Supply chain financing system and method
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United States of America Patent
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Dec 26, 2000
Grant Date -
N/A
app pub date -
Nov 30, 1998
filing date -
Nov 30, 1998
priority date (Note) -
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status (Latency Note)
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Abstract
A method for financing a supply of goods (a supply chain) from a supplier to a buyer in which the buyer has a lower cost of funds than the supplier. According to the method, the buyer generates a purchase order for the goods which is forwarded to the supplier who in turn ships the goods to the buyer. The supplier sends an invoice to the buyer which stores the invoice data in a database. The financing institution electronically accesses the database to retrieve the daily invoices. The financial institution then calculates the financing applicable to the shipped good and forwards a payment to the supplier. Upon maturity of the financing, the buyer settles with the financial institution by remitting the gross proceeds.
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