• Title/Summary/Keyword: Contractual Parties

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A Study on the Delay Claim in Construction Projects (계약공사기간 연장에 의한 클레임 처리방안)

  • 노병옥;이상범;이호일
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2001.11a
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    • pp.93-98
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    • 2001
  • If the construction delays are occurred during the project execution, the contractual parties should inquire the delay causes and the contractual obligation. Due to the compensation of damages, the interested parties and the contractual parties are placed on the adverse situation. For reasonable of the claim and dispute, the contractual parties are needed the objective and systematic procedure method to analyze the delay. The purpose of this study is to propose a formal process model considering the case of construction delay-claims.

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Construction Contract Management Framework Using the Blockchain Technology (블록체인 기반의 스마트 건설계약 프레임워크)

  • Chui, Jinrui;Moon, Sungwoo
    • Journal of KIBIM
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    • v.11 no.1
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    • pp.1-10
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    • 2021
  • Blockchain is a secure technology that enables transactions between parties without risking data corruption. Besides cryptocurrencies, blockchain technology is being widely adopted in various forms by diverse industries. One promising application is construction contracts. Given that construction projects are executed under strict contractual requirements, blockchain technology-based contracts can ensure that contractual requirements are executed among parties to the contract. The objective of this study is to apply blockchain technology to smart construction contracts and determine their potential feasibility in construction management. In this study, a prototype smart construction contract is presented and its applicability is explored. We conclude that smart construction contracts can be effective as a contractual tool to enhance payment flows in the construction process.

Case Study on the Legal Effects of Letters of Intent (양해사항확인장의 법적 효력에 관한 사례 연구)

  • Choi, Myung-Kook
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.32
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    • pp.3-27
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    • 2006
  • The Pennzoil case and the SME case illustrate the difficulties which originate from inadequate drafting of letters of intent. In both cases the judges had to face the crucial question as to whether or not a given letter of intent had a binding nature; they had in other words to decide whether the wills expressed in such letters still belonged to the pre-contractual stage, or whether their incorporation into a pre-contractual document meant that negotiations were over and binding obligations had already arisen for the parties. In other words, some problems may occur when a party has documented a stage in the negotiations by letters of intent. The letters may well explicitly spell out if, and to what extent, the parties should be bound by what they have already agreed or to carry on negotiations in order to reach the final contract. But if the letters are silent, some problems would arise. Contracting parties are, therefore, well advised to spell out if, and to what extent, they should be bound by such preliminary agreements. Here again, it might be prudent to explicitly set forth that the parties should not be bound until there is a final written contract signed by authorized representatives of the parties but that they shall abstain from such measures which may defeat their stated objective to reach final agreement, e.g. by diminishing the value of performance under the contemplated contract.

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A Comparative Study on the Seller's Duty to Deliver the Goods in Conformity with the Contract in the Sale of Goods (국제물품매매거래에서 매도인의 계약적합성물품 인도의무에 관한 비교연구)

  • Oh, Won-Suk;Lee, Byung-Mun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.37
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    • pp.3-33
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    • 2008
  • This study primarily concerns the seller's duty to deliver the goods in conformity with the contract under the United Nations Convention on International Sale of Goods(1980) in comparison with the Draft Principles of European Sales Law. It describes and analyzes the provisions of the CISG as to the seller's duty, focusing on main controversial issues among scholars in their application. It also attempts to compare the rules of the CISG with those of the Draft PESL and to evaluate them in light of the discipline of comparative law. This is for the purpose of facilitating the systematic development and reform of one jurisdiction by any solution from the other jurisdiction found by the comparative study. In addition, this study provides legal and practical advice to the contracting parties when they intends to insert the CISG or the Draft PESL in their contract as a governing law. The comparative study particularly focuses on the following aspects; first, requirements for conformity with the contract which deals with the concept of conformity with the contract, contractual requirements agreed between contractual parties, and implied requirements otherwise not agreed between contractual parties, second, the time when the goods must be in conformity with the contract, third, exclusions of the seller's duty to deliver the goods in conformity with the contract.

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The Language of Arbitration Agreements and Availability of Class Arbitration: Focusing on the U.S. Supreme Court's Lamps Plus, Inc. v. Varela Decision

  • Jun, Jung Won
    • Journal of Arbitration Studies
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    • v.31 no.3
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    • pp.25-42
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    • 2021
  • Arbitration is an alternative dispute resolution mechanism based on the parties' agreement to resolve any disputes parties may have by arbitration rather than litigation in court. Parties' consent to arbitrate, which must be manifest in the parties' arbitration clause or agreement, is the foundation for arbitration; thus, the language of an arbitration agreement is often of utmost importance in determining the intent of the parties regarding many aspects of arbitration proceedings, such as, the scope of arbitral proceedings, arbitral seat, and authority of arbitral tribunals, among others. Recently, the U.S. Supreme Court held in Lamps Plus, Inc. v. Varela (2019) that ambiguity in arbitration agreement as to availability of class arbitration should be resolved in favor of individual arbitration, and therefore, class arbitration would be precluded. Such holding was met with criticism by four separate dissenting opinions, in which the dissenting Justices have disagreed with the majority's interpretation of the arbitration agreement at issue, as well as, its rejection of application of state law in resolving contractual ambiguity. This article analyzes the Supreme Court's decision and reviews the Court's approach in construction of the arbitration agreement. Nevertheless, because the Supreme Court declined to provide clear guidelines as to precisely what contractual basis is required to permit class arbitration, either silence or ambiguity in arbitration agreements will be resolved by disallowing class arbitration.

A Study on the Contractual Waiver of Article 52 ICSID Convention (ICSID 협약 제52조의 계약상 포기에 관한 연구)

  • Kim, Yong-Il;Hong, Sung-Kyu
    • Journal of Arbitration Studies
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    • v.28 no.1
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    • pp.3-26
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    • 2018
  • This article examines whether parties may agree to contractually waive the right to bring annulment proceedings. Alternately it looks at whether certain grounds of annulment may be waived. The ability for parties to resolve this issue contractually by waiving this element of Article 52(1)(b) ICSID offers a potentially powerful solution. For parties to agree beforehand to the circumstances where tribunals have not 'manifestly exceeded their power' could allow them to remove the unpredictability of annulment on this foundation. Even in the event that an ad hoc committee is against the validity of waiver, it may be possible for a party to frame this restriction as an interpretative agreement by the parties rather than strictly as waiver of a ground of annulment. Ultimately, the wish to enter into such an agreement would likely only be driven by a few exceptional commercial need or prior negative experience with the remedy of annulment. In that cases, and depending on the nature of the specific concern with annulment, a limited waiver or interpretative agreement on certain Article 52(1) ICSID grounds may certainly be appropriate.

A Comparative Legal Study on the Battle of Forms (서식전쟁에 관한 비교법적 연구)

  • Oh, Se Chang;Park, Sung Ho
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.61
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    • pp.57-90
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    • 2014
  • International sales contract, in general, is concluded through the exchange of written forms which contain each of their own business terms and conditions among the contractual parties. To illustrate, A sends the other an offer on A's general terms and conditions of business and B accepts the offer subject to the use of B's own general terms and conditions. Where the two sets of terms and conditions do not coincide, the question may arise whether the parties(A and B) have contracted and, if so, whose general terms and conditions apply. This situation is referred to as "the battle of forms". This article would try to make, in terms of the battle of forms, a comparison between the classical perspectives and opinions which are based on the principle of the English Common Law and the modernistic perspectives and opinions which are applied to the provisions in the UCC, CISG, and PICC. Therefore, the aim of this article is to provide the increase self-consciousness with respect to the battle of forms between the contractual parties that may frequently happen in the international business transactions and will pave the way for further research in the future.

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A Study on "ICC Force Majeure Clause 2003" in International Sales Contract -Focused on comparison with the related provisions under CISG, PICC, PECL and the force majeure clause in Model International Sale Contract (ICC Force Majeure Clause 2003에 관한 연구 -계약관련 국제무역법규 및 ICC 국제모델매매계약상의 관련조항과의 비교를 중심으로-)

  • Huh, Jae-Chang
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.33
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    • pp.221-243
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    • 2007
  • A party to a contract is bound to perform its contractual duties. But outside events may make performance impossible, physically or legally. In such a situation a party may wish to plead "force majeure" as an excuse for failure to perform. The laws of most countries have provisions which dealt with force majeure. These provisions, however, vary from country to country and may not meet the parties' requirement in international contracts. Therefore, parties to international contracts are frequently in need of contract clauses on force majeure. There are many force majeure clauses in standard forms or individually negotiated. The ICC has drawn up provisions which aim at providing assistance for parties when they are making contracts. The force majeure clause grants relief from contractual sanctions and includes provisions for suspension and termination of contract. The purpose of this study is to examine "ICC Force Majeure Clause 2003" in the international sales contract. For this purpose, firstly this study deals with the major contents of the ICC Force Majeure Clause 1985 and 2003. Secondly this study considers the related provisions under CISG, PICC, PECL and the force majeure clause in Model International Sale Contract. Thirdly this study compares ICC Force Majeure Clause 2003 with the relative provisions under CISG, PICC, PECL and the force majeure clause in Model International Sale Contract. It should be noted that the parties often need to adapt the content of this clause so as to take account of the particular circumstances of the individual contract. This paper contributes to help the parties to a contract to draft the meaningful "Force Majeure Clause" containing more precise and elaborate provisions.

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Some Problems relating to Use of Letters of Intent in International Contracts (국제계약에 있어서 의향서의 사용과 관련한 문제점)

  • Choi, Myung-Kook
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.51
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    • pp.55-78
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    • 2011
  • This paper has derived some problems relating to the use of letters of intent which are common occurrence in the international contracts after considering its nature and legal issues. As reviewed before, some problems may occur when a party has documented a stage in the negotiations by letters of intent. Such documents may well explicitly spell out if, and to what extent, the parties should be bound by what they have already agreed or to carry on negotiations in order to reach the final contract. But if the documents are silent, some problems would arise. Contracting parties are therefore well advised to spell out if, and to what extent, they should be bound by such preliminary agreements. Here again, it might be prudent to explicitly set forth that the parties should not be bound until there is a final written contract signed by authorized representatives of the parties but that they shall abstain from such measures which may defeat their stated objective to reach final agreement, for example, by diminishing the value of performance under the contemplated contract.

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A Comparative Study on the Conformity of Goods in the Contracts for International Sale of Goods - focused on comparing CISG with SGA (국제물품매매계약에서 물품적합성에 관한 비교연구)

  • Oh, Won-Suk;Min, Joo-Hee
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.51
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    • pp.79-99
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    • 2011
  • This study describes the seller's duty to deliver the goods in conformity with the contract. The purpose of this study is twofold: to analyze the seller's principal duty, comparing the United Nations Convention on the International Sale of Goods(CISG) with Sale of Goods Act(SGA) and to provide legal and practical advice to contracting parties who consider CISG or SGA as a governing law. This paper first considers the requirements for the conformity with the contract, which means contractual requirements agreed between parties and implied requirements not agreed between parties. Following this, the exclusion of the seller's duty to deliver the goods required by the contract is described. Finally, this paper ends up giving contracting parties legal and practical advice.

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