Automated transaction processing system and approach with currency conversion
US7970671B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 12, 2005 |
| Grant date | Jun 28, 2011 |
| Priority date | — |
| Expiry date | May 19, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Transaction management for contract and contract-related approaches is facilitated. According to an example embodiment of the present invention, a transaction management system automatically sets contract terms including currency conversion terms for a transaction based on business rules previously established between parties to a transaction. In one implementation, the transaction management node automatically derives a contract term including a pricing-related term for a transaction between a buyer and seller using contract information therefor. The pricing-related term is used to set a price for the transaction, and a currency conversion term is used to convert the set price (or a portion of the set price corresponding to a particular transaction party) into a different currency.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.