WO1999042938A2 - Programme de financement de commerce de gros (wfp) - Google Patents

Programme de financement de commerce de gros (wfp) Download PDF

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Publication number
WO1999042938A2
WO1999042938A2 PCT/AU1999/000121 AU9900121W WO9942938A2 WO 1999042938 A2 WO1999042938 A2 WO 1999042938A2 AU 9900121 W AU9900121 W AU 9900121W WO 9942938 A2 WO9942938 A2 WO 9942938A2
Authority
WO
WIPO (PCT)
Prior art keywords
wholesaler
bank
retailer
credit
wfp
Prior art date
Application number
PCT/AU1999/000121
Other languages
English (en)
Other versions
WO1999042938A3 (fr
Inventor
John George Taubenschlag
Original Assignee
John George Taubenschlag
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by John George Taubenschlag filed Critical John George Taubenschlag
Priority to EP99908678A priority Critical patent/EP1064609A4/fr
Priority to AU28194/99A priority patent/AU2819499A/en
Publication of WO1999042938A2 publication Critical patent/WO1999042938A2/fr
Publication of WO1999042938A3 publication Critical patent/WO1999042938A3/fr

Links

Classifications

    • 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
    • G06Q30/00—Commerce
    • G06Q30/06—Buying, selling or leasing transactions

Definitions

  • This invention relates to a process using a processing device, being a hardware and software driven inter-connected computer network using computerized communication links as described in Figure 1 by the data flow arrows marked 1 through 24, for the financing of wholesale trading.
  • a processing device being a hardware and software driven inter-connected computer network using computerized communication links as described in Figure 1 by the data flow arrows marked 1 through 24, for the financing of wholesale trading.
  • WFP Wholesale Financing Program
  • the Wholesaler obtains an Irrevocable Purchase Order from a retail client.
  • the Retailer whom is offered the option to apply for a Credit Account proceeds to furnish and to submit a Credit Application, which includes permission for a Bank nominated by the WFP Service Provider to check the applicant's credit worthiness.
  • a Credit Application which includes permission for a Bank nominated by the WFP Service Provider to check the applicant's credit worthiness.
  • the WFP service provider's Banker being satisfied that the Retailer is worthy to be granted credit, it offers to the Retailer an Insured Unsecured Irrevocable Assignable Bank Guarantee for the amount of the ordered stock from the wholesaler.
  • This financial instrument is payable to the Wholesaler on presentation, but is to be withheld by the Bank at the request of the wholesaler, as a collateral security for the issuing of the Letters of Credit if so required by the wholesaler to purchase the ordered stock from either local or overseas Suppliers.
  • the stock is freighted fully insured, is processed at the wholesaler's warehouse and subsequently delivered and invoiced to the Retailer.
  • the retailer may choose to have the Bank Guarantee cancelled and returned to the issuing Bank or to maintain it operative to support further purchases.
  • the wholesaler may exercise its option to cash the Bank Guarantee.
  • the Bank will then claim the paid amount to the wholesaler from the WFP Service Provider's nominated Insurer, which results in the Bank being fully reimbursed.
  • the Insurer reserves its right of recovery from the Retailer, and to report the defaulting retailer to a credit record bureau or mercantile agency.
  • the Wholesaler (2) Upon the Wholesaler (1) obtaining from the Retailer an irrevocable purchase order, the Wholesaler (2) offers to the Retailer the option to apply for a credit account to pay for the ordered inventories.
  • the Retailer (3) furnishes and submits to the WFP Service Provider a credit application, authorising (4) the WFP Service Provider and (4A) the nominated WFP banker to check its credit worthiness and to issue on its behalf an insured unsecured irrevocable, assignable guarantee in favour of the Wholesaler.
  • the nominated bank Once the nominated bank is satisfied that the Retailer's credit is in order, it approves the application and sends it (5) via the WFP Service Provider (6) to the WFP Service Provider's Insurer, seeking the issue of the insurance cover for the bank guarantee.
  • the insurer (7) Upon approval being granted, the insurer (7) issues the policy in favour of the bank and (8) reports the event to the WFP Service Provider.
  • the bank issues the insured unsecured irrevocable assignable bank guarantee on behalf of the Retailer, in favour of the Wholesaler and (9) informs the WFP Service Provider, whom in turn (10) informs the Wholesaler that the sale of inventories transaction to the Retailer is fully guaranteed by effect of an insured, unsecured, irrevocable, assignable bank guarantee.
  • the Wholesaler then may exercise its option to raise unsecured working capital by requesting the bank (11) via the WFP Service Provider, to withhold the insured unsecured irrevocable assignable bank guarantee(s) as security for an advance by means of a letter of credit issued in favour of the Inventories Supplier (12) via the Supplier's banker, in order to procure the inventories purchased by the Retailer.
  • the Supplier's bank informs the Supplier (13) that upon delivery of the ordered stock by the Wholesaler, payment of the L/C will be made effective.
  • the Supplier delivers the inventories to the Wholesaler, (15) who then delivers and invoices the Retailer.
  • the Retailer pays the Wholesaler as agreed.
  • the Wholesaler pays to the bank the advance made to it by means of the L/C.
  • the Retailer having chosen not to cancel the bank guarantee but to keep it floating, issues a new irrevocable purchase order and a new identical trading cycle repeats the one described in Fig #1 by steps (1) to (17).
  • the Retailer if the Retailer defaults payment of its obligation to the Wholesaler, then (19) the Wholesaler exercises its option to cash the irrevocable bank guarantee, pays to the bank the outstanding debt represented by moneys advanced by means of the L/C if any, and keeps the balance. (20) The bank claims on the insurance policy covering the insured unsecured irrevocable assignable bank guarantee.
  • the service provider's insurer (21) assigns to the Wholesaler the duty of (22) judicial recovery from the Retailer, and instructs the WFP Service Provider (23) to report to a mercantile agency the default incurred by the Retailer.
  • the wholesaler reimburses the WFP service provider's insurer.

Landscapes

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

Abstract

Cette invention se rapporte à un service financier se présentant sous la forme d'un programme de financement de commerce de gros (WFP) coordonné par un fournisseur de services et utilisant à cet effet un dispositif de traitement pour le financement du commerce de gros par l'intermédiaire d'un classement déterminé d'instruments financiers connus et acceptés internationalement, qui élimine le risque financier associé au commerce de gros sur une base de crédits traditionnels non garantis, tout en créant simultanément une alternative par laquelle des capitaux de roulement non garantis peuvent être empruntés localement à faible coût, sans risque, tout en maintenant le contrôle sur la partie de capital propre.
PCT/AU1999/000121 1998-02-23 1999-02-23 Programme de financement de commerce de gros (wfp) WO1999042938A2 (fr)

Priority Applications (2)

Application Number Priority Date Filing Date Title
EP99908678A EP1064609A4 (fr) 1998-02-23 1999-02-23 Programme de financement de commerce de gros (wfp)
AU28194/99A AU2819499A (en) 1998-02-23 1999-02-23 Wholesale financing program (wfp)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
AUPP1960 1998-02-23
AUPP1960A AUPP196098A0 (en) 1998-02-23 1998-02-23 Wholesale financing program (wfp)

Publications (2)

Publication Number Publication Date
WO1999042938A2 true WO1999042938A2 (fr) 1999-08-26
WO1999042938A3 WO1999042938A3 (fr) 1999-09-10

Family

ID=3806228

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/AU1999/000121 WO1999042938A2 (fr) 1998-02-23 1999-02-23 Programme de financement de commerce de gros (wfp)

Country Status (3)

Country Link
EP (1) EP1064609A4 (fr)
AU (1) AUPP196098A0 (fr)
WO (1) WO1999042938A2 (fr)

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
CN114549020A (zh) * 2022-02-11 2022-05-27 中国科学技术大学 一种基于电子零售平台的供应链担保融资系统

Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5402336A (en) * 1993-01-15 1995-03-28 Ss&D Corporation System and method for allocating resources of a retailer among multiple wholesalers
AU2249797A (en) * 1996-02-09 1997-08-28 Citibank, N.A. Invoice purchase order system
US5704045A (en) * 1995-01-09 1997-12-30 King; Douglas L. System and method of risk transfer and risk diversification including means to assure with assurance of timely payment and segregation of the interests of capital

Patent Citations (3)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US5402336A (en) * 1993-01-15 1995-03-28 Ss&D Corporation System and method for allocating resources of a retailer among multiple wholesalers
US5704045A (en) * 1995-01-09 1997-12-30 King; Douglas L. System and method of risk transfer and risk diversification including means to assure with assurance of timely payment and segregation of the interests of capital
AU2249797A (en) * 1996-02-09 1997-08-28 Citibank, N.A. Invoice purchase order system

Non-Patent Citations (1)

* Cited by examiner, † Cited by third party
Title
See also references of EP1064609A2 *

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
CN114549020A (zh) * 2022-02-11 2022-05-27 中国科学技术大学 一种基于电子零售平台的供应链担保融资系统

Also Published As

Publication number Publication date
WO1999042938A3 (fr) 1999-09-10
EP1064609A2 (fr) 2001-01-03
EP1064609A4 (fr) 2005-05-04
AUPP196098A0 (en) 1998-03-19

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