Computer-based method and system for aiding transactions

• US 8,321,348 B2
• Filed: 01/24/2012
• Issued: 11/27/2012
• Est. Priority Date: 02/19/1998
• Status: Expired due to Fees

• Current Assignee: Certco
• Original Assignee: Certco
• Inventors: Frankel, Yair, Kravitz, David William, Montgomery, Charles Thomas, Yung, Marcel Mordechay
• Primary Examiner(s): Kazimi, Hani M
• Application Number:
  US13/357,213
• Publication Number:
  US 20120143723A1
• Time in Patent Office: 308 Days
• Field of Search: 705/17, 705/39, 705/40, 705/44, 705/64, 705/75, 705/76, 235/379, 235/380, 713156-158
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4037 Remote solvency checks
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0613 Third-party assisted
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02

Abstract

A method for providing a warranty relating to a transaction between two parties, each party being a client of at least one respective institution which provides services to the respective party, the method including:

• • transmitting a request for a warranty from one party to the transaction which is a client of the respective institution to a respective location associated with the respective institution, which request includes information identifying the other party to the transaction and information about the nature of the transaction;
  • conducting an exchange of information between the respective location and a location associated with a institution of which the other party is a client; and
  • transmitting a response to the request from the respective location to the one party.

Claims

1. A method to facilitate provision of an assurance relating to a transaction involving a first party and second party, the method comprising:

receiving to an institution, from the first party which is associated with the institution, electronic signals representing a request for an assurance regarding an attribute of the transaction and/or of the second party, which request includes information identifying the second party to the transaction and information about the nature of the transaction;

receiving, to the institution from an other institution associated with the second party, electronic signals representing information indicating whether the other institution associated with the second party would support or not support the assurance; and

transmitting, from the institution to the first party, electronic signals representing a response to the request.

2. The method of claim 1, wherein the institutions comprise financial institutions.

3. The method of claim 1, comprising sending, from the institution to the other institution, electronic signals representing unique information from a message transferred between the parties regarding the transaction.

4. The method of claim 1, wherein the information includes:

an identification of the first party;

a support/not-support decision;

if a support decision, a coverage limit authorized;

if a not-support decision, information about the nature of the transaction; and

if a not-support decision, a reason for the not-support decision.

5. The method of claim 1, further comprising sending, from the institution to the other institution, electronic signals representing information that includes:

an identification of the first party;

a statement of issued/non-issued status of the requested assurance; and

if the requested assurance is issued, a final coverage value when coverage is approved for the transaction.

6. The method of claim 1, wherein the receiving electronic signals representing a request for a assurance comprises receiving electronic signals representing information that includes two or more items of information selected from the following:

an identification of the second party;

a coverage limit requested;

unique information regarding the transaction between the first party and the second party; and

a signed portion of a message from the second party to the first party.

7. The method of claim 1, wherein the information indicating whether the other institution associated with the second party would support or not support the assurance is information regarding the nature of the transaction and the method further comprises electronically comparing the information about the nature of the transaction received from the first party with the information regarding the nature of the transaction received from the other institution associated with the second party and to use the result in the creating the assurance.

8. The method of claim 1, further comprising electronically being able to handle the request for the assurance where the first party is the recipient of the assurance and the second party is the subject of the assurance and where the first party is the subject of the assurance and the second party is the recipient of the assurance.

9. A method to aid a transaction carried out electronically among a plurality of parties, the method comprising:

receiving, to an institution from a party to the transaction, electronic signals representing an electronic request for an assurance that a requirement or attribute that must be met by the party or an other party to the transaction to carry out the specific transaction is or will be met;

sending, from the institution to another institution, electronic signals representing first electronic information, the first electronic information including identification information regarding the party or the other party and information about the nature or content of the specific transaction;

receiving, to the institution from the other institution, electronic signals representing second electronic information, the second electronic information including information about the nature or content of the specific transaction; and

providing, to the party from the institution, electronic signals representing a status of the requested assurance.

10. The method of claim 9, wherein the institutions comprise financial institutions.

11. The method of claim 9, further comprising electronically managing information about the party and the other party, including information about one or outstanding assurances for each of the party and the other party and transactional administrative information.

12. The method of claim 9, further comprising electronically being able to handle the request for the assurance where the party is the recipient of the assurance and the other party is the subject of the assurance and where the party is the subject of the assurance and the other party is the recipient of the assurance.

13. The method of claim 9, further comprising electronically evaluating the information about the nature or content of the specific transaction received from the other institution and using the result of the evaluation in providing the response regarding the status of the requested assurance.

14. The method of claim 9, wherein receiving the electronic signals representing the request for the assurance further comprises receiving electronic signals representing two or more items of information selected from the following:

an identification of the party;

a coverage limit requested;

unique information regarding the specific transaction; and

a signed portion of a message from the party to the other party.

15. A method to facilitate provision of an assurance relating to a transaction among a first party, associated with an institution, and a second party, associated with an other institution, the method comprising:

transmitting, from the first party to the institution, electronic signals representing a request for an assurance regarding an attribute of the transaction and/or of the second party, which request includes information identifying the second party and information about the nature of the transaction, wherein the other institution supplies electronic signals representing information indicating whether the other institution would support or not support the assurance; and

receiving, from the institution to the first party, electronic signals representing a response to the request, the response based on the information indicating whether the other institution would support or not support the assurance.

16. The method of claim 15, further comprising receiving, to the institution from the other institution, electronic signals representing the information indicating whether the other institution would support or not support the assurance.

17. The method of claim 16, further comprising sending, from the institution to the other institution, electronic signals representing information that includes:

an identification of the first party;

a statement of issued/non-issued status of the requested assurance; and

if the requested assurance is issued, a final coverage value when coverage is approved for the transaction.

18. The method of claim 15, further comprising transmitting, to the institution, electronic signals representing two or more items of information selected from the following:

an identification of the second party;

a coverage limit requested;

unique information regarding the transaction between the first party and the second party; and

a signed portion of a message from the second party to the first party.

19. The method of claim 15, wherein the response comprises an offer of an assurance and the method further comprises transmitting, to the institution, electronic signals representing an acceptance of, and obligation to pay for, the assurance.

20. The method of claim 15, wherein the transmitting the request for the assurance can handle where the first party is the recipient of the assurance and the second party is the subject of the assurance and where the first party is the subject of the assurance and the second party is the recipient of the assurance.