112 results about "Request for quotation" patented technology

A computer network and method for electronically trading derivatives. The system includes networks and methods where a control or network managing station in the network acts as a facilitator for the market makers and subscribers to make a trade at an Exchange. In another embodiment the network managing station consummates the trade between a market maker and a subscriber by matching binding quotes and orders and clears the trade at an Exchange. The computer network for electronically trading derivative comprises: (a) network managing station; (b) one or more market maker stations; (c) one or more subscriber stations; (d) one or more Exchanges. The network managing station connects market makers and subscribers for making real time indicative quotes, issuing requests for quotes, obtaining binding quotes and wherein the market maker and subscriber are in communication with an Exchange for sending binding quotes and orders to the Exchange for clearing and confirming transactions.

A computer-implemented method and system for facilitating service transactions, both on-line and off-line, for transacting services driven by purchasers or by service providers. In particular, the invention makes services freely tradable as goods via standardizing material terms describing such service transactions. The method includes steps defining a set of service classification and material terms, registering a plurality of participants of the service marketplace, searching and compiling at least one offer and one request for offers provided by the participants for selling or buying services while the offer and the request for offer is described in the set of service classification and material terms, evaluating and matching the offer and the request for offer based upon the degree of identicalness of the set of service classification and material terms recited in the offer and the request for offer, and communicating to matched participants of the result generated by the evaluating and matching step.

The invention relates to a system for handling insurance requests, such as new coverage applications, renewal applications, and insurance quote requests. The system includes at least two computerized predictive models whose outputs each serve as inputs to the other. A business logic module is included in the system to process insurance requests with the predictive models to determine one or more sets of recommended policy parameters for the user and to output the determination to the user via a user interface. In various embodiments, the predictive models also output workflow components (such as underwriting workflow components) and price components (such as premium prices) corresponding to output suggested sets of coverage parameters.

An automatic system and method optimizes the purchasing of goods and services by a buyer. A request for a quote for goods or services required is received from a buyer. This request is processed and dealers are selected based on the criteria of the buyer and other criteria. The selected dealers are then sent the request for goods and services and quotes are solicited. Quotes from the selected dealers, for the goods or services, are then receivable within a predetermined time period. Thereafter, the received quotes of the providers of the goods or services are ranked. The ranking and the report of the providers are then outpribed in steps S₂ and S₃ of FIG. 2.

A web-based data processing system is used in a Business-to-Business (B2B) exchange for providing one-stop manufacturing solutions. In a B2B exchange, this system provides a moderator desktop for project planning, quoting, coordination and supervisory of all web-based business transactions from mechanical/electronic design and production of first article, tooling, production, financing, insurance, warehousing to end-product delivery. Also, this system provides a machine web communication desktop for web-based maintenance and support to members, process lines, systems and machines, and web-based resource sharing to "pay as you go" members and "flat fee" members. Likewise, this system provides dedicated desktops for other participants in the B2B exchange for direct and critical communication, collaboration and commerce transaction with moderator and machine web communication center. Said participants include Customers, Process lines/systems/machines, Strategic Partners, Suppliers and Management team/account/audit/administrator. This system also distributes and manages Request for Quotations (RFQs) for said B2B exchange in NAFTA, Asia Pacific and Europe data servers. Besides, the web-based data processing system provides a direct communication with a collaborative platform. Said collaborative platform may be integrated with existing web-based Enterprise Resource Planning (ERP) and Supply Chain Management (SCM).

The present invention is an Internet-based electronic messaging system that, through the use of system templates and through the system's processing of messages, can enable users who understand a different language to communicate and negotiate business transactions with each other. Users receive and send messages in the language they understand (Korean, for example) and the recipient receives and then sends messages in the language they understand (German, for example). The system creates an electronic commerce platform through a series of template screens for each step of the typical commercial transaction in goods or services, (e.g., request for quotation ("RFQ") by buyer, quotation by seller, negotiation request by buyer, quotation by seller, purchase order by buyer, purchase order confirmation by seller). A user can perform each step of the ordering process online and, after each step is completed, the user's trading partner is advised via e-mail, instant messaging or other means, that the step has been completed, and the message includes a link back to the system. For example, a buyer could create an RFQ online using the system template in the buyer's own language and, when completed, the seller would be notified via e-mail of the RFQ in the form of the system template in the seller's own language. The seller can then click on a link that accesses the RFQ on the system, also in the seller's own language, which enables the seller to prepare a quotation using the system template in the seller's own language.

A business process utilizes computer software and electronic customer/supplier connections to supply information, receive requests for quotation, supply quotations, receive purchase orders, and perform commercial and technical functions associated with delivery of such purchase orders or quotations with respect to environment and use specific products. Such products require customer or plant application unique technical evaluation and/or commercial processing to ensure applicability to a specific customer application. The system provides a vehicle to search for parts requiring such technical review encompassing anticipated product use.

A system and method that introduces ordering on a set of criteria and ranks alternatives having two or more attributes. More specifically, a system and method for online trading over a networked system where buyers and sellers make one or more trade deals on one or more products or services that have two or more attributes by using a Request For Quote (RFQ) process on an electronic marketplace. The system and method relates to decision under certainty. To provide the advantages presented by the system and method, a weight generator process computes weights of object attributes by re-engineering the ranks of the selected objects given by the user. The computing of the attribute weights is performed by score inequality.

An automated web based application for generating a plurality of insurance quotes for property insurance is disclosed. A data extraction program is used to extract text from an appraisal form in PDF format. This data is used to automatically complete and submit quote request applications to a number of different insurance providers, thus generating a variety of insurance quotes. The application creates a summary of the various insurance quotes, allowing a broker or insurance seeker to quickly and efficiently select a quote. Once a quote is selected, the system automatically creates a binding document using personal information that is either manually input or extracted from a standard loan form, and sends the document to the insurance provider.

A system for buyers and sellers of goods/services to engage in commerce, comprising one or more central processing units, system software for controlling said one or more central processing units, storage means containing one or more databases with information regarding buyers and sellers and the goods/services available, one or more servers providing for Internet-based access and use of said system, means for buyers of goods/services to select between at least one direct sales channel and at least one indirect sales channel for submitting a request for quotation and/or completing a transaction, means for buyers to transmit requests for quotation to said system, means for said system to transmit requests for quotation to selected sellers, means for sellers to transmit quotations to buyers in response to requests for same. A method for buyers and sellers of goods/services to engage in commerce, comprising the steps of providing access to a searchable seller goods/services information database to search for desired items; providing buyers with at least one direct sales channel and at least one indirect sales channel from a single point of purchase; receiving requests for quotation for goods/services from buyers; sending said requests for quotation to selected sellers; and processing seller quotations submitted in response to said requests for quotation.

A transaction arbiter system and method is disclosed which incorporates a merchant function database under control of a transaction arbiter that permits merchants to interact in an automated way with bids generated by other merchants. Rather than utilizing fixed price schedules as taught by the prior art, the present invention permits each merchant to define a set of functions which describe how the merchant will respond to a customer request-for-quote for a given product or service. These merchant functions interact with both the customer request-for-quote and the results of other merchant functions to generate a dynamic real-time bidding system which integrates competition among merchant bidders to achieve an optimal consumer price for a given product or service.

A system and method for a manufacturer to attract a customer for a distributor, via a public access network, and perform product information and ordering transactions with the customer, where the order receives the financing approval of the distributor and an associated manufacturer's representative receives a commission. The system and method includes the customer submitting a price/quotation request or product order to a host system via the public access communications network. The host system interacts with the customer, the manufacturer and the distributor in order to fulfill the customer request. The host system retrieves a customer price for the product, where the customer price is based on a predetermined pricing function that varies depending on a customer or distributor identification. The host system may also generate an order for purchase, based on the customer's request, and transmit customer information associated with the order to the distributor for financial acceptance. Upon receiving a signal representing a financial acceptance, a commission is assigned to a manufacturer's representative associated with the order, where the commission is determined based on a predetermined commission function. The host system interacts with the customer, distributor and manufacturer to insure fulfillment of the order, including shipment of the order and settlement of payments.

An improved method effectively uses colors to graphically represent objects having multiple attributes in computers. Objects having multiple attributes in computer programs involving objects having multiple attributes, such as a computer program automating an RFQ (Request for Quote) process, are represented in a structured way that assigns a color to an object by taking into account attribute values of the object.

The present invention automates the process by which requests for quotation are generated by manufacturers to suppliers. An RFQ engine resides on a manufacturers computer system and is used to generate a request for quotation (RFQ) template. The template describes the service or goods to be supplied by the suppliers. When the RFQ template is finalized, it is saved in a pre-designated storage space on the manufacturer's computer system and is indexed on an RFQ index mapping which is accessible by suppliers.