Initiating an agreement in an e-commerce environment

• US 7,069,234 B1
• Filed: 12/22/1999
• Issued: 06/27/2006
• Est. Priority Date: 12/22/1999
• Status: Expired due to Term

• Current Assignee: Accenture Global Services Limited (Accenture PLC)
• Original Assignee: Accenture LLP (Accenture PLC)
• Inventors: Cornelius, Richard D., Chu, Kevin, Stepniczka, Andreas
• Primary Examiner(s): McAllister, Steven B.
• Application Number:
  US09/470,039
• Time in Patent Office: 2,379 Days
• Field of Search: 705/37, 705/26, 705/27
• US Class Current: 705/80
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0609 Buyer or seller confidence or verification
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

The present disclosure provides for initiation of an agreement utilizing a network. First, a buyer and a seller are allowed to negotiate terms of trade utilizing a network. A form is received from the buyer indicating the terms of trade utilizing the network. Also received utilizing the network is an identifier of the buyer. Thereafter, the form is sent to a bank for assessing the credit of the buyer utilizing the network. The bank to which the credit application is sent is based on the identifier. Next, the form is forwarded to a seller along with the assessment of the credit of the buyer. At such time, the seller is permitted to digitally sign the form utilizing the network. The digitally signed form is then received from the seller utilizing the network after which a notice is sent to the buyer indicating that the digitally signed form has been received from the seller, thus initiating the agreement.

Claims

1. A method for initiation of an agreement utilizing a network, comprising:

(a) allowing a buyer and a seller to negotiate terms of a trade utilizing a network, wherein on-line term negotiation forms may be traded via a network as buyer and seller negotiate a transaction;

(b) receiving from the buyer the form indicating the terms of trade utilizing the network;

(c) receiving an identifier from the buyer utilizing the network;

(d) sending the form to a bank for assessing the credit of the buyer utilizing the network, wherein the bank to which the credit application is sent is based on the identifier;

(e) forwarding the form to the seller along with the assessment of the credit of the buyer utilizing the network;

(f) allowing the seller to digitally sign the form utilizing the network;

(g) receiving the digitally signed form from the seller utilizing the network;

(h) transmitting a notice to the buyer indicating that the digitally signed form has been received from the seller, thus initiating the agreement;

(i) verifying the credit of the seller utilizing the network; and

(j) allowing the buyer to select from a group of options in order to settle an account utilizing the network, wherein the options include settling a minimum balance, partially settling, settling a full balance, and applying for an import loan on payment due date.

2. A method as recited in claim 1, wherein the network includes a wide area network.

3. A method as recited in claim 1, and further comprising authenticating an identity of the buyer prior to sending the form to the bank.

4. A method as recited in claim 3, wherein the identity is authenticated by requiring the submission of an identifier and a password.

5. A method as recited in claim 1, wherein the form is a combined purchase order proforma invoice.

6. A computer program embodied on a computer readable medium for initiation of an agreement utilizing a network, comprising:

(a) a code segment for allowing a buyer and a seller to negotiate terms of a trade utilizing a network, wherein on-line term negotiation forms may be traded via a network as buyer and seller negotiate a transaction;

(b) a code segment for receiving from the buyer the form indicating the terms of trade utilizing the network;

(c) a code segment for receiving an identifier from the buyer utilizing the network;

(d) a code segment for sending the form to a bank for assessing the credit of the buyer utilizing the network, wherein the bank to which the credit application is sent is based on the identifier;

(e) a code segment for forwarding the form to the seller along with the assessment of the credit of the buyer utilizing the network;

(f) a code segment for allowing the seller to digitally sign the form utilizing the network;

(g) a code segment for receiving the digitally signed form from the seller utilizing the network;

(h) a code segment for transmitting a notice to the buyer indicating that the digitally signed form has been received from the seller, thus initiating the agreement;

(i) a code segment for verifying the credit of the seller utilizing the network; and

(j) a code segment for allowing the buyer to select from a group of options in order to settle an account utilizing the network, wherein the options include settling a minimum balance, partially settling, settling a full balance, and applying for an import loan on payment due date.

7. A computer program as recited in claim 6, wherein the network includes a wide area network.

8. A computer program as recited in claim 6, and further comprising a code segment for authenticating an identity of the buyer prior to sending the form to the bank.

9. A computer program as recited in claim 8, wherein the identity is authenticated by requiring the submission of an identifier and a password.

10. A computer program as recited in claim 6, wherein the form is a combined purchase order proforma invoice.

11. A system for initiation of an agreement utilizing a network, comprising a tangible medium having embedded therein the following machine readable logic:

(a) logic for allowing a buyer and a seller to negotiate terms of a trade utilizing a network, wherein on-line term negotiation forms may be traded via a network as buyer and seller negotiate a transaction;

(b) logic for receiving from the buyer the form indicating the terms of trade utilizing the network;

(c) logic for receiving an identifier from the buyer utilizing the network;

(d) logic for sending the form to a bank for assessing the credit of the buyer utilizing the network, wherein the bank to which the credit application is sent is based on the identifier;

(e) logic for forwarding the form to the seller along with the assessment of the credit of the buyer utilizing the network;

(f) logic for allowing the seller to digitally sign the form utilizing the network;

(g) logic for receiving the digitally signed form from the seller utilizing the network;

(h) logic for transmitting a notice to the buyer indicating that the digitally signed form has been received from the seller, thus initiating the agreement;

(i) logic for verifying the credit of the seller utilizing the network; and

(j) logic for allowing the buyer to select from a group of options in order to settle an account utilizing the network, wherein the options include settling a minimum balance, partially settling, settling a full balance, and applying for an import loan on payment due date.

12. A system as recited in claim 11, wherein the network includes a wide area network.

13. A system as recited in claim 11, and further comprising logic for authenticating an identity of the buyer prior to sending the form to the bank.

14. A system as recited in claim 13, wherein the identity is authenticated by requiring the submission of an identifier and a password.

15. A system as recited in claim 11, wherein the form is a combined purchase order proforma invoice.