System and method for providing advanced funding for proceeds from a resolved dispute
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United States of America Patent
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Issued Date -
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app pub date -
Sep 12, 2005
filing date -
Aug 6, 1998
priority date (Note) -
Abandoned
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Abstract
A computer executable system and method for dispute resolution with advance funding capability. Opposing parties to a claim can submit at least one demand and offer; the offer and demand are not disclosed to the opposite party. After calculating a difference between the demand and the offer in at least one round and determining whether the difference falls within at least one criterion, the claim is resolved if the difference falls within the at least one criterion. The claim remains unresolved if the difference does not fall within the at least one criterion. An authorization for at least one entity to accept a payment of proceeds from a resolved dispute in exchange for having funds provided to the first party is received and funds are transferred from the entity to the first party.
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