Trade receivable processing method and apparatus
AssigneeJPMorgan Chase Bank, N.A.
InventorJohn J. Loy
Life of this patent
Estimating the term…
Abstract
A processing method and apparatus is provided, such as a clearinghouse, for tracking receivable and payable information, matching, negotiating, trading, providing working capital financing, and settling payments for accounts payable and accounts receivable between trading partners and finance providers.
Claims25
A method of utilizing a computer network based receivable clearinghouse for facilitating a transaction involving a receivable and corresponding invoice having payable and receivable information, the method comprising the steps of:
- receiving data comprising the invoice with the payable and the receivable information from a first participant involved in the transaction;
- storing the receivable information in the receivable clearinghouse;
- generating electronic invoice information in response to the invoice received from the first participant;
- transmitting the electronic invoice information on behalf of the first participant to a second participant, the electronic invoice including one or more payment terms wherein one term requires payment of the receivable be sent to the receivable clearinghouse;
- receiving a payment from the second participant;
- recording receipt of the payment in the receivable clearinghouse;
- and,
- crediting the receipt of the payment to the first participant.
A method of utilizing a computer network based receivable clearinghouse for facilitating delivery of invoice information, reflecting a receivable, between a first party and a second party, the first party being a full participant of the receivable clearinghouse, the method comprising the steps of:
- receiving the invoice information from the full participant;
- storing the invoice information in the receivable clearinghouse;
- generating payable information in response to the invoice information received from the full participant;
- transmitting the payable information to the second party as an electronic invoice including one or more payment terms wherein one term requires payment of the receivable represented by the electronic invoice be settled through the receivable clearinghouse;
- receiving payments related to the receivable and related invoice;
- and,
- recording receipt of the payment in the receivable clearinghouse.
A method comprising the steps of:
- providing a computer network based clearinghouse for trade account receivable and payable adjusting, payment term agreements, and a payment mechanism;
- and
- providing a forum within the clearinghouse that allows a receivable owner sponsor, on behalf of a receivable owner, to sell a receivable debtor obligation to other participants under clearinghouse rules and obligations agreed to by all participants.
A computer network based receivable clearinghouse for facilitating a transaction involving a participant and an invoice, the invoice including payable and receivable information, the computer network based receivable clearing house comprising:
- a data repository for holding the invoice information submitted by the participant, the data repository being accessible to a financial institution of the participant under clearinghouse rules and obligations agreed to by all participants;
- a fund settlement apparatus for settling discrepancies involved with the invoice, the fund settlement apparatus being operably connected to the data repository wherein daily cash settlements between the clearinghouse and the participant occur;
- a data management and reporting apparatus for compiling data received from the participant and for reporting data summarized to the participant, including financial participants, the data management and reporting apparatus being operably connected to the data repository;
- and,
- a receivable trading apparatus for interacting with a receivable marketplace wherein the receivable represented by the invoice information can be offered for sale to other participants of the receivable clearinghouse, the receivable trading apparatus being operably connected to the data repository.
An apparatus comprising:
- a computer network based clearinghouse for trade account receivable invoicing, adjusting, payment term agreements, and a payment mechanism;
- and
- a forum within the clearinghouse that allows a receivable owner sponsor to sell a receivable debtor obligation to other participants of the clearinghouse.
Dependencies are inferred from the claim text.