Method of administering a rebate system
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United States of America Patent
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-
Mar 8, 2005
Grant Date -
N/A
app pub date -
May 11, 1999
filing date -
May 11, 1998
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
In a method of administering a rebate system, rebate-related information is electronically transmitted from a rebate issuing entity and is received by a central processing authority. The rebate-related information includes information identifying a consumer and information relating to a purchase made by the consumer from the rebate issuing entity. The central authority determines an amount of a rebate that is to be credited to the consumer, based on information previously provided by the rebate issuing entity. The rebate issuing entity is invoiced for the amount of the rebate, wherein the amount is payable to an omnibus trust account, wherein a trustee has exclusive control over the omnibus trust account and the trustee is authorized to transfer a credit from the omnibus trust account to the consumer.
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