Patent ID: 7366698
Filing Date: 2008-04-29
Classification: G06Q

Abstract:
1. 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; 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; offering the receivable for sale to multiple third parties over a receivable marketplace associated with the receivable clearinghouse, the receivable marketplace being accessed by a receivable trading apparatus; matching a payment with the receivable in the receivable clearinghouse; reconciling the payment and the receivable in the receivable clearinghouse; and storing particulars of the transaction in a registry associated with the receivable clearinghouse.