• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.53
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• pp.207-229
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• 2012

In IP 7 and LCCP 201, Law Commission considers the insured's duty of good faith after the formation of the contract. This article intends to review and analyse the legal implications of proposals in IP 7 and LCCP 201. The results of analysis are following. First, Law Commission propose to end the remedy of avoidance under MIA 1906 section 17, because avoidance of past claims is unprincipled, impractical and unnecessarily harsh. Secondly, LC proposes that an insured who makes a fraudulent claim should forfeit the whole claim which the fraud relates, but that the fraud should not invalidate previous and legitimate claims. Thirdly, LC proposes to introduce a statutory right for the insurer to claim damages for the reasonable, foreseeable costs of investigate a fraudulent claim in specific circumstances and that damages would be limited to those cases where the insurer can show an actual, net loss. Finally, LC provisionally propose that an express fraud clause should be upheld in business insurance, whereas in consumer insurance, any term which purports to give the insurer greater rights in relation to fraudulent claims that those set out in statute would be of no effect.

• Journal of Arbitration Studies
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• v.32 no.4
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• pp.103-141
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• 2022

Traditionally, schedule analysis in Korea has been used, mainly through the Critical Path Method, to evaluate the claim for extension of time and/or the amount of liquidated damages for delay. Critical path method, however, cannot identify the delay event and its impact occurred in non-critical path especially in multi facility projects. In multi facility projects that comprise several independent but related facilities or structures, each facility has its own facility critical path the duration of which will be impacted by facility specific critical delays. Thus, only through the non-critical delay analysis along with the critical delay analysis damages not attributable to contractors may be remedied in full. Because all the records and pictures can reveal what has actually happened in post contract review, only the retrospective analysis rather than the prospective analysis based on the assumptions can establish the cause and allocate the each parties' responsibilities appropriately.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.103-152
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• 2000

English contract law has traditionally taken the view that it is not the duty of the parties to a contract to give information voluntarily to each other. In English law, one of the principal distinctions between insurance contract law and general contract law is the existence of the doctrine of utmost good faith in insurance law. The doctrine gives rise to a variety of duties, some of which apply before formation of the contract while others apply post-formation. This article is, therefore, designed to analyse the overall structure and problems of the doctrine of utmost good faith in English marine insurance law. The results of analysis are as following : First, the requirement of utmost good faith in marine insurance law arises from the fact that many of the relevant circumstances are within the exclusive knowledge of the assured and it is impossible for the insurer to obtain the facts to make a appropriate calculation of the risk that he is asked to assume without this information. Secondly, the duty of utmost good faith provided in MIA 1906, s. 17 has the nature as a bilateral or reciprocal, overriding and absolute duty. Thirdly, the Court of Appeal in Skandia held that breach of the pre-formation duty of utmost good faith did not sound in damages since the duty did not arise out of an implied contractual term and the breach did not constitute a tort. Instead, the Court of Appeal held that the duty was an extra-contractual duty imposed by law in the form of a contingent condition precedent to the enforceability of the contract. Fourthly, the scope of the duty of utmost good faith is closely related to the test of materiality and the assured is required to disclose only material circumstances subject to MIA 1906, s. 18(1) and 20(1). The test of materiality, which had caused a great deal of debate in English courts over 30 years, was finally settled by the House of Lords in Pan Atlantic and the House of Lords rejected the 'decisive influence' test and the 'increased risk' test, and the decision of the House of Lords is thought to accept the 'mere influence' test in subsequent case by the Court of Appeal. Fifthly, the insurer is, in order to avoid contract, required to provide proof that he is induced to enter into the contract by reason of the non-disclosure or misrepresentation of the assured. Sixthly, the duty of utmost good faith is, in principle, terminated before contract is concluded, but it is undoubtful that the provision under MIA 1906, s. 17 is wide enough to include the post-formation duty. The post-formation duty is, however, based upon the terms of marine insurance contract, and the duty lies entirely outside s. 17. Finally, MIA 1906, s. 17 provides expressly for the remedy of avoidance of the contract for breach of the duty. This means rescission or retrospective avoidance of the entire contract, and the remedy is based upon a fairly crude 'all-or-nothing' approach. What is needed in English marine insurance law is to introduce a more sophiscated or proportionate remedy.

• The Korean Society of Law and Medicine
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• v.8 no.2
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• pp.69-118
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• 2007

In providing general medical treatments, the medical service contract between the patient and the doctor is the mutually responsible onerous contract. However, the nature of the mutually assumed contract standings of the patient and the doctor has been changing since the implementation of the national health insurance program. For instance, besides the cases of beyond excessive medical charges and medical negligence, if the doctor charged for his/her medical treatments violating the post-treatment/nursing cover criteria, the overpaid medical charge, regardless of being collected with the patient's consent, has to be refunded back to the patient. Medically needed aspects, treatment results, and unfair benefits favoring the patient are not at all taken into consideration in the health insurance scheme. This makes it easier for patients to get refunds for their share of the medical payments by involving the Health Insurance Review & Assessment Service or the National Health Insurance Corporation, without engaging in civil law suits (for reimbursement claim) against doctors. In other words, the doctor's responsibility to provide medical treatments and the patient's responsibility to pay for the medical treatment provided within the contractual realm are being demolished by the administrational arbitration of the National Health Insurance system. The basic rights of medical service providers, and the patient's right to choose are as important constitutional rights, as the National Health Insurance program, which is essential in the social welfare system. Furthermore, the development of the medical fields should not be prevented by the National Health Insurance system. If the medical treatment services can be divided into necessary treatments, general treatments, and high quality treatments, the National Health Insurance is supposed to guarantee the necessary and general treatments to provide medical treatments equally to all the insured with limited financial resources. However, for the high quality treatments, it is recommended that they should not be interfered by the National Health Insurance system, and that they should be left to the private contract between the patient and the doctor.

• Environmental and Resource Economics Review
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• v.10 no.2
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• pp.259-279
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• 2001

This paper investigates the optimal ratio of the ex post cost settled in the total cost paid to the facility-operating agent and the size of compensation for demand promotion efforts made by the trustee. We have extended McAfee and McMillan(1986)'s principal-agent model by incorporating incentives for the demand promotion efforts. We show that cost reducing effort is negatively related with the ratio of the ex post cost settled in the total cost. In addition, the optimal level of demand promotion effort is determined by the size of the compensation and the ratio of the ex post cost settled. A simulation study confirms our findings from a theoretical model.

• East Asian Economic Review
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• v.24 no.4
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• pp.441-468
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• 2020

Capital inflows have a strong presence that influences destination countries' development of institutions, which can in turn help resuscitate a stopped economy and re-attract capital that was lost during crises such as the recent public health crisis. While the previous literature emphasizes the mechanism that foreign investors press or even threaten the local government for change, this paper explores empirically whether institutional improvement can be achieved through the channel that host countries voluntarily reform institutions in anticipation of potential investments predicted by the exogenous geographical and cultural characteristics of the recipient countries. Given that countries with better institutional quality can accumulate larger FDI stocks, we still find that the need for more FDI, in contrast to FPI and debt, gives higher incentives to host countries to strategically improve their institutions before seeking capital overseas. Moreover, the predicted FDI exerts more prominent impacts on institutions on constraining elite than those involved in launching a business, enforcing contracts, and protecting properties. The results imply that a long-run plan for upgrading elite constraint institutions is crucial for a post-pandemic FDI reboot.

• The Journal of Korean Academic Society of Nursing Education
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• v.11 no.2
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• pp.127-134
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• 2005

Purpose: The purpose of the study was to develop a cooperative clinical nursing education model in response to the challenge to provide quality clinical instruction for nursing students. Method: A hypothesized model was developed based on literature review and Cho's partnership model of preservice teacher. Final model was refined with cooperative committee meetings, workshop and post clinical education meetings. Results: A Cooperative clinical nursing education model was developed with three phases(collaboration, planning, redefinition of major roles) and ten constructs(organization of cooperative committee, goal setting, partnership contract, planning objectives, and operating manual). Conclusion: The Cooperative clinical nursing education model support the need for continued collaborative partnership between nursing college and hospitals to foster quality clinical instruction.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.145-150
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• 2013

As a recent global trend, the majority of mega-size plant projects are delivered through EPC (Engineering, Procurement and Construction) contracts, where a single contract is awarded for engineering, procurement, and construction. Under this contracting mechanism, it is challenging for contractors to carry out the projects under traditional project management processes used in design-bid-build projects. A new EPC Plant, the POSCO Special Steel Plant in Changwon, was built successfully at the beginning of 2012 and it is currently in full-scale production. The project has encountered a number of major difficulties however, with some technical and managerial issues through its development process. As summarized in this paper, the authors (as project participants with the contractor) investigated it as a post construction analysis and recorded the Lessons-learned for future project management improvement.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.133-160
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• 2009

In International trade the buyer and seller are normally separated from on another not only by distance but also by differences in language and culture. It is rarely possible for the performance of obligations to be simultaneous and the performance of contracts therefore calls for trust in a situation in which the parties are unlikely to feel able to trust each other unless they have a longstanding and successful relationship. Thus the seller under an international contract of sale will not wish to surrender documents of title to goods to the buyer until he has at least an assurance of payment, and no buyer will wish to pay for goods until he has received them. A gap of distrust thus exists which is often bridged by the undertaking of an intermediary known and trusted by both parties who will undertake on his own liability to pay the seller the contract price in return for the documents of title and then pass the documents to the buyer in return for the reimbursement. This is a common explanation of the theory behind the documentary letter of credit in which the undertaking of a bank of international repute serves as a "guarantee" to each party that the other will perform his obligations. The independence principle, also referred to as the "autonomy principle", is at the core of letter of credit or bank guarantee law. This principle provides that the letter of credit or bank guarantee is independent of the underlying contractual commitment - that is, the transaction that the credit is intented to secure - between the applicant and the beneficiary ; the credit is also independent of the relationship between the bank and its customer, the applicant. The most important exception to the independence principle is the doctrine of fraud in the transaction. A strict interpretation of the rule that the guarantee is independent of the underlying transaction would lead to the conclusion that neither fraud nor manifest abuse of rights by the beneficiary would constitute an objection to payment. There is one major problem related to "Independent guarantees", namely abusive or unfair callings. The beneficiary may make an unfair calling under the guarantee. The countermeasure of beneficiary's unfair calling divided three cases. First, advance countermeasure namely by contract. In other words, when the formation of the contract, the parties must insert the Force Majeure Clause, Arbitration Clause to Contract, and clear statement to the condition for demand calling. Second, post countermeasure namely by court. Many countries, including the United States, authorize the courts to grant an order enjoining the issuer from paying or enjoining the beneficiary from receiving payment under the guaranty letter. Third, Export Insurance. For example, the Export Credit Guarantees Department is prepared, subject to certain conditions, to cover the risk of unfair calling. Of course, KEIC in Korea is cover the risk of the all things for guarantees. On international projects, contractor performance is usually guaranteed by either a standby letters of credit or Independent guarantee. These instruments will be care the parties.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2008.11a
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• pp.5-12
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• 2008

The construction of Pusan National University Yangsan Hospital is a new construction of a medical town in Yangsan. It is a case that CMr participated in the project from planning to post-completion. It shows an actual proof of Construction Management business applied CM by each phase. In this case, CMr selected the design-build contractor in the planning phase and technically performed CM businesses in every single phase such as design and construction schedule management regarding application of Fast Track technique, procurement management and contract administration in phases based on the Fast-tract; technique, design review, VE in the design phase, change order management in the construction phase and operating and maintenance in the post-construction phase. This study would go far toward applying CM to Mega Turnkey projects by analyzing the problems of CMr's practical application to the project and providing guidelines for effective and efficient CM business implementation especially in the Turnkey projects.