Patent ID: 8108296

Claim:
A computer-implemented method for varying electronic settlements between a buyer entity and a supplier entity, said method comprising the steps of: transmitting an electronic request for payment from a seller system associated with said supplier entity, said seller system comprised of at least one programmed computer having predefined logic configured to process a plurality of payment-related negotiations on behalf of said supplier entity, wherein said electronic request for payment is for a transaction having established terms previously agreed to by both said supplier entity and said buyer entity; receiving said electronic request for payment at a payer system associated with said buyer entity, said payer system comprised of at least one programmed computer having predefined logic configured to process a plurality of payment-related negotiations on behalf of said buyer entity; enabling an exchange of electronic messages between said buyer entity and said supplier entity using a global database configured to communicate account information associated with a plurality of systems configured to conduct transactions on behalf of buyer entities and supplier entities, said exchange being facilitated automatically by said computer logic of said seller system coupled to said computer logic of said payer system, and said exchange of electronic messages comprising at least one request for an offer initiated in response to said electronic request for payment, wherein said request for an offer sets out new terms for said transaction to provide for at least one proposal for a discounted payment amount, said new terms representing a variation of said established terms of said transaction; determining whether said new terms satisfy predefined criteria of said computer logic of said seller system and said computer logic of said payer system; establishing new terms for effecting payment upon confirming acceptance of the same by said computer logic of said seller system and said computer logic of said payer system, wherein said new terms comprise at least said discounted payment amount to be made within a specified time period after occurrence of an event associated with said transaction; receiving an electronic notification at said computer logic of said payer system verifying that said event associated with said transaction has occurred; and effecting payment from said buyer entity to said supplier entity in accordance with said new terms, from said computer logic of said payer system to said computer logic of said seller system, after receipt of said electronic notification.