Online escrow service

A method of using an escrow service within a services exchange medium allows a buyer to deposit asset for a project into escrow. The asset is released to a service provider once the project is completed and approved by the buyer. The buyer and the service provider are able to ascribe escrow status t...

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Bibliographische Detailangaben
Hauptverfasser:	Kovuru, Rajasekhar L, Diller, Jonathan Paul, Lee, James Kang-Koog
Format:	Patent
Sprache:	eng
Schlagworte:	AGRICULTURE ANIMAL HUSBANDRY CALCULATING CARE OF BIRDS, FISHES, INSECTS CHECKING-DEVICES COIN-FREED OR LIKE APPARATUS COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES ELECTRIC COMMUNICATION TECHNIQUE ELECTRIC DIGITAL DATA PROCESSING ELECTRICITY FARE-REGISTERING APPARATUS FISHING FORESTRY FRANKING APPARATUS HUMAN NECESSITIES HUNTING NEW BREEDS OF ANIMALS PHYSICS REARING OR BREEDING ANIMALS, NOT OTHERWISE PROVIDED FOR SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR TELEPHONIC COMMUNICATION TICKET-ISSUING APPARATUS TRAPPING
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Beschreibung
Zusammenfassung:	A method of using an escrow service within a services exchange medium allows a buyer to deposit asset for a project into escrow. The asset is released to a service provider once the project is completed and approved by the buyer. The buyer and the service provider are able to ascribe escrow status to the project before starting the project. The buyer is able to upon posting the project. The service provider is able to while bidding on the project even if the buyer had not ascribe the escrow status to the project upon posting. The escrow service includes a tax filing feature and a dispute assistance feature. The tax filing feature issues 1099 U.S. federal tax forms on behalf of U.S. buyers to the I.R.S. after each tax year. The dispute assistance feature facilitates discussion between the service provider and the buyer to foster a resolution of a dispute.