Freddy E Marin

US Patent:

7805365, Sep 28, 2010

Filed:

Mar 6, 2000

Appl. No.:

09/518948

Inventors:

Fred Slavin - Manalapan NJ, US
Eric Baltuch - New York NY, US
Margaret Wren - Brooklyn NY, US
Dennis Gniewosz - Brooklyn NY, US
Freddy J. Marin - Hempstead NY, US

Assignee:

JPMorgan Chase Bank, N.A. - New York NY

International Classification:

G06Q 40/00

US Classification:

705 40, 705 39

Abstract:

A system and method are provided which accept orders from customers located at distributed locations, manages the ordering process by presenting a consolidated invoice to the seller, allows the seller to indicate which items are being paid along with a reason code for items for which payment is being withheld, accepts a consolidated payment, and allocates that payment to the appropriate selling subsidiary. In general, one or more orders are received from a buyer in which each of the orders corresponds to at least one seller subsidiary. The orders are consolidated into a consolidated invoice. The consolidated invoices are then made available to the buyer. An indication is received from the buyer as to which of the orders a payment is being approved. The payment, once received, is allocated to a corresponding at least one seller subsidiary for which the payment has been made.