System and method of assessing and rating vendor risk and pricing of technology delivery insurance
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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Mar 22, 2005
Grant Date -
Sep 25, 2003
app pub date -
Jun 5, 2003
filing date -
Aug 24, 2000
priority date (Note) -
Expired
status (Latency Note)
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Abstract
A method and system for providing a standardization and commoditizing the process of technology contracts and creating method for assessing, scoring, ranking and rating technology vendors for the purpose of comparing vendor bids on a project and for structuring and pricing insurance/surety contracts. Intrinsic and two-way vendor ratings are established for each of the vendors in a particular project. This two-way rating is used to provide a risk adjustment to the nominal bid of each of the vendors. The two-way rating is also utilized to structure and calculate an insurance premium based upon the probability that the vendor would fail/default on the delivery of a technology project.
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