Trade receivable processing method and apparatus
First Claim
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1. A method of utilizing a computer network based receivable clearinghouse for facilitating a transaction involving at least one receivable, the method comprising:
- receiving data electronically, over a computer based network, comprising receivable information from a first participant, wherein the receivable information corresponds to at least one receivable;
transmitting the data, over the computer based network, from the first participant to multiple third parties, the data comprising one or more payment terms, which are configured by the first participant;
offering the at least one receivable for sale to the multiple third parties over a receivable marketplace associated with a receivable clearinghouse;
receiving a payment offer for the at least one receivable from at least one of the multiple third parties through the receivable marketplace;
transferring an amount of the payment offer to the first participant, wherein the amount is debited against the at least one of the multiple third parties who made the offer and the amount is credited to the first participant upon acceptance of the payment offer; and
storing particulars of the payment electronically in a registry associated with the receivable clearinghouse.
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Abstract
A processing method and apparatus is provided, such as a clearinghouse, for tracking receivable and payable information, matching, negotiating, trading, providing working capital financing, and settling payments for accounts payable and accounts receivable between trading partners and finance providers.
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Citations
15 Claims
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1. A method of utilizing a computer network based receivable clearinghouse for facilitating a transaction involving at least one receivable, the method comprising:
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receiving data electronically, over a computer based network, comprising receivable information from a first participant, wherein the receivable information corresponds to at least one receivable; transmitting the data, over the computer based network, from the first participant to multiple third parties, the data comprising one or more payment terms, which are configured by the first participant; offering the at least one receivable for sale to the multiple third parties over a receivable marketplace associated with a receivable clearinghouse; receiving a payment offer for the at least one receivable from at least one of the multiple third parties through the receivable marketplace; transferring an amount of the payment offer to the first participant, wherein the amount is debited against the at least one of the multiple third parties who made the offer and the amount is credited to the first participant upon acceptance of the payment offer; and storing particulars of the payment electronically in a registry associated with the receivable clearinghouse. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of using a computer network based receivable clearinghouse for facilitating delivery of receivable information, between a first party and multiple third parties, the method comprising:
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receiving data electronically, over a computer based network, comprising at least receivable information from a first party, wherein the receivable information corresponds to at least one receivable derived from an invoice; transmitting the data, over the computer based network, from the first party to multiple third parties, the data comprising one or more payment terms, which are configured by the first participant; offering the at least one receivable for sale to the multiple third parties over a receivable marketplace associated with a receivable clearinghouse; receiving a payment offer for the at least one receivable from at least one of the multiple third parties through the receivable marketplace; transferring an amount of the payment offer to the first party, wherein the amount is debited against the at least one of the multiple third parties who made the offer and the amount is credited to the first party upon acceptance of the payment offer; and storing particulars of the payment electronically in a registry associated with the receivable clearinghouse.
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14. A computer network based receivable clearinghouse for facilitating a transaction involving at least one participant and at least one receivable, the computer network based receivable clearing house comprising:
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a data repository for holding electronic information corresponding to at least one receivable, wherein the at least one receivable is submitted by at least one participant, and the data repository is accessible to a financial institution of the at least participant; a fund settlement apparatus for settling discrepancies related to the at least one receivable, the fund settlement apparatus being operably connected to the data repository wherein daily cash settlements between the clearinghouse and the at least one participant occur; a reconciliation apparatus for reconciling payments and matching receivables at the clearinghouse; a data management and reporting apparatus for compiling data received from the at least one participant and for reporting data summarized to the at least one participant, the data management and reporting apparatus being operably connected to the data repository; and a receivable trading apparatus for interacting with a receivable marketplace wherein the at least one receivable can be offered for sale to multiple third party participants of the receivable clearinghouse, the receivable trading apparatus being operably connected to the data repository. - View Dependent Claims (15)
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Specification