Patent ID: 7835970

Claim:
An automated auction and tender system for effecting electronic transactions between a tender initiator and a tender recipient, comprising: a storage device for storing information regarding at least one tender of a multi-variable commodity, wherein the at least one tender having at least one term; a processing device for generating the at least one tender, wherein the at least one tender is created by the tender initiator, and wherein the at least one tender includes an authorization to receive a request to change the at least one term of the multi-variable commodity, the request being submitted by the tender recipient; a communication network for transmitting information, corresponding to the at least one tender, to the tender recipient, the communication network further configured for receiving the request from the tender recipient to change the at least one term of the at least one tender, wherein the at least one term is changed to create an amended tender in response to receiving the request, wherein the amended tender includes the at least one term and a changed term, wherein the amended tender is created upon accepting the request to change the at least one term received from the tender recipient, wherein the at least one term of the at least one tender that is changed relates to a physical characteristic of the complex multi-variable commodity.