Full service trade system
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United States of America Patent
Stats
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Feb 10, 1998
Grant Date -
N/A
app pub date -
Oct 13, 1994
filing date -
Oct 13, 1994
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A system stores criteria specified by a funder relating to trade transactions for buyers and sellers. The system compares the criteria with a proposed purchase order to determine whether the system can generate a payment guarantee on behalf of the funder for the buyer to the seller. The system also compares subsequent documents relating to an original purchase order with the original purchase order to ensure that the terms of the purchase order are properly fulfilled. When the appropriate conditions for payment are met, the system issues a funds transfer instruction to transfer payment from the buyer to the seller.
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Cited Art Landscape
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