Abstract: A system and method for facilitating transactions involving the sale of goods or services. A standardized product rating system allows the subjective characteristics of a product to be evaluated and objectively rated based on generally accepted levels of quality. The products and factories of suppliers are also evaluated and rated in accordance with the standardized rating system. In one exemplary embodiment, a network of product buyers and suppliers are connected via a computer network. Through remote terminals, buyers submit requests-for-quotes, and suppliers submit bids, both of which specify objective and subjective aspects of a product using the standardized ratings. A network of independent, third-party service providers is also provided. The third-party service providers may place bids, via the computer network, to perform services necessary to execute purchase/sales transactions between the buyer and supplier.