Patent ID: 8880437
Filing Date: 2014-11-04
Classification: G06Q

Abstract:
1. An method for a buyer to pay a seller for a transaction via a bank, comprising: receiving, from a buyer, an initiation document for a transaction with a seller, the buyer having agreed to open account services with the bank; at least one computer processor retrieving a buyer profile for the buyer, the buyer profile comprising requirement information with respect to a trade operation; the at least one computer processor notifying the seller of the initiation document and the requirement information; the at least one computer processor generating at least one trade document required by the trade operation using the requirement information, wherein the at least one trade document comprises at least one of: a sales order, a manufacturing specification sheet, an invoice, shipping instructions, insurance instructions, a draft, a beneficiary certificate, and a transport document, wherein the invoice is generated using a matched sales order; receiving, from the buyer, a payment instruction to the bank to make a payment to the seller for the matched sales order; the at least one computer processor comparing the invoice to the matched sales order in order to determine any discrepancies; the at least one computer processor correcting the invoice if there are any discrepancies, thereby generating a matched invoice; receiving shipping instructions from a shipper via the network; the at least one computer processor comparing the shipping instructions to the matched invoice in order to determine any discrepancies; and informing the shipper of the discrepancies whereby the shipper can correct the discrepancies and provide matched shipping instructions; the at least one computer processor automatically generating shipping insurance instructions based on the matched invoice; and transmitting the shipping insurance instructions to an insurer; receiving a certificate of insurance from the insurer; and the at least one computer processor generating at least one trade document using the certificate of insurance, the matched invoice and the matched shipping instructions.