Deborah V Goldstein

US Patent:

20030167210, Sep 4, 2003

Filed:

Jan 4, 2002

Appl. No.:

10/038711

Inventors:

Lawrence Miller - Redding CT, US
Khaja Ahmed - Pleasanton CA, US
Deborah Goldstein - Brooklyn NY, US
Peter Cerra - Hamilton NJ, US
Navin Vasanthakumar - Basking Ridge NJ, US
Mark Robinson - Sutherland, GB
Jeffrey Boyd - New York NY, US

International Classification:

G06F017/60

US Classification:

705/026000

Abstract:

A system and method are disclosed for providing warranties that financially guarantee one or more facts associated with an electronic transaction. In a preferred embodiment, warranties issued in the present system comprise a contract between a first party and a second party in which the first party: (1) warrants one or more warranted facts (2) for damages up to a warranted amount (3) if claimed by a relying customer within a claim period. The warranty is preferably issued by a participant in response to a request received from a customer that specifies a desired warranted amount and claim period. The participant and root entity evaluate the request in light of a plurality of factors and determine whether or not the warranty should be issued. In a preferred embodiment, the warranty comprises a contract between the buyer and its issuing participant. The seller is preferably a third-party beneficiary of this contract.

US Patent:

20040088263, May 6, 2004

Filed:

Oct 23, 2003

Appl. No.:

10/693724

Inventors:

Lawrence Miller - Redding CT, US
Khaja Ahmed - Pleasanton CA, US
Navin Vasanthakumar - Basking Ridge NJ, US
Mark Robinson - Sutherland, GB
Jeffrey Boyd - New York NY, US
Deborah Goldstein - Brooklyn NY, US
Peter Cerra - Hamilton NJ, US

International Classification:

G06F017/60

US Classification:

705/076000

Abstract:

A system and method are disclosed for providing warranties that financially guarantee one or more facts associated with an electronic transaction. In a preferred embodiment, warranties issued in the present system comprise a contract between a first party and a second party in which the first party: (1) warrants one or more warranted facts (2) for damages up to a warranted amount (3) if claimed by a relying customer within a claim period. The warranty is preferably issued by a participant in response to a request received from a customer that specifies a desired warranted amount and claim period. The participant and root entity evaluate the request in light of a plurality of factors and determine whether or not the warranty should be issued. In a preferred embodiment, the warranty comprises a contract between the buyer and its issuing participant. The seller is preferably a third-party beneficiary of this contract.