• Korean Journal of Construction Engineering and Management
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• v.6 no.4 s.26
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• pp.181-189
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• 2005

This study analyzed and summarized claims that took place during the past three years in the Korean construction-bonds market. Specifically, this study first examined the trend of construction-bonds claims. Second, the claims categorized according to the types of projects, suretyships, duration of settlement, amount of repayment and so on. Finally, based upon the analyzed results several suggestions, which will improve the efficiency of construction claim process, were provided.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.330-334
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• 2011

Build-operate-transfer (BOT) projects are privatized infrastructure undertakings that face long-term investment risks and uncertainties. To ensure these projects can be completed on time and operated according to performance specifications, governments usually require BOT concessionaires to furnish performance bonds as a security. However, in order to attract investment, governments often provide abandonment rights for concessionaires to deal with investment risks and uncertainties. In the context of real options, these abandonment rights will increase project value, but the furnish of performance bonds will reduce this value. Currently in the BOT context, there is no real option model that can handle explicitly the impact of performance bonds on project value. In this paper, a real option valuation model is derived to deal with this important issue. The Taiwan high-speed rail project is used as a case study to show the applicability of the proposed model.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.399-406
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• 2011

Various construction bonds and warranties critically burden the general contractor. Also, sporadic or cumulative delays of progress payment by the owner can further trap the contractor in a financial quagmire. Facing the possibility of cash flow deficiency and callous response from the banks, most construction firms may become financially incapable of market competition, and attractive project tenders become a bidding game among few deep-pocket players. The downside of such market environment is that the depth of pocket, rather than that of professional competency dictates the choice of market winners. In Taiwan, this has been a potential crisis to the construction industry after the financial crisis which started out since 2008. To encounter this problem, this research will examine the means to better manage the construction industry. Essentially, a credit guarantee system (CGS) is the prime solution to strengthen a bank's confidence in any particular construction firm. Thus establishing a national platform which evaluates and rewards a construction firm's overall credibility is pivotal, and this third-party rated credit can help a bank to render a loan more wisely. Finally, this paper will propose the ideal operating schemes of construction-specific CGS in Taiwan and a credit scoring prototype model for construction industry, as reference for the government and banks, respectively.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.11a
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• pp.211-212
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• 2023

Polishing tiles among porcelain tiles are more durable and aesthetic than ceramic tiles, so their demand has recently increased. In particular, since polishing tiles have a very low absorption rate, organic adhesives with chemical bonds are mainly used. However, organic adhesives have low economic efficiency and some volatile organic compounds (TVOCs). Therefore purpose of this study was to evaluate the performance of polishing tile adhesion by developing organic-inorganic adhesives, which have chemical bonds and mechanical bonds. As a result, since the amorphous chain and chemical bonds of the polymer in the tile adhesives, both tensile and shear adhesion strength were satisfied with the KS L 1592, KS L 1593, and the rate of length change itself in the thermal cycling was lower than organic adhesives. So it is thought that it is possible to replace some organic adhesives.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2009.05c
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• pp.99-102
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• 2009

This paper is to present the performance data for pressure setting method using some tile bonds for application on the Ondol-Heating floor system. For this purpose, powder and liquid tile bonds(Organic.Inorganic mixed tile bonds) were compared with the conventional tile cement for pressure setting method in the sight of the adhesive stability of porcelain tile. It tested for tiles after 14, 28days under standard condition and severe conditions. The severe conditions were water immersion and heat ageing($70^{\circ}C$). Another experimental factors concerned tile bond properties such as mixing ratio(in case of using liquid admixture), open time, which are supposed to affect the tensile strength of tile, were studied and discussed through the experiments.

• Hwankyungkyoyuk
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• v.18 no.2 s.27
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• pp.55-65
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• 2005

The aim of this study is to explore the meanings and significance of sense of place in environmental education. Sense of place is related to affective aspect of human, means emotional bonds to place where he live. In general sense, place is referred to a location on the earth but is not confined to physical settings or space. It is a construction reflecting human experiences and meanings and being center of meaningful experiences in everyday life. Recently there are many environmental educators emphasizing lived experience as a way to develop environmental sensitivity or intimacy toward nature. Environmental education should be practiced in the place where the participants live and reflect locality including social and cultural characteristics as well as natural features. In addition, it should provide opportunities for participants to have an lived experience where they can get the sense of bonds to place or connectedness. It is the significance that sense of place has. If you get sense of place, sense of bonds to place, you are likely to feel much more belongingness and attachment to place, which in turn become a basis for a variety of activities to conserve and improve the place and will develop an ecological self.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2008.11a
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• pp.13-16
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• 2008

This paper is to present the performance data for improved direct setting method using tile bond for application of porcelain tile under 1 percent absorptance. For this purpose, improved direct setting method type 1 & 2(tile bond curing time 0, 24H) were compared with the conventional setting methods(including direct setting method and improved pressure setting method) in the sight of the adhesive stability of porcelain tile. It tested for tiles after 14, 28days under standard condition and severe conditions. The severe conditions were water immersion, heat ageing(70℃) and freeze-thaw cycle. On the basis of test results, the adhesive strength of direct setting method was lowest for the conventional setting methods. But improved direct setting method using tile bonds(A, B) came close to the result of improved pressure setting method using tile bonds.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.261-301
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• 2016

Recently the abusive calls on on-demand bonds have been a critical issue among many engineering and construction companies in Korea. On-demand bond is referred to as an independent guarantee in the sense that the guarantee is independent from its underlying contract although it was issued based on such underlying contract. For this reason, the issuing bank is not required to and/or entitled to look into whether there really is a breach of underlying contract in relation to the call on demand-bonds. Due to this kind of principle of independence, the applicant has to run the risk of the on demand bond being called by the beneficiary without due grounds. Only where the call proves to be fraudulent or abusive in a very clear way, the issuing bank would not be obligated to pay the bond proceeds for the call on on-demand bonds. In order to prevent the issuing bank from paying the proceeds under the on-demand bond, the applicant usually files with its competent court an application for injunction prohibiting the beneficiary from calling against the issuing bank. However, it is in practice difficult for the applicant to prove the beneficiary's call on the bond to be fraudulent since the courts in almost all the jurisdictions of advanced countries require very strict and objective evidences such as the documents which were signed by the owner (beneficiary) or any other third party like the engineer. There is another way of preventing the beneficiary from calling on the bond, which is often utilized especially in the United Kingdom or Western European countries such as Germany. Based upon the underlying contract, the contractor which is at the same time the applicant of on-demand bond requests the court to order the owner (the beneficiary) not to call on the bond. In this case, there apparently seems to be no reason why the court should apply the strict fraud rule to determine whether to grant an injunction in that the underlying legal relationship was created based on a construction contract rather than a bond. However, in most jurisdictions except for United Kingdom and Singapore, the court also applies the strict fraud rule on the ground that the parties promised to make the on-demand bond issued under the construction contract. This kind of injunction is highly unlikely to be utilized on the international level because it is very difficult in normal situations to establish the international jurisdiction towards the beneficiary which will be usually located outside the jurisdiction of the relevant court. This kind of injunction ordering the owner not to call on the bond can be rendered by the arbitrator as well even though the arbitrator has no coercive power for the owner to follow it. Normally there would be no arbitral tribunal existing at the time of the bond being called. In this case, the emergency arbitrator which most of the international arbitration rules such as ICC, LCIA and SIAC, etc. adopt can be utilized. Finally, the contractor can block the issuing bank from paying the bond proceeds by way of a provisional attachment in case where it also has rights to claim some unpaid interim payments or damages. This is the preservative measure under civil law system, which the lawyers from common law system are not familiar with. As explained in this article, it is very difficult to block the issuing bank from paying in response to the bond call by the beneficiary even if the call has no valid ground under the underlying construction contract. Therefore, it is necessary for the applicants who are normally engineering and construction companies to be prudent to make on-demand bonds issued. They need to take into account the creditability of the project owner as well as trustworthiness of the judiciary system of the country where the owner is domiciled.

• Bulletin of the Korean Chemical Society
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• v.33 no.6
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• pp.1823-1824
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• 2012

• Proceedings of the Korean Institute of Building Construction Conference
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• 2021.11a
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• pp.27-28
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• 2021

The search for new corrosion inhibitors for different corrosive mediums is a never-ending task. In the present work, the corrosion inhibition behavior and adsorption mechanism of two novel synthetic thiazolidinedione derivatives noted MTZD and ATZD in 3.5 wt.% NaCl solution on copper were investigated. Electrochemical, scanning electron microscope (SEM), atomic force microscopy (AFM) techniques were used along with first-principles DFT calculations. At maximum inhibitor concentration i.e., 300 ppm corrosion inhibition efficiency reached maximum up to 90% and 96% for MTZD and ATZD, respectively, and thereby followed the order of ATZD > MTZD. The inhibition efficiency increased up to 24 h of immersion, and then decreased after 48h immersion. The potentiodynamic curves suggested that the inhibition action of tested compounds is a mixed type of inhibitor. The first-principles DFT calculations suggested that compounds under investigation formed covalent bonds with Cu(111) surface via reactive sites. SEM and AFM results confirmed the formation of protective barrier that prevent corrosion attack.