Electronic factoring
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United States of America Patent
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Jul 25, 2006
Grant Date -
N/A
app pub date -
Nov 23, 1999
filing date -
Nov 23, 1998
priority date (Note) -
In Force
status (Latency Note)
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Abstract
The present invention is a method and system for electronic factoring. An electronic platform is provided for guaranteeing payment of receivables. Information from users is input into a profile database upon the electronic platform and is accessible by all users. The buyers are assigned a credit limit and are able to purchase from vendors within that credit limit. The payments for these purchases are guaranteed by a guaranteeing financial institution with is aligned with the platform.
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