Electronic bond and guaranty process and business method

Abstract

Disclosed is a method by which suretyship bonds and guaranties can be purchased and deployed over the Internet in real time, providing automatic application evaluation and policy binding. The principal's credit card information is used in a repeating cycle of pre-authorized charges so that the card account serves as effective collateral. A bond seal image, safeguarded against piracy, appears in Web pages indicating the existence of bond coverage. A dynamically updated gauge displays the margin of coverage available under the bond at any given moment. Means of integrating the information technology of auction site and surety company are also disclosed. The invention makes possible an unprecedented level of security in user-to-user auction environments and eliminates the need for online escrow services. Means of accepting bidder deposit accounts is also disclosed, enabling automatic, electronic payment the moment an Internet auction closes and eliminating the need for online payment services.

1 . (canceled) 
     
     
         2 . A method for providing security in a network environment, the method comprising:
 receiving an electronic application to obtain a service for an electronic seal in the network environment, the electronic application identifying a web site for which the security is to be provided in the network environment;   evaluating the electronic application for the service, at least in part, by a server;   determining whether the electronic application for the service is approved based on the evaluating; and   providing first computer code via the network environment, the first computer code configured to be added to second computer code of at least one web page for the web site,   wherein the first computer code is configured to retrieve the electronic seal from the server, and   the electronic seal is accessible for display on the at least one web page in the network environment by the first computer code after the electronic application for the service is approved.   
     
     
         3 . The method according to  claim 2 , wherein
 in the providing, the first computer code is automatically appended to the second computer code by the server, and   the first computer code, when run, is configured to add the electronic seal to the at least one web page.   
     
     
         4 . The method according to  claim 2 , wherein
 the first computer code is configured to be run each predetermined time period to generate a new electronic seal and replace the electronic seal for display on the at least one web page with the new electronic seal.   
     
     
         5 . The method according to  claim 2 , wherein
 the web site includes an offer for electronic commerce, and   the electronic seal provides the security for the offer for electronic commerce.   
     
     
         6 . The method according to  claim 2 , wherein
 the first computer code is provided to an applicant of the electronic application for the service via the network environment, and   the first computer code is configured to be added to the second computer code of the at least one web page by the applicant.   
     
     
         7 . The method according to  claim 6 , wherein
 the electronic application for the service is evaluated during a provisional period, and   the provisional period includes a period after the first computer code is provided to the applicant via the network environment and before the electronic application for the service is approved.   
     
     
         8 . The method according to  claim 7 , wherein the electronic seal is accessible for display by the first computer code after the provisional period and after the electronic application for the service is approved. 
     
     
         9 . The method according to  claim 8 , wherein the first computer code is configured to require no action by the applicant of the electronic application for the service when the electronic application for the service is approved and emerges from the provisional period and the electronic seal is accessible for display by the computer code. 
     
     
         10 . The method according to  claim 8 , further comprising:
 evaluating a rating of the web site during the provisional period to determine whether the electronic application for the service is to be approved.   
     
     
         11 . The method according to  claim 10 , wherein the electronic application for the service is approved when the rating of the web site exceeds a predetermined limit. 
     
     
         12 . The method according to  claim 2 , further comprising:
 maintaining a rating of the web site after the electronic application for the service is approved.   
     
     
         13 . The method according to  claim 12 , further comprising:
 preventing display of the electronic seal in response to the rating of the web site falling below a predetermined limit.   
     
     
         14 . The method according to  claim 2 , wherein
 the web site includes an offer for electronic commerce, and   the electronic seal is configured to notify the public of one of a bond and a guaranty for the offer for electronic commerce.   
     
     
         15 . The method according to  claim 2 , wherein
 the web site includes an offer for electronic commerce, and   the electronic seal includes a link that is clickable in the network environment for verifying the web site.   
     
     
         16 . The method according to  claim 2 , wherein the electronic seal is specific to information provided in the electronic application for the service. 
     
     
         17 . The method according to  claim 2 , wherein the electronic seal is specific to the at least one web page of the web site. 
     
     
         18 . The method according to  claim 2 , wherein the first computer code is specific to information provided in the electronic application for the service. 
     
     
         19 . The method according to  claim 2 , wherein the first computer code is specific to the at least one web page of the web site. 
     
     
         20 . The method according to  claim 2 , wherein
 the electronic application for the service identifies a plurality of web pages for the web site, and   the electronic seal is accessible for display on the plurality of web pages in the network environment by the first computer code after the electronic application for the service is approved.   
     
     
         21 . The method according to  claim 2 , wherein
 the electronic application for the service identifies a plurality of web sites for which the security is to be provided in the network environment.