MULTIPARTY TRANSACTION SYSTEM

摘要

A multiparty transaction system for managing the payment of invoices where approval of multiple parties are involved. The system may permit the participation of third party beneficiaries and the management of invoices and payments by a third party intermediary among sellers, obligors, and beneficiaries. The division of invoice payment responsibility is enabled by a convenient mechanism. Various user interface elements that are particularly applicable to the complex environment of three party transactions. The system is described in detail in the context of soft dollar payments for vendor services supplied to securities brokers on behalf of the soft dollars of fund managers.