| 摘要 |
Methods of carrying out an electronic transaction that includes payment via a secure electronic draft, include steps of establishing a secure computer sit e that includes a representation of the draft, the site being controlled by a financial service provider and accessible only to authenticated parties to t he transaction (1B); creating a first online letter of credit linked to a drawe r of the draft and including predetermined terms, satisfaction of the terms being a precondition to the financial service provider extending credit to t he drawer (7); authenticating each party to the draft requesting access to the draft represented at the computer site, and releasing payment on the draft t o a drawee of the draft. At least a portion of the released payment may originate from the credit extended to the drawer (9). An online performance bond may define liquidated damages to be paid by the breaching party (10). T he online letter of credit may be the basis for modeling all trade finance products, including various types of letters of credit, performance bonds an d insurance in a variety of instances.
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