CA2571331A1 - Method and system for providing assurance and financing services - Google Patents

Method and system for providing assurance and financing services Download PDF

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Publication number
CA2571331A1
CA2571331A1 CA002571331A CA2571331A CA2571331A1 CA 2571331 A1 CA2571331 A1 CA 2571331A1 CA 002571331 A CA002571331 A CA 002571331A CA 2571331 A CA2571331 A CA 2571331A CA 2571331 A1 CA2571331 A1 CA 2571331A1
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Canada
Prior art keywords
seller
transactions
bank
control logic
logic configured
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CA002571331A
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French (fr)
Inventor
William Reid
Craig Swackhammer
Kerry Lynch
Johnson Lau
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Visa International Service Association
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Individual
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Priority claimed from US11/132,102 external-priority patent/US20050283433A1/en
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Publication of CA2571331A1 publication Critical patent/CA2571331A1/en
Abandoned legal-status Critical Current

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    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/03—Credit; Loans; Processing thereof
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance

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  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Finance (AREA)
  • Marketing (AREA)
  • Economics (AREA)
  • Development Economics (AREA)
  • Strategic Management (AREA)
  • Technology Law (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
  • Management, Administration, Business Operations System, And Electronic Commerce (AREA)

Abstract

A system (10) for conducting commercial transactions between buyers (12) and sellers (14) is disclosed. The system includes a transaction processing system (10) for facilitating payment for transactions between buyers (12) and sellers (14). In addition to the buyer (12) and the seller (14), the transaction processing system (10) also interacts with issuers and acquirers. The transaction processing system (10) monitors and manages payment information relating to transactions conducted between buyers (12) and sellers (14). Using such information, the transaction processing system (10) further offers a number of additional financing services including, for example, buyer (12) payment assurance, buyer bank payment assurance, buyer bank payable discounting, buyer bank payable discount aggregation, seller/receivable financing and seller bank receivable discount aggregation.

Claims (163)

1. A system for providing financing services, comprising:
control logic configured to monitor a plurality of transactions between a buyer and a seller;
control logic configured to allow the buyer to assign a buyer-assured status to a transaction, wherein the buyer-assured status indicates that payment for the transaction is assured by the buyer;
control logic configured to allow the buyer to request assurance from a buyer bank for one or more transactions and control logic configured to determine whether to provide assurance to the one or more transactions requested by the buyer and assign a bank-assured status to each transaction for which assurance is to be provided, wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer;
control logic configured to allow the buyer bank to offer buyer bank payable discounting to the seller;
control logic configured to allow the buyer bank to offer buyer bank payable discounting aggregation to the seller;
control logic configured to allow a seller bank to offer seller bank receivable discounting to the seller, wherein the seller bank handles processing of receivables from the plurality of transactions on behalf of the seller; and control logic configured to allow the seller bank to offer seller bank receivable discounting aggregation to the seller.
2. The system of claim 1 wherein once the buyer-assured status is assigned to the transaction, all information relating to the transaction is locked down and protected against subsequent modification.
3. The system of claim 1 further comprising:
control logic configured to maintain terms and conditions relating to the buyer-assured status.
4. The system of claim 1 wherein control logic configured to determine whether to provide assurance further comprises:
control logic configured to maintain terms and conditions relating to assurance; and control logic configured to utilize the terms and conditions relating to assurance to determine whether to provide assurance to the one or more transactions requested by the buyer.
5. The system of claim 1 wherein control logic configured to determine whether to provide assurance further comprises:
control logic configured to forward to the buyer bank information relating to assurance requests for the one or more transactions requested by the buyer;
and control logic configured to process responses from the buyer bank with respect to the assurance requests.
6. The system of claim 1 wherein control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises:
control logic configured to display to the seller transactions that qualify for BBPD from the buyer bank and allow the seller to request BBPD for one or more transactions selected from the qualified transactions; and control logic configured to allow the buyer bank to approve the selected one or more transactions for BBPD.
7. The system of claim 6 wherein the transactions that qualify for BBPD
include transactions having the bank-assured status and/or transactions that have been approved by the buyer bank for BBPD.
8. The system of claim 6 wherein control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises:
control logic configured to maintain general terms and conditions provided by the buyer bank for BBPD, wherein the general terms and conditions can be modified by the buyer bank;
control logic configured to allow the buyer bank to specify terms and conditions corresponding to each of the approved transactions for BBPD; and control logic configured to present to the seller for acceptance the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for BBPD.
9. The system of claim 1 wherein control logic configured to allow the buyer bank to offer buyer bank payable discounting aggregation (BBPDA) to the seller further comprises:
control logic configured to build a tranche based on a set of criteria specified by the buyer bank, wherein the tranche is associated with one or more payables corresponding to one or more of the plurality of transactions; and control logic configured to present the tranche as a line of credit to the seller.
10. The system of claim 9 wherein at least one of the one or more payables is secured.
11. The system of claim 9 further comprising:
control logic configured to maintain terms and conditions relating to the line of credit, wherein the terms and conditions relating to the line of credit are provided by the buyer bank; and control logic configured to present the terms and conditions relating to the line of credit to the seller.
12. The system of claim 9 further comprising:
control logic configured to monitor activities incurred with respect to the tranche.
13. The system of claim 9 further comprising:
control logic configured to allow the seller to issue a BBPDA request; and control logic configured to forward the BBPDA request to the buyer bank;
wherein the set of criteria specified by the buyer bank is based on the BBPDA
request.
14. The system of claim 9 further comprising:
control logic configured to monitor the one or more payables associated with the tranche to ensure that the set of criteria is satisfied.
15. The system of claim 1 wherein control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:
control logic configured to display to the seller bank transactions that qualify for SBRD; and control logic configured to allow the seller bank to offer SBRD to the seller for one or more transactions selected from the qualified transactions; and control logic configured to allow the seller to accept SBRD for one or more transactions offered by the seller bank.
16. The system of claim 15 wherein the transactions that qualify for SBRD
include transactions having the bank-assured status.
17. The system of claim 15 wherein control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:
control logic configured to maintain general terms and conditions provided by the seller bank for SBRD, wherein the general terms and conditions can be modified by the seller bank;
control logic configured to allow the seller bank to specify terms and conditions corresponding to each of the one or more transactions offered by the seller bank for SBRD; and control logic configured to present to the seller for acceptance the one or more transactions offered by the seller bank, the general terms and conditions, and the specified terms and conditions corresponding to each of the one or more transactions offered by the seller bank for SBRD.
18. The system of claim 1 wherein control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:
control logic configured to display to the seller transactions that qualify for SBRD from the seller bank and allow the seller to request SBRD for one or more transactions selected from the qualified transactions; and control logic configured to allow the seller bank to approve the selected one or more transactions for SBRD.
19. The system of claim 18 wherein the transactions that qualify for SBRD
include transactions having the bank-assured status.
20. The system of claim 18 wherein control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:

control logic configured to maintain general terms and conditions provided by the seller bank for SBRD, wherein the general terms and conditions can be modified by the seller bank;
control logic configured to allow the seller bank to specify terms and conditions corresponding to each of the approved transactions for SBRD; and control logic configured to present to the seller for acceptance the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for SBRD.
21. The system of claim 1 wherein control logic configured to allow the seller bank to offer seller bank receivable discounting aggregation (SBRDA) to the seller further comprises:
control logic configured to build a tranche based on a set of criteria specified by the seller bank, wherein the tranche is associated with one or more receivables corresponding to one or more of the plurality of transactions; and control logic configured to present the tranche as a line of credit to the seller.
22. The system of claim 21 wherein at least one of the one or more receivables is secured.
23. The system of claim 20 further comprising:
control logic configured to maintain terms and conditions relating to the line of credit, wherein the terms and conditions relating to the line of credit are provided by the seller bank; and control logic configured to present the terms and conditions relating to the line of credit to the seller.
24. The system of claim 20 further comprising:
control logic configured to monitor activities incurred with respect to the tranche.
25. The system of claim 20 further comprising:
control logic configured to allow the seller to issue a SBRDA request; and control logic configured to forward the SBRDA request to the seller bank;
wherein the set of criteria specified by the seller bank is based on the SBRDA
request.
26. The system of claim 20 further comprising:
control logic configured to monitor the one or more receivables associated with the tranche to ensure that the set of criteria is satisfied.
27. A system for providing financing services, comprising:
a plurality of buyers;
a plurality of sellers;
a plurality of buyer banks handling payable processing for the plurality of buyers;
a plurality of seller banks handling receivable processing for the plurality of sellers; and a transaction processing system configured to:
monitor a plurality of transactions conducted between the plurality of buyers and the plurality of sellers;
allow a buyer to provide buyer assurance for one or more transactions conducted with corresponding sellers;
allow a buyer to request bank assurance from one or more of its buyer banks for one or more transactions;
allow a buyer bank to determine whether to provide bank assurance to one or more transactions requested by one or more buyers associated with that buyer bank, wherein a bank-assurance status is assigned to each transaction for which bank assurance is to be provided;
allow a buyer bank to offer buyer bank payable discounting (BBPD) and buyer bank payable discounting aggregation (BBPDA) to one or more of the plurality of sellers; and allow a seller bank to offer seller bank receivable discounting (SBRD) and seller bank receivable discounting aggregation (SBRDA) to one or more sellers associated with that seller bank.
28. The system of claim 27 wherein the transaction processing system is further configured to:
maintain terms and conditions relating to bank assurance provided by the plurality of buyer banks; and utilize the terms and conditions relating to bank assurance to determine whether to provide bank assurance to one or more transactions requested by one or more of the plurality of buyers.
29. The system of claim 27 wherein the transaction processing system is further configured to:
forward to one or more buyer banks respectively information relating to assurance requests for one or more transactions requested by one or more buyers; and process responses received respectively from the one or more buyer banks with respect to the assurance requests.
30. The system of claim 27 wherein in connection with offering BBPD, the transaction processing system is further configured to:
display to one or more of the plurality of sellers respectively transactions that qualify for BBPD from one or more of the plurality of buyer banks;
allow the one or more of the plurality of sellers to request BBPD for one or more transactions selected from the qualified transactions, wherein a seller is only able to request BBPD from a buyer bank if that buyer bank has one or more payables from corresponding transactions owed to the seller; and allow the one or more of the plurality of buyer banks to approve the selected one or more transactions for BBPD.
31. The system of claim 30 wherein the transactions that qualify for BBPD
include transactions having the bank-assured status and/or transactions that have been approved respectively by the one or more of the plurality of buyer banks for BBPD.
32. The system of claim 30 wherein the transaction processing system is further configured to:
maintain general terms and conditions provided respectively by one or more of the plurality of buyer banks for BBPD, wherein the general terms and conditions can be modified by the one or more of the plurality of buyer banks;
allow one or more of the plurality of buyer banks to specify respectively terms and conditions corresponding to each of the approved transactions for BBPD;
and present to one or more of the plurality of sellers for acceptance respectively the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for BBPD.
33. The system of claim 27 wherein in connection with offering BBPDA, the transaction processing system is further configured to:
build a plurality of tranches based respectively on sets of criteria specified by the plurality of buyer banks, wherein each tranche is associated with a buyer bank and includes one or more payables corresponding to one or more of the plurality of transactions, the one or more payables being handled by the associated buyer bank; and present the plurality of tranches respectively to one or more of the plurality of sellers as lines of credit.
34. The system of claim 33 wherein at least one of the one or more payables is secured.
35. The system of claim 33 wherein the transaction processing system is further configured to:
maintain terms and conditions relating to the lines of credit, wherein the terms and conditions relating to the lines of credit are provided respectively by the one or more buyer banks; and present the terms and conditions relating to the lines of credit to the one or more of the plurality of sellers.
36. The system of claim 33 wherein the transaction processing system is further configured to:
monitor activities incurred with respect to the plurality of tranches.
37. The system of claim 33 wherein the transaction processing system is further configured to:
allow one or more of the plurality of sellers to issue BBPDA requests; and forward the BBPDA requests respectively to one or more of the plurality of buyer banks;
wherein the sets of criteria specified by the plurality of buyer banks are based respectively on the BBPDA requests.
38. The system of claim 33 wherein the transaction processing system is further configured to:
monitor the one or more payables in a tranche to ensure that the set of criteria associated with that tranche is satisfied.
39. The system of claim 27 wherein in connection with offering SBRD, the transaction processing system is further configured to:
display to one or more of the plurality of sellers respectively transactions that qualify for SBRD from one or more of the plurality of seller banks;
allow the one or more of the plurality of sellers to request SBRD for one or more transactions selected from the qualified transactions, wherein a seller is only able to request SBRD from a seller bank if that seller bank has one or more receivables from corresponding transactions owed to the seller; and allow the one or more of the plurality of seller banks to approve the selected one or more transactions for SBRD.
40. The system of claim 39 wherein the transactions that qualify for SBRD
include transactions having the bank-assured status.
41. The system of claim 39 wherein the transaction processing system is further configured to:
maintain general terms and conditions provided respectively by one or more of the plurality of seller banks for SBRD, wherein the general terms and conditions can be modified by the one or more of the plurality of seller banks;
allow one or more of the plurality of seller banks to specify respectively terms and conditions corresponding to each of the approved transactions for SBRD;
and present to one or more of the plurality of sellers for acceptance respectively the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for SBRD.
42. The system of claim 2.7 wherein in connection with offering SBRDA, the transaction processing system is further configured to:
build a plurality of tranches based respectively on sets of criteria specified by the plurality of seller banks, wherein each tranche is associated with a seller bank and includes one or more receivables corresponding to one or more of the plurality of transactions, the one or more receivables being handled by the associated seller bank; and present the plurality of tranches respectively to one or more of the plurality of sellers as lines of credit.
43. The system of claim 42 wherein at least one of the one or more payables is secured.
44. The system of claim 42 wherein the transaction processing system is further configured to:
maintain terms and conditions relating to the lines of credit, wherein the terms and conditions relating to the lines of credit are provided respectively by the one or more seller banks; and present the terms and conditions relating to the lines of credit to the one or more of the plurality of sellers.
45. The system of claim 42 wherein the transaction processing system is further configured to:
monitor activities incurred with respect to the plurality of tranches.
46. The system of claim 42 wherein the transaction processing system is further configured to:
allow one or more of the plurality of sellers to issue SBRDA requests; and forward the SBRDA requests respectively to one or more of the plurality of seller banks;
wherein the sets of criteria specified by the plurality of seller banks are based respectively on the SBRDA requests.
47. The system of claim 42 wherein the transaction processing system is further configured to:
monitor the one or more payables in a tranche to ensure that the set of criteria associated with that tranche is satisfied.
48. A system for providing receivable discounting aggregation services, comprising:

control logic configured to monitor a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller; and control logic configured to allow a seller bank to offer seller bank receivable discounting aggregation (SBRDA) to the seller using information collected from monitoring the plurality of transactions;
wherein the seller bank handles processing of receivables for the plurality of transactions on behalf of the seller.
49. The system of claim 48 wherein the control logic configured to allow the seller bank to offer seller bank receivable discounting aggregation (SBRDA) to the seller further comprises:
control logic configured to build a tranche based on a set of criteria specified by the seller bank, wherein the tranche is associated with one or more receivables corresponding to one or more of the plurality of transactions; and control logic configured to present the tranche as a line of credit to the seller.
50. The system of claim 49 wherein at least one of the one or more receivables is secured.
51. The system of claim 49 wherein at least one of the one or more receivables is unsecured.
52. The system of claim 49 further comprising:
control logic configured to maintain terms and conditions relating to the line of credit, wherein the terms and conditions relating to the line of credit are provided by the seller bank; and control logic configured to present the terms and conditions relating to the line of credit to the seller.
53. The system of claim 52 wherein the terms and conditions relating to the line of credit are modifiable by the seller bank.
54. The system of claim 49 further comprising:
control logic configured to monitor activities incurred with respect to the tranche.
55. The system of claim 54 further comprising:.

control logic configured to modify the tranche in response to the monitored activities.
56. The system of claim 49 further comprising:
control logic configured to allow the seller to issue a SBRDA request; and control logic configured to forward the SBRDA request to the seller bank;
wherein the set of criteria specified by the seller bank is based on the SBRDA

request.
57. The system of claim 49 further comprising:
control logic configured to monitor the one or more receivables associated with the tranche to ensure that the set of criteria is satisfied.
58. The system of claim 49 further comprising:
control logic configured to allow the seller bank to specify the set of criteria to be used to build the tranche.
59. The system of claim 58 wherein the control logic configured to allow the seller bank to specify the set of criteria includes a graphical user interface.
60. The system of claim 49 further comprising:
control logic configured to inform the seller bank once the tranche has been built according to the set of criteria.
61. The system of claim 60 further comprising:
control logic configured to allow the seller bank to offer the tranche as a line of credit to the seller.
62. A system for providing receivable discounting aggregation services, comprising:
a plurality of buyers;
a plurality of sellers;
a plurality of buyer banks handling payable processing for the plurality of buyers;
a plurality of seller banks handling receivable processing for the plurality of sellers; and a transaction processing system configured to:
monitor a plurality of transactions conducted between the plurality of buyers and the plurality of sellers; and allow one or more seller banks to offer seller bank receivable discounting aggregation (SBRDA) to one or more of the plurality of sellers respectively using information collected from monitoring the plurality of transactions.
63. The system of claim 62 wherein the transaction processing system is further configured to:
build one or more tranches based respectively on sets of criteria specified by the one or more seller banks, wherein each tranche is associated with a seller bank and includes one or more receivables corresponding to one or more of the plurality of transactions, the one or more receivables being handled by the associated seller bank; and present the one or more tranches respectively to the one or more of the plurality of sellers as lines of credit.
64. The system of claim 63 wherein at least one of the one or more receivables is secured.
65. The system of claim 63 wherein at least one of the one or more receivables is unsecured.
66. The system of claim 63 wherein the transaction processing system is further configured to:
maintain terms and conditions relating to the lines of credit, wherein the terms and conditions relating to the lines of credit are provided respectively by the one or more seller banks; and present the terms and conditions relating to the lines of credit respectively to the one or more of the plurality of sellers.
67. The system of claim 66 wherein the terms and conditions relating to the lines of credit are modifiable by the one or more seller banks.
68. The system of claim 62 wherein the transaction processing system is further configured to:
monitor activities incurred with respect to the one or more tranches; and modify the one or more tranches in response to the monitored activities.
69. The system of claim 62 wherein the transaction processing system is further configured to:
allow one or more of the plurality of sellers to issue SBRDA requests; and forward the SBRDA requests respectively to one or more seller banks;
wherein the sets of criteria specified by the one or more seller banks are based respectively on the SBRDA requests.
70. The system of claim 69 wherein the transaction processing system is further configured to:
identify the one or more buyer banks to which the SBRPDA requests are to be forwarded.
71. The system of claim 63 wherein the transaction processing system is further configured to:
monitor the one or more receivables in a tranche to ensure that the set of criteria associated with that tranche is satisfied.
72. A transaction processing system comprising:
control logic configured to collect receivable information relating to a plurality of transactions between a plurality of buyers and a plurality of sellers, wherein the receivable information includes information relating to receivables due to be received by a plurality of seller banks from the plurality of buyers on behalf of the plurality of sellers; and control logic configured to allow the plurality of seller banks to utilize the collected receivable information to offer seller bank receivable discounting aggregation (SBRDA) to the plurality of sellers respectively.
73. The transaction processing system of claim 72 further comprising:
control logic configured to allow a seller to issue a SBRDA request;
control logic configured to identify one or more seller banks that can potentially fulfill the SBRDA request;
control logic configured to allow the one or more seller banks to specify respective sets of criteria to build one or more tranches in response to the SBRDA request;
control logic configured to build the one or more tranches using the collected receivable information; and control logic configured to allow the one or more seller banks to respectively present the one or more tranches to the seller as lines of credit.
74. The transaction processing system of claim 73 further comprising:
control logic configured to allow the one or more seller banks to respectively specify terms and conditions associated with the one or more tranches.
75. The transaction processing system of claim 74 further comprising:
control logic configured to allow the seller to select one of the one or more tranches for use as a line of credit; and control logic configured to display the terms and conditions associated with the tranche selected by the seller.
76. The transaction processing system of claim 72 further comprising:
control logic configured to allow one or more seller banks to build one or more tranches respectively using the collected receivable information.
77. The transaction processing system of claim 76 further comprising:
control logic configured to inform a seller of one or more seller bank SBRDA
offers made respectively by the one or more seller banks, wherein each seller bank SBRDA
offer includes offering a tranche associated with a corresponding seller bank as a line of credit; and control logic configured to allow the seller to accept or reject the one or more seller bank SBRDA offers.
78. The transaction processing system of claim 76 further comprising:
control logic configured to allow the one or more seller banks to specify respectively sets of criteria to be used to build the one or more tranches.
79. The transaction processing system of claim 78 further comprising:
control logic configured to monitor activities with respect to a tranche to ensure that the set of criteria associated with that tranche is satisfied.
80. The transaction processing system of claim 78 further comprising:
control logic configured to modify a tranche to ensure that the set of criteria associated with that tranche is satisfied.
81. A system for providing receivable discounting services, comprising:
control logic configured to monitor a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller; and control logic configured to allow a seller bank to offer seller bank receivable discounting (SBRD) to the seller using information collected from monitoring the plurality of transactions;
wherein the seller bank handles processing of receivables for the plurality of transactions on behalf of the seller.
82. The system of claim 81 wherein the control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:
control logic configured to display to the seller transactions that qualify for SBRD from the seller bank and allow the seller to request SBRD for one or more transactions selected from the qualified transactions; and control logic configured to allow the seller bank to approve the selected one or more transactions for SBRD.
83. The system of claim 82 wherein the control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:
control logic configured to allow the seller bank to identify the transactions that qualify for SBRD before they are displayed to the seller.
84. The system of claim 82 wherein the control logic configured to display includes a graphical user interface configured to display the transactions that qualify for SBRD to the seller.
85. The system of claim 82 wherein the control logic configured to allow the seller bank to approve the selected one or more transactions for SBRD
includes a graphical user interface configured to allow the seller bank to review and approve the selected one or more transactions for SBRD.
86. The system of claim 82 further comprising:
control logic configured to allow the buyer to request assurance from a buyer bank for one or more transactions; and control logic configured to determine whether to provide assurance to the one or more transactions requested by the buyer and assign a bank-assured status to each transaction for which assurance is to be provided;
wherein the transactions that qualify for SBRD include transactions having the bank-assured status and/or transactions that have been approved by the seller bank for SBRD.
87. The system of claim 82 wherein the control logic configured to allow the seller bank to offer seller bank receivable discounting (SBRD) to the seller further comprises:
control logic configured to maintain general terms and conditions provided by the seller bank for SBRD, wherein the general terms and conditions can be modified by the seller bank;
control logic configured to allow the seller bank to specify terms and conditions corresponding to each of the approved transactions for SBRD; and control logic configured to present to the seller for acceptance the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for SBRD.
88. The system of claim 81 further comprising:
control logic configured to inform the seller of a seller bank SBRD offer; and control logic configured to allow the seller to accept or reject the seller bank SBRD offer.
89. The system of claim 88 further comprising:
control logic configured to present a formal agreement to the seller upon the seller accepting the seller bank SBRD offer.
90. A system for providing receivable discounting services, comprising:
a plurality of buyers;
a plurality of sellers;
a plurality of buyer banks handling payable processing for the plurality of buyers; and a transaction processing system configured to:

monitor a plurality of transactions conducted between the plurality of buyers and the plurality of sellers, wherein for each transaction, a payment is owed by a buyer to a seller; and allow the plurality of seller banks to offer seller bank receivable discounting (SBRD) to one or more of the plurality of sellers using information collected from monitoring the plurality of transactions.
91. The system of claim 90 wherein the transaction processing system is further configured to:
display to one or more of the plurality of sellers respectively transactions that qualify for SBRD from one or more of the plurality of seller banks;
allow the one or more of the plurality of sellers to request SBRD for one or more transactions selected from the qualified transactions, wherein a seller is only able to request SBRD from a seller bank if that seller bank has one or more receivables from corresponding transactions belonging to the seller; and allow the one or more of the plurality of seller banks to approve the selected one or more transactions for SBRD.
92. The system of claim 91 wherein the transaction processing system is further configured to:
allow the plurality of seller banks to identify the transactions that qualify for SBRD before they are displayed to the one or more of the plurality of sellers.
93. The system of claim 91 wherein the transaction processing system is further configured to:
inform a seller bank of a transaction that potentially qualifies for SBRD when that transaction is assigned a bank-assured status, wherein the seller bank is in charge of handling a receivable pertaining to that transaction.
94. The system of claim 91 wherein the transactions that qualify for SBRD
include transactions having a bank-assured status and/or transactions that have been approved respectively by the one or more of the plurality of seller banks for SBRD.
95. The system of claim 91 wherein the transaction processing system is further configured to:

maintain general terms and conditions provided respectively by one or more of the plurality of seller banks for SBRD, wherein the general terms and conditions can be modified by the one or more of the plurality of seller banks;
allow one or more of the plurality of seller banks to specify respectively terms and conditions corresponding to each of the approved transactions for SBRD;
and present to one or more of the plurality of sellers for acceptance respectively the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for SBRD.
96. The system of claim 90 wherein the transaction processing system further comprises:
control logic configured to inform one or more of the plurality of sellers respectively of one or more seller bank SBRD offers; and control logic configured to allow the one or more of the plurality of sellers to respectively accept or reject the one or more seller bank SBRD offers.
97. The system of claim 96 wherein the transaction processing system further comprises:
control logic configured to respectively present formal agreements to one or more sellers upon their accepting their respective seller bank SBRD offers.
98. A transaction processing system comprising:
control logic configured to collect receivable information relating to a plurality of transactions between a plurality of buyers and a plurality of sellers, wherein the receivable information includes information relating to receivables due to be received by a plurality of seller banks on behalf of the plurality of sellers; and control logic configured to allow the plurality of seller banks to utilize the collected receivable information to offer seller bank receivable discounting (SBRD) to the plurality of sellers respectively.
99. The transaction processing system of claim 98 further comprising:
control logic configured to display one or more SBRD-qualified transactions to a seller, wherein the one or more SBRD-qualified transactions are selected from the plurality of transactions and the one or more SBRD-qualified transactions are transactions having receivables belonging to the seller;

control logic configured to allow the seller to request SBRD for one or more transactions selected from the one or more SBRD-qualified transactions;
control logic configured to display the one or more selected transactions respectively to one or more seller banks, wherein the one or more seller banks are in charge of receiving payments on the one or more selected transactions respectively on behalf of the seller; and control logic configured to allow the one or more seller banks to review and approve respectively the one or more selected transactions.
100. The transaction processing system of claim 99 further comprising:
control logic configured to allow the one or more seller banks to respectively identify the one or more SBRD-qualified transactions before the one or more SBRD-qualified transactions are displayed to the seller.
101. The transaction processing system of claim 99 further comprising:
control logic configured to inform the one or more seller banks of transactions that potentially qualify for SBRD when those transactions are assigned a bank-assured status, wherein the one or more seller banks are in charge of respectively handling receivables pertaining to those transactions.
102. The transaction processing system of claim 99 wherein the one or more SBRD-qualified transactions include transactions having a bank-assured status and/or transactions that have been approved respectively by the one or more seller banks for SBRD.
103. The transaction processing system of claim 99 further comprising:
control logic configured to maintain general terms and conditions provided respectively by the one or more seller banks, wherein the general terms and conditions can be modified by the one or more seller banks; and control logic configured to allow the one or more seller banks to respectively specify terms and conditions tailored to one or more approved transactions for SBRD.
104. The transaction processing system of claim 103 further comprising:
control logic configured to respectively present to the seller for acceptance the one or more approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to the one or more approved transactions.
105. The transaction processing system of claim 99 further comprising:
control logic configured to inform the seller of one or more seller bank SBRD
offers made respectively by the one or more seller banks; and control logic configured to allow the seller to accept or reject the one or more seller bank SBRD offers.
106. The transaction processing system of claim 105 further comprising:
control logic configured to present a formal agreement to the seller upon the seller accepting one of the one or more seller bank SBRD offers.
107. A system for providing payable discounting services, comprising:
control logic configured to monitor a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller; and control logic configured to allow a buyer bank to offer buyer bank payable discounting (BBPD) to the seller using information collected from monitoring the plurality of transactions;
wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer.
108. The system of claim 107 wherein the control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises:
control logic configured to display to the seller transactions that qualify for BBPD from the buyer bank and allow the seller to request BBPD for one or more transactions selected from the qualified transactions; and control logic configured to allow the buyer bank to approve the selected one or more transactions for BBPD.
109. The system of claim 108 wherein the control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises:
control logic configured to allow the buyer bank to identify the transactions that qualify for BBPD before they are displayed to the seller.
110. The system of claim 108 wherein the control logic configured to display includes a graphical user interface configured to display the transactions that qualify for BBPD to the seller.
111. The system of claim 108 wherein the control logic configured to allow the buyer bank to approve the selected one or more transactions for BBPD
includes a graphical user interface configured to allow the buyer bank to review and approve the selected one or more transactions for BBPD.
112. The system of claim 108 further comprising:
control logic configured to allow the buyer to request assurance from the buyer bank for one or more transactions; and control logic configured to determine whether to provide assurance to the one or more transactions requested by the buyer and assign a bank-assured status to each transaction for which assurance is to be provided;
wherein the transactions that qualify for BBPD include transactions having the bank-assured status and/or transactions that have been approved by the buyer bank for BBPD.
113. The system of claim 108 wherein the control logic configured to allow the buyer bank to offer buyer bank payable discounting (BBPD) to the seller further comprises:
control logic configured to maintain general terms and conditions provided by the buyer bank for BBPD, wherein the general terms and conditions can be modified by the buyer bank;
control logic configured to allow the buyer bank to specify terms and conditions corresponding to each of the approved transactions for BBPD; and control logic configured to present to the seller for acceptance the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for BBPD.
114. The system of claim 107 further comprising:
control logic configured to inform the seller of a buyer bank BBPD offer; and control logic configured to allow the seller to accept or reject the buyer bank BBPD offer.
115. The system of claim 114 further comprising:
control logic configured to present a formal agreement to the seller upon the seller accepting the buyer bank BBPD offer.
116. A system for providing payable discounting services, comprising:
a plurality of buyers;
a plurality of sellers;
a plurality of buyer banks handling payable processing for the plurality of buyers; and a transaction processing system configured to:
monitor a plurality of transactions conducted between the plurality of buyers and the plurality of sellers, wherein for each transaction, a payment is owed by a buyer to a seller; and allow the plurality of buyer banks to offer buyer bank payable discounting (BBPD) to one or more of the plurality of sellers using information collected from monitoring the plurality of transactions.
117. The system of claim 116 wherein the transaction processing system is further configured to:
display to one or more of the plurality of sellers respectively transactions that qualify for BBPD from one or more of the plurality of buyer banks;
allow the one or more of the plurality of sellers to request BBPD for one or more transactions selected from the qualified transactions, wherein a seller is only able to request BBPD from a buyer bank if that buyer bank has one or more payables from corresponding transactions owed to the seller; and allow the one or more of the plurality of buyer banks to approve the selected one or more transactions for BBPD.
118. The system of claim 117 wherein the transaction processing system is further configured to:
allow the plurality of buyer banks to identify the transactions that qualify for BBPD before they are displayed to the one or more of the plurality of sellers.
119. The system of claim 117 wherein the transactions that qualify for BBPD include transactions having a bank-assured status and/or transactions that have been approved respectively by the one or more of the plurality of buyer banks for BBPD.
120. The system of claim 117 wherein the transaction processing system is further configured to:
maintain general terms and conditions provided respectively by one or more of the plurality of buyer banks for BBPD, wherein the general terms and conditions can be modified by the one or more of the plurality of buyer banks;
allow one or more of the plurality of buyer banks to specify respectively terms and conditions corresponding to each of the approved transactions for BBPD;
and present to one or more of the plurality of sellers for acceptance respectively the approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to each of the approved transactions for BBPD.
121. The system of claim 116 wherein the transaction processing system further comprises:
control logic configured to inform one or more of the plurality of sellers respectively of one or more buyer bank BBPD offers; and control logic configured to allow the one or more of the plurality of sellers to respectively accept or reject the one or more buyer bank BBPD offers.
122. The system of claim 121 wherein the transaction processing system further comprises:
control logic configured to respectively present formal agreements to one or more sellers upon their accepting their respective buyer bank BBPD offers.
123. A transaction processing system comprising:
control logic configured to collect payable information relating to a plurality of transactions between a plurality of buyers and a plurality of sellers, wherein the payable information includes information relating to payables due to be paid out by a plurality of buyer banks to the plurality of sellers on behalf of the plurality of buyers;
and control logic configured to allow the plurality of buyer banks to utilize the collected payable information to offer buyer bank payable discounting (BBPD) to the plurality of sellers respectively.
124. The transaction processing system of claim 123 further comprising:
control logic configured to display one or more BBPD-qualified transactions to a seller, wherein the one or more BBPD-qualified transactions are selected from the plurality of transactions and the one or more BBPD-qualified transactions are transactions having payables owed to the seller;
control logic configured to allow the seller to request BBPD for one or more transactions selected from the one or more BBPD-qualified transactions;
control logic configured to display the one or more selected transactions respectively to one or more buyer banks, wherein the one or more buyer banks are in charge of making payments on the one or more selected transactions respectively on behalf of the corresponding buyers; and control logic configured to allow the one or more buyer banks to review and approve respectively the one or more selected transactions.
125. The transaction processing system of claim 124 further comprising:
control logic configured to allow the one or more buyer banks to respectively identify the one or more BBPD-qualified transactions before the one or more BBPD-qualified transactions are displayed to the seller.
126. The transaction processing system of claim 124 wherein the one or more BBPD-qualified transactions include transactions having a bank-assured status and/or transactions that have been approved respectively by the one or more buyer banks for BBPD.
127. The transaction processing system of claim 124 further comprising:
control logic configured to maintain general terms and conditions provided respectively by the one or more buyer banks, wherein the general terms and conditions can be modified by the one or more buyer banks; and control logic configured to allow the one or more buyer banks to respectively specify terms and conditions tailored to one or more approved transactions for BBPD.
128. The transaction processing system of claim 127 further comprising:
control logic configured to respectively present to the seller for acceptance the one or more approved transactions, the general terms and conditions, and the specified terms and conditions corresponding to the one or more approved transactions.
129. The transaction processing system of claim 124 further comprising:
control logic configured to inform the seller of one or more buyer bank BBPD
offers made respectively by the one or more buyer banks; and control logic configured to allow the seller to accept or reject the one or more buyer bank BBPD offers.
130. The transaction processing system of claim 129 further comprising:
control logic configured to present a formal agreement to the seller upon the seller accepting one of the one or more buyer bank BBPD offers.
131. A system for providing payable discounting aggregation services, comprising:
control logic configured to monitor a plurality of transactions between a buyer and a seller, wherein for each transaction, a payment is owed by the buyer to the seller; and control logic configured to allow a buyer bank to offer buyer bank payable discounting aggregation (BBPDA) to the seller using information collected from monitoring the plurality of transactions;
wherein the buyer bank handles processing of payables for the plurality of transactions on behalf of the buyer.
132. The system of claim 131 wherein the control logic configured to allow the buyer bank to offer buyer bank payable discounting aggregation (BBPDA) to the seller further comprises:
control logic configured to build a tranche based on a set of criteria specified by the buyer bank, wherein the tranche is associated with one or more payables corresponding to one or more of the plurality of transactions; and control logic configured to present the tranche as a line of credit to the seller.
133. The system of claim 132 wherein at least one of the one or more payables is secured.
134. The system of claim 132 wherein at least one of the one or more payables is unsecured.
135. The system of claim 132 further comprising:

control logic configured to maintain terms and conditions relating to the line of credit, wherein the terms and conditions relating to the line of credit are provided by the buyer bank; and control logic configured to present the terms and conditions relating to the line of credit to the seller.
136. The system of claim 135 wherein the terms and conditions relating to the line of credit are modifiable by the buyer bank.
137. The system of claim 132 further comprising:
control logic configured to monitor activities incurred with respect to the tranche.
138. The system of claim 137 further comprising:
control logic configured to modify the tranche in response to the monitored activities.
139. The system of claim 132 further comprising:
control logic configured to allow the seller to issue a BBPDA request; and control logic configured to forward the BBPDA request to the buyer bank;
wherein the set of criteria specified by the buyer bank is based on the BBPDA
request.
140. The system of claim 132 further comprising:
control logic configured to monitor the one or more payables associated with the tranche to ensure that the set of criteria is satisfied.
141. The system of claim 132 further comprising:
control logic configured to allow the buyer bank to specify the set of criteria to be used to build the tranche.
142. The system of claim 141 wherein the control logic configured to allow the buyer bank to specify the set of criteria includes a graphical user interface.
143. The system of claim 132 further comprising:
control logic configured to inform the buyer bank once the tranche has been built according to the set of criteria.
144. The system of claim 143 further comprising:

control logic configured to allow the buyer bank to offer the tranche as a line of credit to the seller.
145. A system for providing payable discounting aggregation services, comprising:
a plurality of buyers;
a plurality of sellers;
a plurality of buyer banks handling payable processing for the plurality of buyers;
a plurality of seller banks handling receivable processing for the plurality of sellers; and a transaction processing system configured to:
monitor a plurality of transactions conducted between the plurality of buyers and the plurality of sellers; and allow one or more buyer banks to offer buyer bank payable discounting aggregation (BBPDA) to one or more of the plurality of sellers respectively using information collected from monitoring the plurality of transactions.
146. The system of claim 145 wherein the transaction processing system is further configured to:
build one or more tranches based respectively on sets of criteria specified by the one or more buyer banks, wherein each tranche is associated with a buyer bank and includes one or more payables corresponding to one or more of the plurality of transactions, the one or more payables being handled by the associated buyer bank; and present the one or more tranches respectively to the one or more of the plurality of sellers as lines of credit.
147. The system of claim 146 wherein at least one of the one or more payables is secured.
148. The system of claim 146 wherein at least one of the one or more payables is unsecured.
149. The system of claim 146 wherein the transaction processing system is further configured to:

maintain terms and conditions relating to the lines of credit, wherein the terms and conditions relating to the lines of credit are provided respectively by the one or more buyer banks; and present the terms and conditions relating to the lines of credit respectively to the one or more of the plurality of sellers.
150. The system of claim 147 wherein the terms and conditions relating to the lines of credit are modifiable by the one or more buyer banks.
151. The system of claim 146 wherein the transaction processing system is further configured to:
monitor activities incurred with respect to the one or more tranches; and modify the one or more tranches in response to the monitored activities.
152. The system of claim 146 wherein the transaction processing system is further configured to:
allow one or more of the plurality of sellers to issue BBPDA requests; and forward the BBPDA requests respectively to one or more buyer banks;
wherein the sets of criteria specified by the one or more buyer banks are based respectively on the BBPDA requests.
153. The system of claim 152 wherein the transaction processing system is further configured to:
identify the one or more buyer banks to which the BBPDA requests are to be forwarded.
154. The system of claim 146 wherein the transaction processing system is further configured to:
monitor the one or more payables in a tranche to ensure that the set of criteria associated with that tranche is satisfied.
155. A transaction processing system comprising:
control logic configured to collect payable information relating to a plurality of transactions between a plurality of buyers and a plurality of sellers, wherein the payable information includes information relating to payables due to be paid out by a plurality of buyer banks to the plurality of sellers on behalf of the plurality of buyers;
and control logic configured to allow the plurality of buyer banks to utilize the collected payable information to offer buyer bank payable discounting aggregation (BBPDA) to the plurality of sellers respectively.
156. The transaction processing system of claim 155 further comprising:
control logic configured to allow a seller to issue a BBPDA request;
control logic configured to identify one or more buyer banks that can potentially fulfill the BBPDA request, wherein the one or more buyer banks are in charge of making payments on one or more transactions respectively on behalf of the corresponding buyers to the seller;
control logic configured to allow the one or more buyer banks to specify respective sets of criteria to build one or more tranches in response to the BBPDA request;
control logic configured to build the one or more tranches using the collected payable information; and control logic configured to allow the one or more buyer banks to respectively present the one or more tranches to the seller as lines of credit.
157. The transaction processing system of claim 156 further comprising:
control logic configured to allow the one or more buyer banks to respectively specify terms and conditions associated with the one or more tranches.
158. The transaction processing system of claim 157 further comprising:
control logic configured to allow the seller to select one of the one or more tranches for use as a line of credit; and control logic configured to display the terms and conditions associated with the tranche selected by the seller.
159. The transaction processing system of claim 155 further comprising:
control logic configured to allow one or more buyer banks to build one or more tranches respectively using the collected payable information.
160. The transaction processing system of claim 159 further comprising:
control logic configured to inform a seller of one or more buyer bank BBPDA
offers made respectively by the one or more buyer banks, wherein each buyer bank BBPDA
offer includes offering a tranche associated with a corresponding buyer bank as a line of credit; and control logic configured to allow the seller to accept or reject the one or more buyer bank BBPDA offers.
161. The transaction processing system of claim 159 further comprising:
control logic configured to allow the one or more buyer banks to specify respectively sets of criteria to be used to build the one or more tranches.
162. The transaction processing system of claim 161 further comprising:
control logic configured to monitor activities with respect to a tranche to ensure that the set of criteria associated with that tranche is satisfied.
163. The transaction processing system of claim 161 further comprising:
control logic configured to modify a tranche to ensure that the set of criteria associated with that tranche is satisfied.
CA002571331A 2004-06-17 2005-06-14 Method and system for providing assurance and financing services Abandoned CA2571331A1 (en)

Applications Claiming Priority (13)

Application Number Priority Date Filing Date Title
US58102104P 2004-06-17 2004-06-17
US60/581,021 2004-06-17
US11/131,679 2005-05-17
US11/132,102 US20050283433A1 (en) 2004-06-17 2005-05-17 Method and system for providing seller bank receivable discounting services
US11/132,067 US8571978B2 (en) 2004-06-17 2005-05-17 Method and system for providing assurance and financing services
US11/131,679 US8566231B2 (en) 2004-06-17 2005-05-17 Method and system for providing buyer bank payable discounting aggregation services
US11/131,605 US8571977B2 (en) 2004-06-17 2005-05-17 Method and system for providing seller bank receivable discounting aggregation services
US11/131,602 US8606697B2 (en) 2004-06-17 2005-05-17 Method and system for providing buyer bank payable discounting services
US11/131,602 2005-05-17
US11/132,102 2005-05-17
US11/132,067 2005-05-17
US11/131,605 2005-05-17
PCT/US2005/021049 WO2006009710A2 (en) 2004-06-17 2005-06-14 Method and system for providing assurance and financing services

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KR (1) KR20070050038A (en)
CA (1) CA2571331A1 (en)
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US8930267B1 (en) 2012-08-27 2015-01-06 Jpmorgan Chase Bank, N.A. Automated transactions clearing system and method

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US6324525B1 (en) * 1996-06-17 2001-11-27 Hewlett-Packard Company Settlement of aggregated electronic transactions over a network
US20040010463A1 (en) * 1996-11-12 2004-01-15 Hahn-Carlson Dean W. Automated transaction processing system and approach
US5903882A (en) * 1996-12-13 1999-05-11 Certco, Llc Reliance server for electronic transaction system
US5970475A (en) * 1997-10-10 1999-10-19 Intelisys Electronic Commerce, Llc Electronic procurement system and method for trading partners
US6108644A (en) * 1998-02-19 2000-08-22 At&T Corp. System and method for electronic transactions
BR0011709A (en) * 1999-06-17 2002-03-19 Mobius Man Systems Inc System and method for electronic statement, presentation and payment of bill
EP1269374A1 (en) * 2000-03-17 2003-01-02 Edward Cooper Greer Electronic transaction clearing system
US20030130959A1 (en) * 2001-02-15 2003-07-10 Walter Rosenbaum Closed loop electronic factoring

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EP1782254A4 (en) 2008-05-07
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WO2006009710A2 (en) 2006-01-26

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Effective date: 20141128