Patent ID: 7774268
Filing Date: 2010-08-10
Classification: G06K,G06Q

Abstract:
1. A method for verifying compliance with a finance agreement between a first party and a second party, the finance agreement associated with an asset, the method comprising: affixing a self-destructing identification tag to the asset associated with the finance agreement, wherein the first party provides asset financing and the second party is permitted to sell the asset associated with the finance agreement; notifying the second party to perform a self-audit of the asset, wherein the notifying is performed by fax, e-mail, instant message, phone, or pager; the second party reading said self-destructing identification tag using a machine configured to read encrypted data from said self-destructing identification tag; generating audit information, the audit information being at least partially based on the encrypted data; the second party sending audit information based on the encrypted data to the first party, wherein the sending is performed by voice, fax, e-mail, or instant message; analyzing the audit information to determine whether the second party is complying or not complying with the finance agreement based on the audit information; and wherein the step of analyzing the audit information is performed by a server programmed to analyze the audit information and determine whether the second party is complying or not complying with the finance agreement based on the audit information.