• Journal of the Chungcheong Mathematical Society
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• v.26 no.4
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• pp.787-791
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• 2013

In this paper we present one factor model of commodity prices with a single jump regime-switching process. And we derive an analytic formula for pricing futures contracts when the parameters of commoditiy process have governed by a Markov regime-switching process.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.25
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• pp.3-40
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• 2005

Many Korean construction companies have been performing a variety of overseas construction projects since the 1970s. It is unfortunate that in many cases they have had to suffer big losses caused by errors and defects in the design and construction of the projects. In the author's opinion, however, there were losses that could have been avoided if they had understood better the feature and content of the particular construction contract. Few lawyers and scholars in Korea have been interested in the research and study of international construction contracts. This is mainly because they do not have access to practical sources outside of Korea for them to research and study since the contracts undertaken have been dealt with by law firms in other jurisdictions to which the disputes apply. This article is aiming primarily at the introduction of the issues which the practitioners are likely to confront in the process of reviewing and performing the international construction contract. In some cases solutions are sought about these issues based upon the FIDIC standard terms and conditions, the actual experience of practice, and UNIDROIT Principles, etc. It is reasonable to say that all the issues related to the international construction contract cannot be covered in a short article like this. The author wishes this article could induce subsequent studies on international construction contracts for further research. It has to be noted that from time to time Korean construction practices have been compared to the international ones for better understanding. This article mostly includes cases where the Korean construction companies go overseas for their projects, while there are some cases where foreign developers and financial investors participated in domestic projects in which international construction contracts forms were adopted. A few precedent domestic writings about international construction contracts seems to lack emphasis on the points that there are several standard construction contract forms and that they are different. The differences are mainly in accordance with who bears the design responsibility, how the owner has to make progress payments to the contractor and who the funding source for the project is. This article tries to make it clear that there are significant differences between the standard contract forms, e.g. a simple construction form, a design-build form and an EPC/turnkey form of contract. Again, the author hopes that this article can arouse the interest in the international construction contracts from both academic and practical fields, so that many subsequent advanced articles can help our construction industry become much more competitive in the world through awareness of the methods of procurement and administration of the contracts.

• Journal of Distribution Science
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• v.13 no.11
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• pp.47-58
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• 2015

Purpose - This study aims to seek determinants of department store sales commission rates under consignment contracts based on transaction cost theory, the power-dependence view, and the resource-based view. A consignment contract is a unique contract where the retailer, over a given period, takes possession of goods owned by a supplier, promotes the sales of these goods, and receives a profit share from their sales. Under this contract, the supplier owns the goods until they are sold. In department stores in South Korea, over 70% of overall sales comes through consignment contracts. In other words, this is the most popular contract agreement between large retailers and vendors in South Korea. Consignment contracts yield high profits to department stores with minimal sales uncertainty, stock cost, and marketing investment. Many suppliers believe the consignment contract commission rates are too high. However, department stores disagree. They state that the commissions are not high as they generate new value for the suppliers by accumulating up-to-date merchandise and supporting various marketing programs on their behalf. Recently, consignment contracts have been critically examined and scrutinized by politicians, mass media, and the public of Korea. This study further intends to derive implications reflecting both buyer and seller perspectives as well as offer insights to policy makers in making appropriate decisions. Research design, data, and methodology - To verify the proposed research model and test hypotheses, the authors selected 164 suppliers, which currently have relationships with department stores. This study carefully investigated the reliability, content validity, convergent validity, and discriminant validity of the proposed model. The data were analyzed using SPSS 18.0 and AMOS structural equation modeling program Results - For the transaction cost theory and the power-dependence view, the results indicated that product diversity and demand volatility had a positive impact on the sales dependence on a department store. Dependence in turn had a positive effect on the sales commission under the consignment contract. Based on the resource-based view, the department store's marketing capability, the supplier's perception toward merchandising, and supporting activities could enhance the department store's channel leadership in the buyer-seller relationship. Subsequently, the channel leadership had a positive effect on the sales commission. However, product complexity had no relationship with department store dependence. Conclusions - This is the first empirical research that investigates the determinants of sales commissions under consignment contracts in the domestic retail industry. This study reveals several theoretical and practical implications for both marketing scholars and marketers. In terms of theoretical implication, this study integrated and enlarged certain theoretical background, such as transaction cost theory, the power-dependence view, and the resource-based view, to explain the determinants of sales commissions under consignment contracts that include sales revenue. From a business management viewpoint, this research offers useful insights for policy makers by applying two different perspectives, both the manufacturer and the retailer, in terms of the sales commission issue under a consignment contract.

• The Journal of Information Technology
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• v.1 no.2
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• pp.103-118
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• 1998

The contract for the International Sale of Goods is a contract of sale of goods between parties of business in different countries beyond tariff line. In principle, the formation of contracts for the international sale of goods is conventional made through offer and acceptance. Though this principle outwatdly looks simple, They turn out complicated problems as to what is offer or acceptance, especially as to the exact time that contracts go into effect. For that reason, the parties who conclude an international Sales contracts effectively are must understand perfectly in the legal commercial aspects offer or acceptance that become basic elements in the formation contracts for the International Sale of Goods. So, In the thesis I tried to explain principles on the Effective Formation in Contract for the International Sale of Goods based on Revision UCC.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.19
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• pp.169-190
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• 2003

Uniform Computer Information Transactions Act (UCITA) for e-commerce in non-UCC and non-UETA transactions, promulgated in 1999. The Act Drafted by the National Conference of Commissioners on Uniform State Laws. UCITA applies to contracts to license or buy software, contracts to create computer programs, contracts for on-line access to databases and contracts to distribute information over the Internet. UCITA does not apply to goods such as television sets, stereo equipment, airplanes or traditional books and publications. Goods generally remain subject to UCC Article 2 or Article 2A. Many transactions may include more than computer information. If that transaction covers non-goods subject matter, UCITA applies only to the part of the transaction which is computer information and other law applies to the other subject matter. In the event the other subject matter is goods, UCC Article 2 or 2A applies to the goods subject matter and UCITA applies to the computer information part. UCITA is coordinated with existing Articles 2 and 2A, so coverage of each to part of the transaction will be facilitated. With respect to other subject matter (primarily services) UCC Articles 2 and 2A have worked in mixed transactions with the common law applicable to the services.

• International Commerce and Information Review
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• v.11 no.1
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• pp.45-66
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• 2009

Licensing of information is the standard of the computer information business today. The huge bulk of vendors license their computer information products. The Uniform Computer Information Transactions Act(UCITA), therefore, does not originate licensing contracts. UCITA was developed to provide basic, recognizable default rules for the existing licensing activity that goes on and expands as commerce in computer information expands. UCITA's rules govern licensing of contracts for computer information from formation through performance, including remedies if there is a breach of contract. Included in UCITA are rules for warranties, both implied and express, and rules pertaining to risk of loss in a computer information transaction. Most of the rules in UCITA are the traditional and familiar rules of contract from the law of sales and from the common law, but adapted to the special nature of computer information licensing contracts. Freedom of contract is a dominating underlying policy for UCITA, exactly as that principle is the foundation for the law of commercial transactions, generally, and exactly as that law has served all commercial transactions in the United States and has contributed to the economic growth and health of the United States.

• Journal of Arbitration Studies
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• v.21 no.1
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• pp.157-181
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• 2011

The term of defense procurement is used indifferently from defence acquisition. It consists of two sectors : domestic defense procurement and foreign defense procurement. For efficient and transparent defense procurement, Defence Acquisition Program Law in Korea suggests some principles including the purchase of domestically manufactured munitions in the first instance, and the Defense Acquisition Program Administration(DAPA)'s direct procurement of munitions, etc. By reviewing the characteristics, process, current situation and model contracts of defense procurement, it is found that domestic procurement contracts only propose the legal approach instead of arbitration and foreign procurement contracts suggest confusedly both the legal approach and arbitration for amicable disputes settlement. Therefore, it is quite recommended for arbitration organizations such as the Korean Commercial Arbitration Board(KCAB), the Korean Arbitrators Association(KAA), and the Korean Association of Arbitration Studies(KAAS) to foster a variety of strong awareness campaign, education and consulting programs, etc. for the popular use of arbitration clause. It will contribute to settle any disputes and controversies between the parties more speedy, economically and rationally, thereby reducing the costs, time and pains for solving them.

• Journal of Arbitration Studies
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• v.19 no.3
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• pp.121-139
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• 2009

In this rapidly changing knowledge-based society, technology is regarded as one of critical factors for competitive edge and sustainable growth. Therefore, most of countries in the world have strengthened their efforts to promote industrial technology innovation and development. In Korea, KIAT(Korea Institute for Advancement of Technology) newly established m May 2009 as a quasi-government institute with the integration of six organizations including KTTC(Korea Technology Transfer Center) has played a crucial role in transferring and commercializing industrial technologies between public and private sectors. Generally, technology transfer and commercialization have been conducted by the contracts which are very detailed, complex and diverse. To solve any disputes and controversies between the parties, it is essential to make a prior agreement on the amicable settlement by the use of Arbitration Clause. By reviewing the characteristics, process, current situation and model contracts of domestic technology transfer in Korea, it is quite recommend for arbitration-related organizations such as KCAB(Korean Commercial Arbitration Board) to foster the strong campaign for the popular use of Arbitration Clause. It will contribute to settle any disputes and controversies between the parties more speedy, economically and rationally, thereby promoting the technology transfer and commercialization in Korea.

• Journal of the Korea Institute of Military Science and Technology
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• v.17 no.4
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• pp.492-500
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• 2014

The defense industry export of Korea has been steadily risen since 2006. It is attained $340million, the highest export amounts ever, in 2013. As the defense industry export increase, Defense Acquisition Program Administration (DAPA) built defense industry export and import management system to assist export and to protect defense technologies. In this paper, we study factors to activate the defense industry export and import management system using Technology Acceptance Model(TAM) in compulsive usage environment. The significance of this study is as follows: First, we prove the reliability and feasibility of measurement variables in defense industry of compulsive usage environment. Second, we suggest factors to activate the defense industry export and import management system. Third, we present methodology to find factors in computation systems of public institute using TAM.

• Journal of the Korean Society for Library and Information Science
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• v.57 no.1
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• pp.435-456
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• 2023

This study aims to check whether e-book purchase contracts have sufficient requirements to serve as legal basis for e-book lending outside the library, and also to understand the current status and characteristics of the library's e-book purchase contracts. To this end, the legal and technical environment related to e-book lending was reviewed, and the elements that must be included in the license contract were summarized as the legal basis for e-book lending. Based on this, it was analyzed whether these requirements were properly reflected in actual contract cases. For three years from 2020 to 2022, the actual 43 contracts that were bid through the Korea On-line E-Procurement System were inspected, and then problems were pointed out, and improvement measures were proposed.