Multiparty transaction system
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United States of America Patent
Stats
-
N/A
Issued Date -
May 19, 2005
app pub date -
Aug 10, 2004
filing date -
Feb 11, 2002
priority date (Note) -
Abandoned
status (Latency Note)
Importance
Abstract
A multiparty transaction system for managing the payment of invoices where approval of multiple parties are involved. The system may permit the participation of third party beneficiaries and the management of invoices and payments by a third party intermediary among sellers, obligors, and beneficiaries. The division of invoice payment responsibility is enabled by a convenient mechanism. Various user interface elements that are particularly applicable to the complex environment of three party transactions. The systems described in detail in the context of soft dollar payments for vendor services supplied to securities brokers on behalf of the soft dollars of fund managers.
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