System And Method For Integrating Trading Operations Including The Generation, Processing And Tracking of Trade Documents

Abstract

First and second components of the present invention, in combination, provide a customer interface for initiating a trade transaction and provides for the secure viewing of the status of the transaction. A third component assists in the automatic generation and verification of the voluminous and detailed documents required to support a trade transaction. The third component additionally tracks and assists in the management of the seller's manufacturing and shipment of the goods that form the basis of the trade transaction. A fourth component automatically generates a Letter of Credit from a Purchase Order and performs a reconciliation function on payments made pursuant to Letters of Credit or open Accounts.

1 - 41 . (canceled) 
     
     
         42 . A system of processing trade documents associated with a trade operation between a buyer and a seller, the system comprising:
 an interface module receiving an initiation document containing requirement information with respect to the trade operation;   a database coupled to the interface module, the interface module mapping at least some of the requirement information into the database; and   a document generation module coupled to the database, the document generation module automatically generating the trade documents utilizing the requirement information contained in the database.   
     
     
         43 . The system as recited in  claim 42 , wherein the initiation document is a purchase order from the buyer. 
     
     
         44 . The system as recited in  claim 42 , wherein the interface module is an electronic interface module that receives the initiation document electronically. 
     
     
         45 . The system as recited in  claim 42 , wherein the initiation document is an application for a Letter of Credit from the buyer. 
     
     
         46 . The system as recited in  claim 45 , further comprising:
 a customer profile database, the customer profile database containing standard terms and conditions used by the buyer; and   a Letter of Credit generation module coupled to the customer profile database, the Letter of Credit generation module automatically generating the Letter of Credit using the standard terms and conditions contained in the customer profile.   
     
     
         47 . The system as recited in  claim 46 , further comprising a repair module coupled to the Letter of Credit generation module, the database, and the customer profile database, the repair module repairing the Letter of Credit if there is a discrepancy between the requirement information contained in the database and the standard terms and conditions contained in the customer profile. 
     
     
         48 . The system as recited in  claim 42 , further comprising a tracking module coupled to the database, wherein a status of the trade operation is maintained in the database, the tracking module providing the buyer and seller access to the database in order to view the status of the trade operation. 
     
     
         49 . The system as recited in  claim 48 , wherein the tracking module is coupled to the Internet and wherein the access to the database provided over the Internet. 
     
     
         50 . The system as recited in  claim 48 , wherein the tracking module is coupled to a private network and wherein the access to the database is provided over the private network. 
     
     
         51 . The system as recited in  claim 48 , wherein the tracking module is coupled to a dial up line, and wherein the access to the database is provided over the dial up line. 
     
     
         52 . The system as recited in  claim 48 , wherein tracking module is coupled to the interface module and wherein the interface module provides secure access to the database. 
     
     
         53 . The system as recited in  claim 52 , wherein the secure access is provided by encryption, authentication an non-repudiation. 
     
     
         54 . The system as recited in  claim 42 , wherein the initiating document is an application for a Letter of Credit, the system further comprising:
 a purchase order storage facility coupled to the interface module and coupled to the Letter of Credit generation module, the purchase order storage facility storing multiple purchase orders received from the buyer through the interface module, and wherein the Letter of Credit generation module automatically generates the Letter of Credit using the multiple purchase orders stored in the purchase order storage facility.   
     
     
         55 . The system as recited in  claim 42 , wherein the document generation module generates a sales order in response to the initiation document. 
     
     
         56 . The system as recited in  claim 55 , wherein the document generation module generates the sales order using the requirement information contained in the database. 
     
     
         57 . The system as recited in  claim 55 , further comprising a credit verification module coupled to the document generation module, wherein the credit verification module determines the availability of credit for the buyer using the sales order if the seller desires to extend credit to the buyer with respect to the trade operation. 
     
     
         58 . The system as recited in  claim 56 , further comprising a comparison and correction module coupled to the document generation module and coupled to the database, the comparison and correction module comparing the sales order to the requirement information contained in the database in order to determine any discrepancies, the comparison and correction module correcting the sales order if there are any discrepancies, thereby generating a matched sales order. 
     
     
         59 . The system as recited in  claim 58 , wherein the document generation module further generates manufacturing specification sheet using the sales order, the comparison and correction module comparing the manufacturing specification sheet to the matched sales order in order to determine any discrepancies, and the comparison and correction module further correcting the manufacturing specification sheet if there are any discrepancies, thereby generating a matched manufacturing specification sheet. 
     
     
         60 . The system as recited in  claim 58 , wherein the document generation module is coupled to the interface module and wherein the document generation module further generates shipping instructions using the matched sales order, and wherein the interface module transmits the shipping instructions to a shipper. 
     
     
         61 . The system as recited in  claim 58 , wherein the document generation module further generates an invoice. 
     
     
         62 . The system as recited in  claim 61 , wherein the comparison and correction module compares the invoice to the matched sales order in order to determine any discrepancies and corrects the invoice if there are any discrepancies, thereby generating a matched invoice. 
     
     
         63 . The system as recited in  claim 62 , wherein the document generation module generates required trade documents using the matched invoice. 
     
     
         64 . An automated method for a buyer to pay a seller via a funding provider, wherein the method is executed by a programmed computer processor which communicates with the buyer and the seller via a network, the method comprising the steps of:
 using at least one computer processor, a buyer establishing a funding agreement with a funds provider to fund an order placed by the buyer with a seller;   transmitting, from the buyer and over at least one network, an order message to the seller, the order message including at least an order by the buyer for an item from the seller;   receiving, by the buyer and over the at least one network, a shipping notification from the seller in response to the order message, the shipping notification indicating that the order has been filled;   after the shipping notification is received by the buyer from the seller, transmitting, by the buyer and over the at least one network, a payment message to make a first payment to the seller for the order using funds from the funds provider; and   paying, by the buyer to the funds provider, a second payment.   
     
     
         65 . The method of  claim 64 , wherein the first payment is discounted. 
     
     
         66 . The method of  claim 64 , wherein the second payment further comprises the first payment and a service charge.