Patent ID: 7546272
Filing Date: 2009-06-09
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; storing the receivable information in the receivable clearinghouse; 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 modifiable payment terms wherein one term requires payment of the receivable be sent to the receivable clearinghouse; offering the receivable corresponding to the invoice for sale to multiple third party participants over a receivable marketplace associated with the receivable clearinghouse, the receivable marketplace being accessed by a receivable trading apparatus; receiving a payment from the second participant; matching the payment from the second participant with a receivable in the receivable marketplace; recording receipt of the payment in the receivable clearinghouse; reconciling the payment and the receivable in the receivable marketplace; and crediting the receipt of the payment to the first participant.