Patent ID: 8065231

Claim:
A method of utilizing a computer network based receivable clearinghouse for facilitating a transaction involving at least one receivable, the method comprising: receiving data electronically, over a computer based network, comprising receivable information from a first participant, wherein the receivable information corresponds to at least one receivable; transmitting the data, over the computer based network, from the first participant to multiple third parties, the data comprising one or more payment terms, which are configured by the first participant; offering the at least one receivable for sale to the multiple third parties over a receivable marketplace associated with a receivable clearinghouse; receiving a payment offer for the at least one receivable from at least one of the multiple third parties through the receivable marketplace; transferring an amount of the payment offer to the first participant, wherein the amount is debited against the at least one of the multiple third parties who made the offer and the amount is credited to the first participant upon acceptance of the payment offer; and storing particulars of the payment electronically in a registry associated with the receivable clearinghouse.