Patent ID: 7680735
Filing Date: 2010-03-16
Classification: G06Q

Abstract:
1. A method of utilizing a computer network based receivable clearinghouse for facilitating a transaction involving a at least one receivable and corresponding invoice having payable and receivable information, the method comprising the steps of: receiving data comprising the at least one invoice with the payable and the receivable information from a first plurality of participants involved in the transaction; generating electronic invoice information in response to the at least one invoice received from the first plurality of participants; transmitting the electronic invoice information on behalf of the first plurality of participants to a second plurality of participants, the electronic invoice including one or more payment terms wherein at least 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.