US6151588A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Full service trade system
Assignee: Infor US LLC
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Filing: 1998-02-09
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Granted: 2000-11-21
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Expires: 2018-02-09
Abstract
Abstract A system stores criteria specified by a funder relating to trade transactions for buyers and sellers. The system compares the criteria with a proposed purchase order to determine whether the system can generate a payment guarantee on behalf of the funder for the buyer to the seller. The system also compares subsequent documents relating to an original purchase order with the original purchase order to ensure that the terms of the purchase order are properly fulfilled. When the appropriate conditions for payment are met, the system issues a funds transfer instruction to transfer payment from the buyer to the seller.
Inventors
- 👤 Guy Frederick Tozzoli
- 👤 Christopher James Lynch
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-04 19:10
CPC Classifications
G; G06; G06Q; G06Q30/00; G06Q30/06; G06Q20/00; G06Q20/08; G06Q20/10; G06Q20/38; G06Q20/40; G06Q20/405; G06Q40/00; G06Q40/02; G06Q40/04
Claims Analysis
Total Claims: 12
Claim 1
Independent Claim
181 words
A method of facilitating trade in goods and/or services, comprising the steps of: storing, in a data processing system, offer data representing an offer to trade goods or services including overt and hidden terms; transmitting, by means of the data processing system, overt terms data representing the overt terms of the offer to trade to at least one party; inputting in the data processing system response data representing a response from the at least one party to the transmitted overt terms data; and comparing, by means of the data processing system, the response data with the offer data representing the overt and hidden terms of the offer to produce term compliance data indicating whether the response data are in compliance with the overt and hidden terms of the offer; storing data indicative of the establishing a contract for said goods and/or services based on the term compliance data; and producing payment guaranty data in the data processing system in response to the term compliance data, the payment guaranty data representing a payment guaranty to the seller for payment under the contract.
Claim 2
Independent Claim
181 words
A method of facilitating trade in goods and/or services, comprising the steps of: storing, in a data processing system, offer data representing an offer to trade goods or services including overt and hidden terms; transmitting, by means of the data processing system, overt terms data representing the overt terms of the offer to trade to at least one party; inputting in the data processing system response data representing a response from the at least one party to the transmitted overt terms data; and comparing, by means of the data processing system, the response data with the offer data representing the overt and hidden terms of the offer to produce term compliance data indicating whether the response data are in compliance with the overt and hidden terms of the offer; storing data indicative of the establishing a contract for said goods and/or services based on the term compliance data; and producing payment guaranty data in the data processing system in response to the term compliance data, the payment guaranty data representing a payment guaranty to the seller for payment under the contract.
Claim 3
Dependent Claim
75 words
The method of claim 1, further comprising the steps of storing, in the data processing system, criteria data representing criteria by which a funder's commitment to finance a trade transaction may be determined; and determining, by means of the data processing system, whether the response data complies with the stored criteria data to produce criteria compliance data indicating whether the trade transaction defined by the offer data and response data complies with the funder's criteria.
Claim 4
Dependent Claim
78 words
The method of claim 2, further comprising the step of producing, by means of the data processing system, payment guarantee data representing a payment guarantee on behalf of the funder when the criteria compliance data indicate that the trade transaction defined by the offer data and response data is in compliance with the stored criteria data and the term compliance data indicate that the response data are in compliance with the overt and hidden terms of the offer.
Claim 5
Independent Claim
160 words
A system for facilitating trade in goods and/or services, comprising: means for storing offer data representing an offer to trade goods or services including overt and hidden terms; means for transmitting overt terms data representing the overt terms of the offer to trade to at least one party; means for inputting response data representing a response from the at least one party to the transmitted overt terms data; and means for comparing the response data with the offer data representing the overt and hidden terms of the offer to produce term compliance data indicating whether the response data are in compliance with the overt and hidden terms of the offer; means for storing data indicative of establishing a contract for said goods and/or services based on the term compliance data; and means for producing payment guaranty data in response to the term compliance data, the payment guaranty data representing a payment guaranty to the seller for payment under the contract.
Claim 6
Independent Claim
160 words
A system for facilitating trade in goods and/or services, comprising: means for storing offer data representing an offer to trade goods or services including overt and hidden terms; means for transmitting overt terms data representing the overt terms of the offer to trade to at least one party; means for inputting response data representing a response from the at least one party to the transmitted overt terms data; and means for comparing the response data with the offer data representing the overt and hidden terms of the offer to produce term compliance data indicating whether the response data are in compliance with the overt and hidden terms of the offer; means for storing data indicative of establishing a contract for said goods and/or services based on the term compliance data; and means for producing payment guaranty data in response to the term compliance data, the payment guaranty data representing a payment guaranty to the seller for payment under the contract.
Claim 7
Dependent Claim
71 words
The system of claim 4, wherein said means for storing is operative to store criteria data representing criteria by which a funder's commitment to finance a trade transaction may be determined; and said means for comparing is operative to compare the response data with the stored criteria data to produce criteria compliance data indicating whether the trade transaction defined by the offer data and response data complies with the funder's criteria.
Claim 8
Dependent Claim
71 words
The system of claim 5, further comprising means for producing payment guarantee data representing a payment guarantee on behalf of the funder when the criteria compliance data indicate that the trade transaction defined by the offer data and the response data is in compliance with the stored criteria data and the term compliance data indicate that the response data are in compliance with the overt and hidden terms of the offer.
Claim 9
Dependent Claim
163 words
A digital computer for facilitating trade in goods and/or services, comprising: memory means for storing offer data representing an offer to trade goods or services including overt and hidden terms; means for transmitting overt terms data representing the overt terms of the offer to trade to at least one party; an input for inputting response data representing a response from the at least one party to the transmitted overt terms data; and processing means for comparing the response data with the offer data representing the overt and hidden terms of the offer to produce compliance data indicating whether the response data are in compliance with the overt and hidden terms of the offer; means for storing data indicative of establishing a contract for said goods and/or services based on the term compliance data; and means for producing payment guaranty data in response to the term compliance data, the payment guaranty data representing a payment guaranty to the seller for payment under the contract.
Claim 10
Dependent Claim
163 words
A digital computer for facilitating trade in goods and/or services, comprising: memory means for storing offer data representing an offer to trade goods or services including overt and hidden terms; means for transmitting overt terms data representing the overt terms of the offer to trade to at least one party; an input for inputting response data representing a response from the at least one party to the transmitted overt terms data; and processing means for comparing the response data with the offer data representing the overt and hidden terms of the offer to produce compliance data indicating whether the response data are in compliance with the overt and hidden terms of the offer; means for storing data indicative of establishing a contract for said goods and/or services based on the term compliance data; and means for producing payment guaranty data in response to the term compliance data, the payment guaranty data representing a payment guaranty to the seller for payment under the contract.
Claim 11
Independent Claim
79 words
A method of facilitating trade in goods, said method comprising: receiving, at a financing institution-accessible facility, payment-due data representing a seller's fulfillment of a sale-of-goods transaction between the seller and a buyer, the payment-due data reflecting a result of automatically comparing delivery data with delivery obligation data representing a delivery obligation of the seller in accordance with the sale-of-goods transaction; and transmitting, responsive to said received payment-due data, to a recipient data representing a payment due to the seller.
Claim 12
Independent Claim
79 words
A method of facilitating trade in goods, said method comprising: receiving, at a financing institution-accessible facility, payment-due data representing a seller's fulfillment of a sale-of-goods transaction between the seller and a buyer, the payment-due data reflecting a result of automatically comparing delivery data with delivery obligation data representing a delivery obligation of the seller in accordance with the sale-of-goods transaction; and transmitting, responsive to said received payment-due data, to a recipient data representing a payment due to the seller.
References Cited (Backward Citations)
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USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2003-11-21 | 2004-05-22 | 2004-11-21 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2007-11-21 | 2008-05-22 | 2008-11-21 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2011-11-21 | 2012-05-22 | 2012-11-21 | $7700.00 | Window Closed / Lapsed |