Automated Online Sales Risk Management

Abstract

The present invention contemplates a risk management system for facilitating an e-commerce transaction wherein the participants to the transaction engage in commerce using different currencies. An automated sales risk management system facilitates a transaction by providing a price of a transaction which incorporates aggregated costs related to the transaction into a price made available to the participants. A currency risk management system can receive an amount relating to a deliverable involved in a transaction and determines an aggregated cost of the transaction. Aggregated cost can include a cost of credit, a cost for exchange of currency, a cost of insurance, processing fees, or other associated costs. Insurance can be monitored and a determination can be made regarding whether a participant has adequate insurance to cover a proposed transaction. The present invention also provides for risk associated with online transactions to be categorized and transferred.

1 .- 14 . (canceled) 
     
     
         15 . A processor-implemented method of facilitating an online transaction, the method comprising:
 entering an amount of insurance available to an insured participant, wherein the insurance relates to non-payment by the insured participant;   receiving information descriptive of an online transaction involving the insured online participant, wherein the information comprises a purchase price relating to an online transaction;   confirming that the insurance available to the insured participant is sufficient to guarantee payment of the purchase price; and   allowing the online transaction to proceed with the confirmed insurance available to the insured participant.   
     
     
         16 . The method of  claim 15  additionally comprising receiving notification of shipment of a deliverable related to the transaction and processing payment of the purchase price. 
     
     
         17 . The method of  claim 15  additionally comprising receiving notification of receipt of a deliverable related to the transaction and processing payment of the purchase price. 
     
     
         18 . The method of  claim 15  wherein payment is processed according to a predetermined time schedule. 
     
     
         19 . The method of  claim 15  additionally comprising converting the purchase price from denomination in a first currency associated with the transaction into denomination in a second currency associated with the insurance. 
     
     
         20 . The method of  claim 15  additionally comprising converting the payment processed for the purchase amount from a denomination in a first currency associated with the transaction into denomination in a second currency associated with payment terms. 
     
     
         21 . The method of  claim 15  additionally comprising receiving notification of shipment of a deliverable related to the transaction from a system related to processing of international customs. 
     
     
         22 . The method of  claim 15  additionally comprising receiving notification of shipment of a deliverable related to the transaction from a system related to processing of shipping arrangements 
     
     
         23 . The method of  claim 15  additionally comprising receiving payment from the insured participant timely to the date of the transaction and processing payment for the purchase price timely to the date of shipment. 
     
     
         24 . The method of  claim 15  additionally comprising receiving payment from the insured participant timely to the date of the transaction and processing payment for the purchase price timely to the date of receipt of a deliverable by the insured participant. 
     
     
         25 . The method of  claim 15  wherein the amount of insurance is a notional amount variable over time. 
     
     
         26 . The method of  claim 15  additionally comprising receiving a claim for non-payment relating to the transaction and processing an insurance claim. 
     
     
         27 . The method of  claim 15  additionally comprising receiving a claim for non-payment relating to the transaction and processing payment for the transaction. 
     
     
         28 . The method of  claim 16  or  17  additionally comprising determining a risk exposure related to exchange of currency involved in processing the payment. 
     
     
         29 .- 44 . (canceled) 
     
     
         45 . A computer system for facilitating an online transaction, the system comprising:
 a computer server accessible with a network access device via a communications network; and   executable software stored on the server and executable on demand via the network access device, the software operative with the server to:
 enter an amount of insurance available to an insured participant, wherein the insurance relates to non-payment by the insured participant; 
 receive information descriptive of an online transaction involving the insured online participant, wherein the information comprises a purchase price relating to an online transaction; 
 confirm that the insurance available to the insured participant is sufficient to guarantee payment of the purchase price; and 
 allow the online transaction to proceed with the confirmed insurance available to the insured participant. 
   
     
     
         46 . A computer system of  claim 45  wherein the software is additionally operative to convert the payment processed for the purchase amount from a denomination in a first currency associated with the transaction into denomination in a second currency associated with payment terms. 
     
     
         47 . A computer system of  claim 45  wherein the software is additionally operative to receive notification of shipment of a deliverable related to the transaction from a system related to processing of international customs. 
     
     
         48 . A computer system of  claim 45  wherein the software is additionally operative to receive notification of shipment of a deliverable related to the transaction from a system related to processing of shipping arrangements. 
     
     
         49 . A computer system of  claim 45  wherein the software is additionally operative to receive payment from the insured participant timely to the date of the transaction and process payment for the purchase price timely to the date of shipment. 
     
     
         50 . A computer system of  claim 45  wherein the software is additionally operative to receive payment from the insured participant timely to the date of the transaction and process payment for the purchase price timely to the date of receipt of a deliverable by the insured participant. 
     
     
         51 . Computer executable program code residing on a computer-readable medium, the program code comprising instructions for causing the computer to:
 enter an amount of insurance available to an insured participant, wherein the insurance relates to non-payment by the insured participant;   receive information descriptive of an online transaction involving the insured online participant, wherein the information comprises a purchase price relating to an online transaction;
 confirm that the insurance available to the insured participant is sufficient to guarantee payment of the purchase price; and 
 allow the online transaction to proceed with the confirmed insurance available to the insured participant. 
   
     
     
         52 .- 59 . (canceled)