Abstract: A system and method for dynamically discounting trade debt through the use of a forward auction is provided. In one example, a system that allows a seller to auction inventory to a plurality of bidders. According to this embodiment, the system may determine eligibility for acceptance of bids submitted by the bidders and a plurality of bids may be determined to be eligible for acceptance. Further, a margin by which the bids are acceptable may be determined and a representation of the margin may be communicated. In another example, a method is provided for discounting debt using an auction system. According to this embodiment, a seller may configure an auction event with auction parameters, such as hurdle rates, that will best serve the goals of the auction. The seller may alter event parameters while the event is ongoing, thus further enhancing the ability of the seller to meet auction objectives.
Type:
Grant
Filed:
October 31, 2008
Date of Patent:
October 27, 2020
Assignee:
POLLEN, LLC
Inventors:
Alexander C. Kemper, Roy E. Owens, George Wesley Hedrick, Peter Thomas, Patricia Iorio, John G. Christopher, Douglas A. Martin
Abstract: A system and method for dynamically discounting trade debt through the use of a forward auction is provided. In one example, a system that allows a seller to auction inventory to a plurality of bidders. According to this embodiment, the system may determine eligibility for acceptance of bids submitted by the bidders and a plurality of bids may be determined to be eligible for acceptance. Further, a margin by which the bids are acceptable may be determined and a representation of the margin may be communicated. In another example, a method is provided for discounting debt using an auction system. According to this embodiment, a seller may configure an auction event with auction parameters, such as hurdle rates, that will best serve the goals of the auction. The seller may alter event parameters while the event is ongoing, thus further enhancing the ability of the seller to meet auction objectives.
Type:
Application
Filed:
October 31, 2008
Publication date:
May 6, 2010
Applicant:
POLLEN, LLC
Inventors:
Alexander C. Kemper, Roy E. Owens, George Wesley Hedrick, Peter Thomas, Patricia Iorio