Patent ID: 6148293
Filing Date: 2000-11-14
Classification: G06Q

Abstract:
A computer-based system employing operatively interconnected data processing and computing means for creating, servicing and paying in financial contracts having terms and conditions which provide repayment of monies tendered by one entity to another on a date or dates in the future, along with periodically provided compensation thereon, said system comprising:means for inputting and storing into at least one electronic database, which includes one or more accounts, the negotiated terms and conditions of a financial contract with an identified lender which provides for the level of compensation thereon to be adjusted periodically to produce a rate of compensation tied to an external benchmark, allowing the issuing entity to establish a lower rate of compensation in any period in which its solvency or deteriorating credit quality, including with respect to the business activity to which the contract relates, is otherwise threatened in exchange for establishment of a higher rate of compensation during periods in which the results of a formula computation exceed certain pre-agreed levels; andmeans accessible to at least one electronic database for issuing and displaying the financial contract and terms thereof with constraints comprising the agreed terms and conditions.