 705/39, 705/40, 705/35, 705/36, 705/38, 705/42, 395/219, 395/214US Class Current705/38CPC Class CodesG06Q 20/02 involving a neutral party, ...G06Q 20/023 the neutral party being a c...G06Q 20/06 Private payment circuits, e...G06Q 30/0607 RegulatedG06Q 30/08 AuctionsG06Q 40/03 Credit; Loans; Processing t...G06Q 40/04 Trading; Exchange, e.g. sto...
