• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.54
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• pp.167-190
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• 2012

The purpose of this study is to find out some countermeasure to Korean companies entered Chinese market through analyzing an arbitration case resolved by CIETAC applied of Chinese Commission Agency Law and CISG. China create legal relationship between the principal and the third party under Chinese Consignment Contract Law. Korean companies so make sure whether this Contract is included when they conclude international commercial contract. If yes, they have to prove their recognition for the relationship between the principal and the commission agent when needed. If the parties agreed an additional period of time of delivery and the seller do not deliver the goods within this period, this breach might be regarded as fundamental nature and the buyer could declare the contract avoided. In addition, late delivery might also be regarded as fundamental breach when market price is fluctuated. It is understandable that attorney's fees is recoverable one, but it is not understandable that arbitrator's extra expenses such as travel and accommodation expenses is not recoverable with the reason that arbitrator comes outside of the country.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.67-85
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• 2009

In English Law it seems that it is essential to apply the principle of equilibrium in the contract, however, it does not seemed to apply as the general rule of the principle of contract. Especially it seems that English Court didn't pay attention to the principle of equilibrium in 18th century. If one of the party do not appeal the equilibrium of the contract, it does not make any difference even today. However the Court may cancel or withdraw the construction of contract between the parties where the principle of equilibrium is damaged by fundamental problems like just-price. In French Law it seems that they have more wide definition of the principle of equilibrium. The French Court may consider that the application of good faith is the performance of condition of the contract between the parties and has no power to relieve of one party of his expressed obligations or warranty. In German Law, it seems that the principle of good faith is fundamental to take into account interest of the parties. They may agree to supply information or not to interfere with a commercial agent regarding performance and maintenance of the contract.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.53
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• pp.3-29
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• 2012

This article examines the Practical Suggestions in the Contract for the Turnkey Supply of an Industrial Plant based on a study focused on the commentary of "ICC Model Contract" clause which is encouraged by ICC. Especially practical issues are inquired into on business and legal perspective as follows. First, in regard to supply of technical documentation, equipment and spare parts, it is important to supplier and purchaser to agree on obtaining technical documents necessary for installing and operating plant, and also components necessary for it's maintenance. Second, it is about erection, testing, taking over and training chapter. Both parties need to agree about the process of the arrival of equipments and assembly conducted by the supplier and following examination and also training purchaser to operate it Third, when it comes to price, payment conditions, bank guarantees, parties are to make decision on the pricing, payment conditions and currency of contract-payment. Lastly, it is necessary to reach an agreement of the issue of whether it is to be defined as delay or non-performance of the contract and also it's consequences about rights and obligation.

• Journal of the Korea Society for Simulation
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• v.31 no.1
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• pp.19-27
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• 2022

This study compares and analyzes wholesale(or price-only) contract, revenue-sharing contract, quantity-flexibility contract, and channel-rebate contract in a decentralized supply chain consisting of one supplier and one retailer. By setting the parameters of each coordination contract based on the previous results, we conduct simulations using @RISK for several combinations of these parameters. Under the supply chain coordination, we evaluate the probability of successfully signing a contract and the participant in favor of each contract. As a result, the quantity-flexibility contracts is most advantageous for the retailer and the channel-rebate contracts is most advantageous for the supplier. It revealed that revenue-sharing contracts can be used more flexibly because they can be selected in the widest range to redistribute profits between supplier and retailer.

• Korean Journal of Construction Engineering and Management
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• v.6 no.1 s.23
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• pp.186-194
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• 2005

The purpose of this study is to examine the problems of the regulations regarding the modification of subcontact price. It also suggests several measures to improve the regulations related to the subcontact price adjustment which help to reduce unnecessary claims and commercial disputes. The literature research, structure and context analysis on the subcontract regulation and survey are adopted as basic research methods. The primary findings of this study are summarized as the following: (1) A provision outlining necessary procedures that an owner and a contractor should notify a subcontract or the adjustment of contact price needs to be made. (2) A provision allowing procedures that subcontactor could make the alteration of subcontract agreement and adjustment of subcontact price needs to be made. (3) The terminology like a unit cost and the rate of contact price needs to be clearly defined in order to improve the criterions of the subcontact price adjustment. (4) The criterions and additional expenses that the contractors ate responsible far need to be defined.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5964-5970
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• 2013

The recent budget planning for highway infrastructure implied that the investments for Operation & Maintenance(O&M) became greater than that for new construction. This circumstance made many stakeholders pay attention to the O&M of road infrastructure and adopt other countries' policies and system for effective management. In other countries, most O&M for road infrastructure have been done by private entities using long-term contract and Korea is about to shift from one year contract to long-term contract. The most important parts for the expansion of the long-term O&M contract for road infrastructure are valuation of the O&M contract based on accurate prediction of O&M costs and instrument for proper risk sharing between contracting parties. Thus, this study provides a methodology to estimate a reasonable O&M contract price and a framework to share contract risk between contracting parties using real option. The analysis results showed that the contract price and ceiling and floor conditions for the 20 year-contract of 20 km-highway project were 45.7, 60 and 42.3 billion won, respectively.

• Journal of Distribution Science
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• v.22 no.1
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• pp.95-103
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• 2024

Purpose: Focusing on the complex supply chain operations beyond the simple dyadic relationship, this study evaluates the performance of the revenue sharing contract in three stage supply chain system. Research design, data, and methodology: The optimization model is developed to describe the supply chain system where one manufacturer, one wholesaler, and one retailer exist and pursue the maximum level of their own profits. In the numerical examples of the proposed supply chain model, two types of the revenue sharing contract, pairwise and spanning methods, are tested and their performances are compared with the traditional system. Results: The numerical analysis reveals that both types of the revenue sharing contract outperform the traditional system. All supply chain members can achieve the improved profits only when they determine the proper combination of revenue share ratios and price discount rates. Conclusions: This study finds out that both pairwise and spanning revenue sharing contracts can make the positive outcome that is acceptable to all members in three stage supply chain system. When the proper contract content is agreed among the supply chain members, the revenue sharing contract has the potential to be the practically feasible collaboration program for the multiple stage supply chain system.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1992.04b
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• pp.403-412
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• 1992

This note examines a situation where a risk-neutral insurer and a risk-averse individual (prospective insured) negotiate to reach an arbitration point of the price of insurance over the terms of an insurance contract in order to maximize their respective self-interests. The situation is modeled as a Nash bargaining problem. We analyze the dependence of the price of insurance, which is determined by the Nash solution, on the parameters such as the size of insured loss, the probability of a loss, the degree of risk-aversion of the insured, and the riskiness of loss distribution.

• Journal of Korea Water Resources Association
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• v.32 no.5
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• pp.537-545
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• 1999

This study examines three counterplans for the improvement in price structure of Korean multi-regional water supply system. First, price differentiation between industrial and residential water uses is analyzed using several pricing methods. It has been estimated that the industrial water price by the Ramsey pricing method is needed to be two to two and half times higher than the price of residential water to achieve maximum social welfare. Second, peak-load pricing is then studied to seek for the effectiveness of seasonal differentiation in water price. It has been found that consideration of dam facilities and their functions is the key factor for the effectiveness of the seasonal differentiation in water price. Finally, the discussion about the introduction of contract pricing system to the multi regional water supply system to achieve optimal investment plan for the future water demand is presented. We has found that the introduction of contract pricing system will greatly increase the efficiency in future investment plan of the multi-regional water supply system.

• Korean Journal of Community Nutrition
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• v.10 no.3
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• pp.331-340
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• 2005

The purpose of this study was to provide basic data to improve college food service satisfaction with sanitary, environment and service by comparing 2 contract-managed and 2 self-operated college food services in Daejeon and Chungnam area. According to the results, sanitation and environment satisfaction degrees of contract-managed college food services were higher than those of self-operated food services. The satisfaction degrees with service were also higher in contract-managed food services than self-operated food services except the category of quick food delivery. In all categories comprising the food service satisfaction, the satisfaction degrees were lower in female students than in male students. There were more negative self-perceived clinical symptoms in female students than male students. The higher the negative self-perceived clinical symptoms scores were, the lower the satisfaction degrees with food service were, which suggests that かe health state of students was one of the factors that influenced college food service satisfaction. There was no difference between contract-managed and self-operated food services in terms of satisfaction with overall food taste and overall satisfaction degree. The average satisfaction degree for the contractmanaged food services in terms of price relative to food quality was lower than that for self-operated food services. According to stepwise multiple regression analysis, 'overall food taste', 'price relative to quality', 'kindness of employees', 'coping with proposed opinions' and 'quicknless of food delivery' in decreasing order, were the most relatively important attributes for overall satisfaction. There should be further studies on important management factors to improve satisfaction with sanitary, environment and service by self-operated college food service.