Administering a contract over a data network
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United States of America Patent
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Aug 13, 2013
Grant Date -
Dec 13, 2007
app pub date -
Sep 30, 2003
filing date -
Oct 4, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
A computer-based method for administering performance of a contract uses a server accessible by multiple performing parties through a data network, such as the Internet. The method includes receiving performance data at the server from at least one of the performing parties through the data network. The performance data indicates an amount of work performed under the contract by the performing party, and may further include an amount of materials stored. A payment amount is determined based on the performance data. A schedule of values associated with performance of the contract may be initially stored, so that determining the payment amount is further based on comparing the performance data with the schedule of values. The payment amount is sent from the server to other performing parties through the data network. The other performing parties may be notified by an email indicating, for example, that the payment amount has been approved.
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