• Journal of Environmental Science International
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• v.15 no.2
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• pp.107-119
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• 2006

This research reviews the current state of the environmental problems in Northeastern Asia and emphasizes the necessity of building a sustainable regime of multilateral environmental cooperation. The Process and problems of multilateral environmental cooperation system are briefly discussed. This research stresses the importance of contractual environment that enhances the level of enforcement of international environmental agreement. Within the contractual environment, international regimes can support the parties of conference to build up administrative capacity and scientific technology to cope with transborder pollution problems. Some policy proposals such as cooperation among central governments and local governments, and the participation of NGOs are suggested.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.26
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• pp.173-199
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• 2005

The MIA 1906, s.78(4) provides that it is the duty of the assured and his agents, in all cases, to take such measures as may be reasonable for the purpose of averting or minimising a loss. In many cases the statutory duty will be unimportant, since rights, duties and liabilities declared by the Act or implied into marine insurance contracts by law may be modified by agreement, and many contracts contains a sue and labour clause which effectively reproduces and/or to modifies the statutory duty. The effect of such contractual provisions will, of course, be a matter of construction, though modern sue and labour clauses tend to reflect the principles contains in section 78. However, it must not be assumed that the terms of all contractual sue and labour clauses are, or will remain, identical, either with each other or with the statutory duty. The purpose of this study is to clarify the ambit of sue and labour.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.800-807
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• 2009

The limited public funds available for infrastructure projects have led governments to consider private entities' participation in long-term contracts for finance, construction, and operation of these projects to share risks and rewards between the public and the private. Because these projects have complicated risk evolutions, diverse contractual forms for each project member to hedge risks involved in a project are necessary. In light of this, Build-Operate-Transfer(BOT) model is considered as effective to accomplish Public Private Partnerships(PPPs) with a characteristic of an ownership-reversion. In BOT projects, the government has used such an incentive system as minimum revenue guarantee(MRG) agreement to attract the private's participation. Although this agreement turns out critical in success of BOT project, there still exist problematic issues in a financial feasibility analysis since the traditional capital budgeting theory, Net Present Value(NPV) analysis, has failed to evaluate the contingent characteristic of MRG agreement. The purpose of this research is to develop real option model based on option pricing theory so as to provide a theoretical framework in valuing MRG agreement in BOT projects. To understand the applicability of the model, the model is applied to the example of the BOT toll road project and the results are compared with that by NPV analysis. Finally, we found that the impact of the MRG agreement is significant on the project value. Hence, the real option model can help the government establish better BOT policies and the developer make appropriate bidding strategies.

• Journal of Arbitration Studies
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• v.12 no.2
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• pp.303-336
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• 2003

Incorporation of an arbitration clause by reference to other documents occurs in many international business transactions. The reference is either to another document that contains arbitration clause or to trading rules which contain the arbitration clause, without the main contract mentioning that arbitration has been agreed upon. In fact, incorporation by reference in to a contract of an arbitration clause set forth in another agreement is deemed valid in any number of circumstances, even when the parties to the two contractual instruments are not the same. Difficulties arise when, instead of an express arbitration provision, a contract contains a clause which refers to the trading rules of a certain trade association, so-called external arbitration clause. The U.S. courts which will presume that the parties intended to arbitrate under a particular set of rules when they expressly mentioned arbitration in their agreement, have sometimes refused to enforce contract clauses that do no more than refer to particular trading rules, even if these rules contain provisions binding the parties to arbitrate their disputes. The courts in such cases tend to be careful in determinig whether intent to arbitrate is present. In maritime contracts, the arbitration clause in a charter party is often referred to in the bill of lading. Such reference usually is held binding upon the parties to the contract of carriage, their knowledge of such practice being presumed. A nonsignatory may compell arbitration against a party to an arbitration agreement when that party has entered into a separate contractual relationship with the nonsignatory which incorporates the existing arbitration clause. If a party's arbitration clause is expressly incorporated into a bill of lading, nonsignatories … who are linked to that bill … may be bound to the arbitration agreement of others. An arbitration clause in a charterparty will be incorporated into a bill of lading if either - (a) there are specific words of incorporation in the bill, and the arbitration clause is so worded as to make sense in the context of the bill, and the clause dose not conflict with the express terms of the bill; or (b) there are general words of incorporation in the bill, and the arbitration clause or some other provision in the charter makes it clear that the clause is to govern disputes under the bill as well as under the charter. In all other cases, the arbitration clause is not incorporated into the bill.

• Journal of Arbitration Studies
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• v.19 no.3
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• pp.25-42
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• 2009

That occur in international trade disputes between the parties without resorting to a court trial on the basis of principle of government by the parties to resolve the dispute resolution in general (Alternative Disputes Resolution: ADR) agreed to, reconciliation, coordination, mediation and other methods are. Here, unlike arbitration and other dispute resolution arbitrator, the court confirmed the arbitration award came from the judge and the same shall become effective in doing international commerce dispute resolution methods are widely used. Arbitration Agreement is a contractual dispute, regardless of whether a certain law there arise about the relationship between the parties, Currently exists, future conflicts can arise in whole or in part by the arbitration agreement is to be resolved. Arbitration agreement include: the effects of out of contract arbitration proceedings, the court does not want the progress of the dispute referred to arbitration proceedings to the effect, and the presence of the parties to the arbitration agreement does not claim to knowing the defense plea that Appeals ticket of destruction that have the effect of demurrer, that the arbitration agreement are rebuttal to the rebuttal of prozesshindernde Einrede and the mediation of a plea on the merits when the first defense must be submitted to the arbitration proceedings in which the applicant until the arbitration award determined that the property dispute to court for water conservation measures to dispose of the watch was in effect for arbitration in the contract. In addition, the arbitration agreement and the court sentenced the same kinds of effects that resolved the final effect, especially at the same time the effect of foreign recognition and enforcement of the decision regarding the New York Convention arbitration award based on the recognition and enforcement of domestic and international effects are being recognized. Consequently, the arbitration agreement to take effect a valid arbitration agreement exists is determined by whether or not staying. Therefore, agreements between individual university entrance exams based on the company signed a contract regarding the effect of arbitration first, associated with individual university entrance exams, and the leading research and analysis, review, and examine the general concept of the arbitration agreement after the arbitration agreement between the parties focuses on information about the effects of study to contribute to the activation of the arbitration system is aimed at the individual university entrance exams.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.99-124
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• 2013

International commercial arbitration is a specially formed mechanism for the final and binding settlement of disputes arisen between contracting parties regarding procedures, structures or other contractual relationship agreed by them. It is a resolution system which is processed autonomously by arbitrators who are appointed by contracting parties without involving the national court. If the contracting parties want to settle their disputes by arbitration, there must be a valid agreement. With a valid agreement, the most important concern is which law(called as the substantive law) should be applied in order to determine the rights and obligations of both contracting parties in relation to the dispute. At this point, the substantive law is really important because it is applied to the dispute itself directly during proceedings as well as it plays an crucial role in scrutiny and enforcement of arbitral awards. This article discusses about the substantive law under international commercial arbitration, specially focusing on the regulations of the ICC rules of arbitration, which is the most widely used all over the world and UNCITRAL Model law, which most countries' rule and laws are based on. By discussing how these rules and regulations should be interpreted and applied, it is expected to provide practical help to practitioners when they agree on an arbitration agreement.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2015.11a
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• pp.62-63
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• 2015

In this paper, to prevent overspending of the CM Fee, Agent CM for the normal work-oriented, Willing to separate order model being used in the construction, using a multi-national grouping Go to offer the right company, a number of groups according to the appropriate CM Fee setting is aimed to suggest a reasonable basis. This paper does not use the domestic point of order characteristic of the model, and using a different theory of affinity grouping projection method is presented. The main disadvantage of the domestic order model because it is a contractual relationship, the contractual relationship as unified as possible by the most reasonable way of construction and construction capabilities and commercialization agreement upon the ability of companies also expect to be very helpful. The grouping by using the multi-order construction of the separation problem of the increase and thus the management object construction type administration was to solve the problem.

• Journal of Arbitration Studies
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• v.28 no.1
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• pp.99-123
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• 2018

Korean businesses engaging in transactions with U.S. entities are increasingly favoring arbitration clauses to address unexpected disputes. How best ought the parties' arbitration contractual terms be drafted to avoid lengthy, protracted and expensive legal disputes? Authors examine the public policy favoring arbitration through the U.S. Federal Arbitration Act. Korean litigants seeking a "Motion to Compel Arbitration" rely on arbitration clauses designed to address four factors U.S. courts use to evaluate the enforceability of arbitration contract clauses. What role does U.S. state court jurisdiction hinder or help Korean businesses contracting with U.S. business entities located within certain boundaries? What is the effect of an arbitration clause that designates the Korean Commercial Arbitration Board in Seoul to arbitrate? All cases analyzed entail Korean business entities. Eleven cases demonstrate the results of seeking motions to compel arbitration in U.S. courts. Three cases illustrate motions to compel arbitration drafted to use the Korean Commercial Arbitration Board in Seoul. The results provide Korean businesses and legal practitioners insight into addressing the specific goals of including contractual arbitration clauses to enhance their international commercial interests in the United States.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.62
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• pp.33-53
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• 2014

This study examines the seller's liability for defects in title of goods under SGA. If the contracting parties choose SGA as a governing law, they should pay attention to whether a contractual stipulation for defects in title of goods is a condition or a warranty. It is because SGA divides contractual terms into a condition and a warranty. And its effects regarding a breach of a condition or a warranty are different. Under SGA s 12(1) as a condition, in a contract of sale, the seller has a right to sell the goods at the time of contract, and in the case of an agreement to sell, he will have such a right at the time when the property is to pass. Under SGA s 12(2) as a warranty, there is an implied warranty that (a) the goods are free, and will remain free until the time when the property is to pass, from any charge or encumbrance and (b) the buyer will enjoy quiet possession of the goods as long as the buyer retains an interest in the goods. But the seller will not be liable if the third party unlawfully interferes with the buyer's possession.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.64
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• pp.3-37
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• 2014

The purpose of this paper is to examine thoroughly on passing of risk in contracts for the international sale of goods. Articles 66~70 of the CISG contain provisions on passing of risk. Article 66 states the main effect of passing risk to the buyer. Article 67~69 determine the decisive point in time which the risk passes from the seller to the buyer and article 70 attempts to explain the relation between passing of risk and fundamental breach of contract by the seller. As in the case corresponding Incoterms rules, the main issue to be resolved is which party should bear the economic consequences in the event that the goods are accidentally lost, damages or destroyed. Many cases also apply CISG articles 66~70 to contracts in which parties not agree on the use of trade terms such as CIF, CFR, FOB and FCA in Incoterms[R] 2010 Rule that provide for when the risk passes. In order to minimize disputes that may arise under contract, when drawing up a contracts for the international sale of goods, the specifics of agreement should be clearly stipulated. Consequently, the parties of contracts for the international sale of goods should take adequate measures, and it is required to prepare the contracts clearly as the specific terms to prevent and resolve contractual disputes on passing of risk.