Automated transaction processing system and approach with currency conversion
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United States of America Patent
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Jun 28, 2011
Grant Date -
Oct 12, 2006
app pub date -
Apr 12, 2005
filing date -
Apr 12, 2005
priority date (Note) -
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status (Latency Note)
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Abstract
Transaction management for contract and contract-related approaches is facilitated. According to an example embodiment of the present invention, a transaction management system automatically sets contract terms including currency conversion terms for a transaction based on business rules previously established between parties to a transaction. In one implementation, the transaction management node automatically derives a contract term including a pricing-related term for a transaction between a buyer and seller using contract information therefor. The pricing-related term is used to set a price for the transaction, and a currency conversion term is used to convert the set price (or a portion of the set price corresponding to a particular transaction party) into a different currency.
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