Purchase Order Amendment and Negotiation in a Full Service Trade System

Abstract

The present invention provides a comprehensive, integrated, computerized system for facilitating transactions in goods or services. The system is capable of facilitating transactions from early or initial stages, such as an electronically proposed purchase order, through to later or final stages, such as payment on an invoice or invoices relating to the transaction. The system is integrated to include the participation of various providers of services ancillary to transactions, such as guarantors, insurers, and shippers. The system may allow sellers or buyers to electronically propose amendments and counter-amendments to, and to amend, through mutual agreement, a purchase order agreement. Any amendments are accounted for in later stages of the transaction facilitated by the system. The system may monitor, utilizing stored transaction information, present and anticipated future credit exposures of buyers, and utilizes the buyer credit exposure information for purposes including facilitating providing buyer credit assurance to sellers. The system may facilitate sellers obtaining financing or advance payment relating to transactions. The system may provide opportunities for sellers or buyers to obtain cargo insurance on goods or services shipped in accordance with transactions.

1 . A computerized system for facilitating transactions in goods or services, the system comprising:
 means for allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and for electronically storing the purchase order agreement;   means for allowing electronic modification of the purchase order agreement upon agreement by the seller and the buyer to the modification;   means for receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller's obligations as defined by the purchase order agreement as modified by any modifications; and   means for electronically evaluating whether the seller has complied with the seller's obligations as defined by the purchase order agreement as modified by any modifications.   
     
     
         2 . The system of  claim 1 , wherein the means for allowing electronic modification of the purchase order agreement comprises means for allowing electronic negotiation between the seller and the buyer relating to the modification. 
     
     
         3 . The system of  claim 2 , wherein the means for allowing electronic negotiation comprises:
 means for allowing a first one of the seller and the buyer to communicate to a second one of the seller and the buyer one or more first proposed modifications to one or more terms of the purchase order agreement; and   means for allowing the second one of the seller and the buyer to communicate to the first one of the seller and the buyer an action selected from the group of accepting the first proposed modifications, declining the first proposed modifications, and communicating to the first one of the buyer and the seller one or more second proposed modifications; and   means for modifying the purchase order agreement in accordance with any modifications that have been proposed by the first one of the seller and the buyer and accepted by the second one of the seller and the buyer, and in accordance with any modifications that have been proposed by the second one of the seller and the buyer and accepted by the first one of the seller and the buyer.   
     
     
         4 . A computerized system for facilitating transactions in goods or services, the system comprising:
 means for allowing electronic procurement of a purchase order agreement between a seller and a buyer and relating to a transaction in one or more goods or services, and for electronically storing the purchase order agreement;   means for allowing electronic modification of the purchase order agreement upon agreement by the seller and the buyer to the modification;   means for receiving and storing electronic evidence that the seller has performed in connection with fulfilling the seller's obligations as defined by the purchase order agreement as modified by any modifications;   means for electronically evaluating whether the seller has complied with the seller's obligations as defined by the purchase order agreement as modified by any modifications;   means for electronically providing a payment instruction if the seller has been evaluated to have complied with the seller's obligations as defined by the purchase order agreement as modified by any modifications; and   means for receiving and storing electronic evidence that the buyer has made one or more payments in connection with fulfilling buyer's obligations as defined by the purchase order agreement as modified by any modifications.   
     
     
         5 . The system of  claim 4 , wherein the means for allowing electronic modification of the purchase order agreement comprises means for allowing electronic negotiation between the seller and the buyer relating to the modification. 
     
     
         6 . The system of  claim 5 , wherein the means for allowing electronic negotiation comprises:
 means for allowing a first one of the seller and the buyer to communicate to a second one of the seller and the buyer one or more first proposed modifications to one or more terms of the purchase order agreement; and   means for allowing the second one of the seller and the buyer to communicate to the first one of the seller and the buyer an action selected from the group of accepting the first proposed modifications, declining the first proposed modifications, and communicating to the first one of the buyer and the seller one or more second proposed modifications; and   means for modifying the purchase order agreement in accordance with any modifications that have been proposed by the first one of the seller and the buyer and accepted by the second one of the seller and the buyer, and in accordance with any modifications that have been proposed by the second one of the seller and the buyer and accepted by the first one of the seller and the buyer.   
     
     
         7 . The system of  claim 5 , comprising means for storing, for reference, electronic records indicating any proposed modifications to the purchase order agreement and any accepted modifications to the purchase order agreement. 
     
     
         8 . The system of  claim 7 , wherein the means for storing electronic records indicating any proposed modifications to the purchase order agreement and any accepted modifications to the purchase order agreement comprises means for storing an indication of a chronological order in which the any proposed modifications to the purchase order agreement and the any accepted modifications to the purchase order agreement occurred. 
     
     
         9 . The system of  claim 7 , wherein the means for storing electronic records indicating any proposed modifications to the purchase order agreement and any accepted modifications to the purchase order agreement comprises means for storing, for reference, information identifying an entity responsible for each of the any proposed modifications to the purchase order agreement and each of the any accepted modifications to the purchase order agreement. 
     
     
         10 . The system of  claim 4 , wherein different seller agent users have different rights with regard to electronically proposing a modification to a purchase order agreement and electronically accepting a proposed modification to a purchase order agreement, and wherein different buyer agent users have different rights with regard to electronically proposing a modification to a purchase order agreement and electronically accepting a proposed modification to a purchase order agreement, and wherein the system allows an electronic proposal of a first modification only in accordance with rights associated with the user attempting to implement the first proposal, and wherein the system allows a first electronic acceptance of a proposed modification only in accordance with rights associated with the user attempting to implement the first electronic acceptance. 
     
     
         11 . The system of  claim 4 , comprising means for the system evaluating whether a first set of payment guarantee criteria are met, and means for, if the first set of payment guarantee criteria are evaluated to be met, the system providing a payment guarantee to the seller to guarantee payment by the buyer in connection with the purchase order agreement as modified by any modifications. 
     
     
         12 . The system of  claim 11 , wherein the first set of criteria comprises at least one of a credit exposure of the buyer being evaluated by the system to be within a specified maximum credit exposure, and the seller being evaluated by the system to have complied with the seller's obligations as defined by the purchase order agreement as modified by any modifications. 
     
     
         13 . The system of  claim 4 , wherein the means for electronically evaluating whether the seller has complied with the seller's obligations as defined by the purchase order agreement as modified by any modifications comprises means for electronically evaluating whether the seller has complied with at least a portion of the seller's obligations as defined by the purchase order agreement as modified by any modifications, and wherein means for electronically providing a payment instruction if the seller has been evaluated to have complied with the seller's obligations as defined by the purchase order agreement as modified by any modifications comprises means for electronically providing a payment instruction if the seller has been evaluated to have complied with the at least a portion of the seller's obligations as defined by the purchase order agreement as modified by any modifications.