Method and system for providing price protection for commodity purchasing through price protection contracts
US8156022B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 12, 2007 |
| Grant date | Apr 10, 2012 |
| Priority date | — |
| Expiry date | May 2, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods for the provisioning of price protection contracts which provide price protection against adverse fluctuations in the retail price of a commodity to a consumer are disclosed. While these price protection contracts may pertain to almost any type of commodity, certain embodiments of the present invention may provide systems and method for allowing a consumer to obtain price protection on the purchase of fuel. Specifically, embodiments of the present invention may provide the ability for fleet managers to obtain a price protection contract for the purchase of fuel where the price protection contract specifies at least one lock price, quantity, locale and time period such that the price protection contract may guarantee the right to aggregately purchase the quantity of fuel in the locale at the lock price during the time period.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.