• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.18
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• pp.189-218
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• 2002

The EPC/Turnkey Contract goes to the extreme in allocating risks to the contractor and depending on the types of project, this may be regarded as unacceptable. It has also gone to the extreme in the extent to which the contractor is responsible for the specification and design of the Works. The employer is not responsible for correctness of any information provided by him nor for correctness of any specification or other matter included in the Employer's Requirements, except the definition of the intended purpose and criteria for testing and performance. With such conditions it is surprising that the employer is entitled to interfere in the contractors performance to an extent that is close to what is norm for a construction contract with employer design and with normal risk allocation. The combination of risk allocation and inappropriate administrative provisions makes the EPC/Turnkey Contract a document that will meet severe resistance from contractors. It is also likely that employers will see the risks and difficulties from their own perspective. It is a fiction that the EPC/Turnkey Contract will give the employer a contact with a certainty of final price and completion date. It is not a fiction that the EPC/Turnkey Contract carries many seeds for disputes between the parties. The Orange Book has become an accepted document even if it clearly contains some weaknesses. Some of these have been corrected in the Plant Contract. In my opinion FIDIC should let users become more familiar with the Plant Contract as a follow up to the Orange Book.

• The Journal of the Korea Contents Association
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• v.13 no.12
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• pp.412-421
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• 2013

The purpose of this paper is to recognize an importance of its practice by rightly understanding mindfulness, and to find one method to solve the success of Information Systems outsourcing through mindfulness practice. To do this, this paper proposes and analyzes a theoretical model consisting of factors such as contract completion, relationship strength, mindfulness practice, trust level and Information Systems outsourcing success. Data was collected using the survey method, and was analyzed using the PLS method. The results of this empirical study are summarized as followings. First, mindfulness practice has positive effects on Information Systems outsourcing success as well as trust level. Second, both contract completion and relationship strength have positive effects on mindfulness practice. The findings will provide basic data for understanding the role of mindfulness practice in Information Systems outsourcing success.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.160-168
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• 2007

Conflicts of interest and independent agenda of the parties brought together for implementation of a construction project often leads to dispute in Contract and claim situations. Construction Industry is notorious for claim that is managed on its arising and there lacks an endeavor to minimize the breeding grounds through efficient planning and alignment to purpose, of all contract-documents. There failure of a concerted effort entails wastage of resources, delayed completion of facilities and stained relationships of parties when collide in mistrust in contract to win over the other. There needs a focus on the claim breeding issue and establish an effective mechanism to deal with disputes in urgency. Claim occurs mostly during the construction phase. But the seeds of claim and nutrients essential for development are contained in the contract documentation and the information supplied or not in pre-contract phase. Opportunity to prevent nutrients for seed of Claim comes to an end once tender-documents are finalized, the contract is awarded and established or not a mechanism for dealing with claim situation. The processes presented here would help in minimizing the breeding grounds and emergence of disputes during progression of works and dealing with eventualities in forceful manners for finding a resolution most effectively in relevant time.

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2005.11a
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• pp.359-362
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• 2005

In Korea, condominium apartment was supplied 50 years ago. However, the problems related to contract and selling in lots still happens. Most of these problems is due to be made a contract and selling in lots before completion of condominium. For solving these problems, it is necessary for throughgoing selling in lots and administrative guidance in time for development. Because of the problem after the selling in lots become involved not only selling in lots of developer and the contract with purchaser, but also condominium management and repair of defect processing system. As a result of consideration to development control and administrative guidance in Hawaii State, it may be had some effects like an appropriate management system, consumer protection and consumer education.

• Journal of the Korea Institute of Building Construction
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• v.18 no.4
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• pp.355-361
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• 2018

Many defects are occurring in apartments, the main residential area in Korea. This is due to a lack of construction skills and a lack of management. As many apartments are provided to buyers, the dispute over defects after completion is increasing rapidly. The Housing Act was amended so that local governments could order contractors to repair defects. However, even if defects are resolved after a defect is generated, it is not a fundamental solution that can be satisfied because buyers have to endure the pain caused by the defect. So, it is necessary to protect the interests of buyers by fundamentally reducing defects in apartments. Therefore, in this study, it was suggested that the asymmetry of the information about the apartment buyers should be resolved at the time of sale of the apartment, the final drawings should be a contract document, the review period of the apartment house supervision should be secured, the appropriate supervisory fee should be secured at the time of contract change and the payment procedure should be improved.

• International Journal of Highway Engineering
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• v.13 no.3
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• pp.65-73
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• 2011

Recently, researches to introduce the performance warranty contract are in progress for quality improvement of road pavements. The performance warranty contract is a type of contract in which contractors guarantee to maintain certain level of performance during a period from completion of construction. The contract use in Europe and the U.S is being increased because it has been known to contribute to improvement of structure quality, reduction of life cycle cost, development of construction techniques, and etc. The research on performance indicators, threshold values, and warranty durations is essential to effectively introduce the contract in Korea. In this study, literatures on the performance warranty contract for concrete pavements of the Minnesota, Indiana, and Florida of the U.S. were reviewed. Major distresses influencing the pavement performance were investigated and analyzed in the jointed concrete pavement sections of 21 Korean expressway routes to be compared to the performance indicators, threshold values, and warranty durations of the states. More accurate comparison is expected by investigation in planned sections for a long time.

• Korean Journal of Construction Engineering and Management
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• v.2 no.4 s.8
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• pp.69-79
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• 2001

Characteristics of Contactor's Defect Liability was too many discussed. But it's not clearly defined yet. Because recent Government Construction Projects are very complex and executed through long time, too many conflicts were appeared related to Contactor's Defect Liability. Therefore to analyse and to resolve the conflicts legal aspects of Contactor's Defect Liability stated in Civil Law and Government Contract Act was systematically compared. The result of this research is as follows : (1) Characteristic of Contactor's Defect must be regarded as a breach of Contract and be an incomplete contract implementation. (2) To decide the range of Damage, Characteristic of Defect must be regarded. (3) Contactor's Defect Liability must be effectual from the day of delivery. (4) Retainage must be added to secure the completion during the Contract Period and Defect Repairing Liability must be omitted in the Contract performance Security.

• Korea Real Estate Review
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• v.27 no.3
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• pp.103-118
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• 2017

Under the ownership pre-sale system in the South Korean apartment market, developers can sell apartment ownerships as soon as they start to construct an apartment complex. In the South Korean apartment market, people call this kind of ownership "Bun-yang right." There is a time difference between ownership sale and apartment completion under the ownership pre-sale system. The pre-completion apartment ownerships can be resold to third parties until the apartment complexes are completed, which is called "Geon-mae" of the Bun-yang right. Using survival analysis, this research analyzed the elapsed time between ownership purchase and resale to a third party using 48,316 apartment units nationwide in the 192 complexes supplied from 2000 to 2016. Specifically, this study analyzed the influence of the real estate policy, contract term, location, apartment complex, and unit characteristics on the elapsed time between ownership purchase and resale to a third party. The empirical analysis revealed that the real estate policy and contract term characteristics have a significant effect on the elapsed time between ownership purchase and resale to a third party. Also, this study confirmed that the product characteristics, such as the location and apartment complex and unit characteristics, have an influence on the elapsed time between ownership purchase and resale to a third party.

• Plant Journal
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• v.5 no.1
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• pp.51-59
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• 2009

The global plant construction market has grown dramatically since 2000. As the market grows, domestic EPC contractors are expanding to meet its needs and have made great strides in terms of economic indicators from a decade ago. Larger projects involve a number of risk factors, such as volatile oil prices, however, and thus require quantitative and elaborate project management techniques for the ultimate success of a project's profitability. In addition, many Korean companies face difficulties in predicting potential risks and problems due to a lack of experience in dealing with the global market trend toward projects based on the Cost-re(Cost Reimbursable) contract as opposed to those based on the LSTK(Lumpsum Turnkey) contract. This study will examine methods and types of man-hour management according to plant project contract types. Further, it will explore the man-hour management system for successful completion of projects by satisfying the client's needs and enhancing the convenience in engineers' using the system. Additionally, this study will analyze the current system and identify its problems to address potential problems.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.141-144
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• 2013

This paper presents a system called a Cash-flow based Construction Schedule Optimization system(CfSO). The existing CPM effectively handles schedule and cost management. However, funding strategy should be considered to obtain maximum profit and to progress a project favorably. One of measures is to coordinate the contract terms between owner and subcontractors (or suppliers). Contractor may decrease the interest cost attributed to project financing by adjusting the timing of cash-inflows and cash-outflows. It is an excellent method maximizing profits. This paper presents a method to estimate the amount of a cash-flow occurred periodically by integrating the terms of contract into scheduling. The proposed method is implemented as a system prototype in Microsoft Excel. This system provides a user an automated tool that identifies an optimal schedule that secures maximum profit by adjusting start and finish times of non-critical activities' free-floats without affecting on the project completion time. This system supports a project manager to establish an optimum project schedule and identifies profitable contractual conditions against to a construction owner.