Electronically implemented floorplan auditing system and method
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United States of America Patent
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Sep 10, 2013
Grant Date -
Jun 26, 2008
app pub date -
Apr 30, 2007
filing date -
Apr 28, 2006
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
An electronic method of auditing floorplan loans is provided. The floorplan loans are provided by a lending source to a plurality of vehicle dealers. The method includes, for each of the plurality of vehicle dealers, an entity other than the lending source or a dealer (i) retrieving the lending source's records corresponding to the dealer's floorplan loan; (ii) retrieving the dealer's internal financial records used by the dealer for tracking sales; (iii) comparing the lending source's records with the dealer's internal financial management records to determine a variance between the lending source's records and the dealer's records; and (iv) reporting the variance to the lending source.
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Cited Art Landscape
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