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

• US 7,835,971 B2
• Filed: 12/13/2004
• Issued: 11/16/2010
• Est. Priority Date: 12/12/2003
• Status: Expired due to Fees

• Current Assignee: Trade Technologies, Inc.
• Original Assignee: I O International Software, Inc., I O International Software, LLC, Trade Net Management Systems, LLC
• Inventors: Goodman, Dallas, Ballard, Will, Jones, Greg, Stockton, Michael
• Primary Examiner(s): Kyle; Charles R
• Assistant Examiner(s): Niquette; Robert R
• Application Number:
  US10/581,987
• Publication Number:
  US 20080222639A1
• Time in Patent Office: 2,164 Days
• Field of Search: 235/379, 705/1, 705/26, 705/28, 705/30, 705/34, 705 37- 40, 705/42, 705/54, 705/65, 705/80
• 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 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 of a data computing system accessing, from memory coupled to said at least one data processing device, instructions causing said at least one data processing device to upload an electronic copy of a payment contract upon which an international trade receivables transaction is dependent;

said at least one data processing device accessing, from said memory, instructions causing said at least one data processing device to prepare a transaction information portfolio including documents required for settlement of the international trade receivables transaction, wherein preparing the transaction information portfolio includes selecting said required documents dependent upon a type of the payment contract and wherein said required documents comprise transaction information for the international trade receivables transaction;

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 said required 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;

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 required documents to be individually re-submitted to the designated recipient whereby documents denoted as being acceptable need not be resubmitted;

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 said transaction information is compliant with an international banking standard in accordance with which information of the payment contract is reviewed in response to determining that all of said documents are denoted as being acceptable; and

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

2. The 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 required documents with said extracted information, wherein said information is provided in the payment contract in a system-extractable format.

3. The method of claim 1 wherein at least a portion of said required documents are system-mandated documents automatically selected by said system dependent upon at least one of a type of the international trade transaction and the type of the payment contract.

4. The method of claim 1 wherein:

said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and the type of the payment contract in combination with the international banking standard; and

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 required documents to be digitally adjoined with each other in a un-editable document file.

5. The 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 required documents whereby a reference to the condition is provided on each one of said required documents when said required documents are outputted.

6. The method of claim 1 wherein:

the international trade receivables transaction is one of a plurality of international trade receivables transactions to be settled under a common payment contract; and

a first system-managed instance of said international trade receivables transactions serves as a template for each subsequent system-managed instance of said international trade receivables transactions, whereby consistency in content and accuracy between each said system-managed instance is provided for.

7. The method of claim 1 wherein:

the association includes a current revision level of each one of said required documents; and

causing said at least one data processing device to verify that the transaction information portfolio is compliant with an international banking standard includes causing said at least one data processing device to determine that said required documents have necessary signature information indicating and certifying that said required documents are compliant with the international banking standard and have system-implemented markings that indicate which ones of such required documents are copies and which ones of said required documents are originals.

8. The 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 required documents with said extracted information;

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 required documents whereby a reference to the condition is provided on each one of said required documents when said required documents are outputted;

wherein said extracted information is provided in the payment contract in a system-extractable format;

wherein at least a portion of said required documents is system-mandated documents dependent upon at least one of a type of the international trade transaction and the type of the payment contract;

wherein causing said at least one data processing device to verify that the transaction information portfolio is compliant is performed dependent upon at least one of the type of the international trade transaction and the type of the payment contract.

9. 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 enabling said at least one data processing device to facilitate;

uploading an electronic copy of a payment contract upon which an international trade receivables transaction is dependent;

preparing a transaction information portfolio including documents required for settlement of the international trade receivables transaction, wherein preparing the transaction information portfolio includes selecting said required documents dependent upon a type of the payment contract and wherein said required documents comprise transaction information for the international trade receivables transaction;

causing a disposition of said required documents to be denoted as being discrepant or acceptable;

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

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

performing system-managed verification that said transaction information is compliant with an international banking standard in accordance with which information of the payment contract is reviewed in response to determining that all of said documents are denoted as being acceptable; and

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

10. The system of claim 9, further comprising:

systematically extracting information from the payment contract and populating fields of at least one of said required documents with said extracted information, wherein said information is provided in the payment contract in a system-extractable format.

11. The system of claim 9 wherein at least a portion of said required documents are system-mandated documents automatically selected by said system dependent upon at least one of a type of the international trade transaction and the type of the payment contract.

12. The system of claim 9 wherein;

said system-managed verification is performed dependent upon at least one of a type of the international trade transaction and the type of the payment contract in combination with the international banking standard; and

said bundling causes an original copy and a duplicate copy of at least one of said required documents to be digitally adjoined with each other in a un-editable document file.

13. The system of claim 9, further comprising:

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

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

14. The system of claim 9 wherein:

the international trade receivables transaction is one of a plurality of international trade receivables transactions to be settled under a common payment contract; and

a first system-managed instance of said international trade receivables transactions serves as a template for each subsequent system-managed instance of said international trade receivables transactions, whereby consistency in content and accuracy between each said system-managed instance is provided for.

15. The system of claim 9 wherein:

the association includes a current revision level of each one of said required documents; and

verifying that the transaction information portfolio is compliant with an international banking standard includes determining that said required documents have necessary signature information indicating and certifying that said required documents are compliant with the international banking standard and have system-implemented markings that indicate which ones of such required documents are copies and which ones of said required documents are originals.

16. The system of claim 9, further comprising:

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

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

associating the required condition with a plurality of said required documents whereby a reference to the condition is provided on each one of said required documents when said required documents are outputted;

wherein said information is provided in the payment contract in a system-extractable format;

wherein at least a portion of said required documents is system-mandated documents dependent upon at least one of a type of the international trade transaction and the type of the payment contract;

wherein verifying that the transaction information portfolio is compliant is performed dependent upon at least one of the type of the international trade transaction and the type of the payment contract.