System and method for varying electronic settlements between buyers and suppliers with dynamic discount terms
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United States of America Patent
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Aug 14, 2012
Grant Date -
Oct 13, 2011
app pub date -
Jun 16, 2011
filing date -
May 24, 2002
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
A method of making payment. A request is received to effect payment between a buyer and a seller for a transaction having established terms. The terms include a payment amount and a settlement date. Messages are exchanged between the buyer and the seller that include an offer and acceptance of new terms for payment at other than the established terms. The new terms include an adjusted amount of payment to be made at a particular time after an event associated with the transaction. An electronic notification that the event has occurred is received, and the after the notification, payment between the buyer and seller is effected under the new terms.
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