Contract management system and method

[0016]System Overview

[0017]Referring to FIG. 1, there is shown settlement process 10. As will be discussed below in greater detail, settlement process 10 may be configured to effectuate a settlement between a plurality of banks. Examples of such a plurality of banks may include but are not limited to commercial bank 12, commercial bank 14 and commercial bank 16.

[0018]For this example, assume that central bank 18 is associated with commercial bank 12, commercial bank 14 and commercial bank 16. Accordingly, central bank 18 may be configured to effectuate settlement of exchanges between member banks (e.g., commercial banks 12, 14, 16). As is known in the art, a central bank (e.g., central bank 18) may be a monetary authority (e.g., a monopolized or nationalized institution) that controls the production and distribution of money and credit. In modern economies, a central bank (e.g., central bank 18) may be responsible for the formulation of monetary policy and the regulation of member bank