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OwnerBenson Lam, Chee Ng +7inventors
InventorsBenson Lam, Chee Ng, Gregory Yu, Andrew Trossman, Teck Yong, Katherine Yaphe, Pierre Schuurmans, Florin Mihaila, Nicolae Vintila
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Presented is a system and method for determining a total cost of a foreign originating product in a customer's local currency. The system allows a customer to shop via electronic methods regardless of a merchant's location country and receive the total final cost of the product in the customer's local currency. Currency exchange, duties and tariffs, taxes and shipping are included in the given total cost of the product. The system also includes a duty estimation system for estimating duty charges prior to a product crossing an international border is disclosed. The product is categorized according to product categories set by each country. Based on the most frequent countries of origin of that particular product category and duty charges for these countries, a weighted average duty rate is determined and applied to the local currency value for duty cost of the product
An international shopping system in communication with an electronic commerce system operating in a first currency and offering a product for purchase, the international shopping system providing a cost in a second currency for the product to be imported into a destination country, the international shopping system comprising:
A method for providing a cost in a second currency of a product being imported into a destination country, the product being offered for sale by an electronic commerce system operating in a first currency, the method comprising:
A computer readable medium having stored thereon computer-executable instructions for providing a cost in a second currency of a product being imported into a destination country, the product being offered for sale by an electronic commerce system operating in a first currency, the computer-executable instructions performing the steps comprising:
Dependencies are inferred from the claim text.