Patent ID: 6990467
Filing Date: 2006-01-24
Classification: G06Q

Abstract:
1. An interactive electronic cargo option exchange for cargo service providers to mange cargo freight fees between registered users and cargo service providers by electronically determining the price for cargo option and for existing cargo option to be sold, bought and settled comprising: a central controller including a CPU, database and a memory operatively connected to said CPU; at least one service provider's cargo system including a CPU and a memory operatively connected to said CPU, said cargo system adapted for communicating with said central controller over a network; said memory in said cargo system containing a program means for calculating, selecting, and responding adapted to be executed by said cargo system's CPU; a plurality of terminal devices, adapted for communicating with said central controller, for transmitting to said central controller user cargo shipping information comprising at least: remaining payment, destination of cargo, arrival date of cargo, flexibility of arrival date, type of cargo, departure date, departure location and route criteria over a network; wherein said cargo system calculating means uses at least, remaining payment, time period to provide service, current cargo service cost for a selected route to determine the base price, calculating standard deviation of cargo service price; wherein said cargo system selecting means uses at least, destination of cargo, arrival date of cargo, flexibility of arrival date, type of cargo, departure date, departure location, weather conditions, loading capacity, demand for this type of cargo space, timing issues, cargo price and route criteria to determine availability of service; if service is available said cargo system responding means to provide cargo pricing information to central controller; said memory in said central controller containing a program to calculate cargo option price, adapted to be executed by said CPU in response to cargo pricing information from cargo system; wherein said central controller receives said user shipping information criteria from said terminal and query at least one service provider's cargo system over a network; wherein said central controller is connected to a database comprising users account information, including past transaction records of any sale and purchase of cargo option, cargo prices, user personal details including banking accounts, transaction amounts, type of cargo, transporter, departure destination, arrival destination, said accounts are protected by passwords and login sequence; and said central controller having searching means to match and rank existing cargo options set by user, means to display with a graphic user interface and means to receive a user request input via said terminal an offer for sale or buy cargo option, and means to receive cargo system request which are posted for a predetermined period accessible online to other users, in said exchange.