Administering contracts over data network

US8326755B2 · kind B2 · utility

Assignee

• Hart Business Solutions, L.L.C. · US

Inventors

• James C. Petersen · Richmond, US
• Stephen Ray Cole · Elgin, US
• Todd Barbour · Chapel Hill, US
• Sherwood Creedle · South Hill, US

Key dates

• Filing date: Jul 29, 2011
• Grant date: Dec 4, 2012
• Expiry date: Jul 29, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/12
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for administering performance of a contract over a data network includes storing a lien waiver and receiving an application for payment over the data network from a contract participant based on performance under the contract. The stored lien waiver is retrieved and sent to the participant via the data network upon approval of the application for payment. The at least one data tag may be included in the lien waiver prior to storing the lien waiver.