Trade finance automation system
AssigneeExport Finance Systems, Inc.
InventorsRobert Martin, John Olsen
Life of this patent
Estimating the term…
Abstract
A trade finance automation system includes an accounts receivable database receiving and storing invoices issued by one or more prescribed vendors for sales made to specified buyers. A credit limits database contains various credit limits applicable to buyers invoices that are subject to existing third party financing, the credit limits dictated by factors including terms of said third party financing. A credit limits tester performs substantially real time checking of buyers invoices in the accounts receivable database to ensure compliance with the credit limits set forth in the credit limits database for said buyers.
Claims8
A client/server multi-user trade finance system comprising:
- a vendor/buyer/manufacturer/trader/exporter information database, a credit limits information database, an accounts receivable payments and adjustments input system, an eligible invoice filter, a remittances manager, and a report generator;
- wherein one or more components of the trade finance system are programmed to perform operations comprising:
- responsive to a vendor/buyer entering accounts-based financing arrangement with a finance intermediary, providing real-time rule-checking of invoices according to predetermined rules pertaining to at least one of the following:
- financing specific limits, buyer limits, country limits;
- responsive to collections being received, freeing credit capacity for particular policies, buyers, and destination countries;
- transmitting representative remittances to said financial entities.
A trade finance automation process, comprising:
- operating an accounts receivable database to receive and store invoices issued by one or more prescribed vendors for sales made to specified buyers;
- maintaining a credit limits database containing various credit limits applicable to buyers invoices that are subject to existing third party financing, the credit limits dictated by factors including terms of said third party financing;
- performing substantially real time checking of buyers invoices in the accounts receivable database to ensure compliance with the credit limits set forth in the credit limits database for said buyers.
Dependencies are inferred from the claim text.