• International Commerce and Information Review
• /
• v.8 no.4
• /
• pp.71-88
• /
• 2006

This article want to discuss on comparative research between CHIPS and Fedwire as the cross-border payment systems which America have and use at present. CHIPS is a New York-based automated private-sector clearing facility for large-dollar transfers. It is a central switch communication and settlement system whose 53 participating banks exchange same-day payment messages over dedicated communication lines linking each one to the CHIPS central computer. On January 22, 2001, CHIPS introduced immediate finality for payment released from the CHIPS queue. Unlike the Fedwire system, The CHIPS system is not a real-time gross settlement system. Instead, CHIPS is hybrid system that uses a computer program to select payment order in a queue for release to the receiving bank. CHIPS are governed by CHIPS Rules and Administrative Procedures. Fedwire system is a nationwide electronic fund-transfer system facilitating same-day transfers throughout the United States. It is a gross settlement system providing immediate credit to the receiving bank's master account. Communicating between a Federal Reserve Bank and Fedwire users can be either on-line or off-line. Fedwire transfers are governed by Subpart B of Regulation J, issued by the Federal Reserve Board, which incorporates U.C.C. Article 4A but preempts or supersedes any of its inconsistent provisions.

• Proceedings of the KSR Conference
• /
• 2007.11a
• /
• pp.500-504
• /
• 2007

Database are developed to control measured settlement data under construction in Gyungbu High Speed Railway from Daegu to Busan. This means that data having different type at different site could be managed in a unified way. The database includes algorithm to evaluate embankment settlement with settlement data at the surface of embankment and ground settlement data. And also, it has a function to analyse the causes of large settlement over allowable level and high settlement speed based on the log data, embankment specification, physical characteristics of embankment materials.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.13
• /
• pp.699-733
• /
• 2000

This article analyzes the state-of-play of WTO dispute settlement for first four and a half years. Remarkable points found on this analysis are as follows: First, the Quad consisting of the United States, the European Community (EC), Canada and Japan has participated in the WTO dispute settlement mechanism more frequently than any other WTO member. Second, among developing country members some leading countries such as Korea, Brazil and India have relied actively upon the mechanism to claim and defend their rights and obligations under the WTO rules. Third, bilateral dispute settlements generally have been preferred to multilateral dispute settlements by the panel or Appellate Body. Fourth, observation of the Appellate Body proceedings well shows WTO members' strategy to use every process available to them. Fifth, the provisions of GATT 1994 have been most frequently invoked by the members. GATS and TRIPS Agreement disputes are mainly involved in developed countries, in particular the U.S. and the EC. Sixth, very high winning ratio in the panel and Appellate Body process indicates that complaining parties review the possibility to get favorable rulings even before referring to the Dispute Settlement Body (DSB) and prepare for the case very thoroughly. Seventh, roughly speaking, disputes were settled within two or three years. Therefore, seeking bilateral dispute settlement can be more advantageous to a complaining party than referring to a panel or an arbitrator because of low costs and short time period in dispute settlement. Finally, the DSB approved retaliatory actions for winning complaining parties against the defending parties who had rejected implementation of its rulings and recommendations. In conclusion, it can be said that the WTO dispute settlement mechanism has been operated very successfully for the first four and a half years. It is hoped that continued study on state-of-play of WTO dispute settlement mechanism will be contributory to improved national interest of Korea.

• The Journal of Society for e-Business Studies
• /
• v.7 no.1
• /
• pp.187-206
• /
• 2002

The purpose of this study is to review the process for the trade settlement system between all parties involved in the commercial transaction under SURF System. SURF application is the latest value added service from bolero.net and a fully automated documentary settlement system. It extends bolero.net's capability to enable trade transactions by providing a delivery versus payment system. It has been designed as a standard, shared, infrastructure component for handling trade settlement within an electronic environment to keep step with the operation of electronic Bolero bill of Lading. It exploits the services provided by the Bolero Core Messaging Platform - secure, guaranteed transactions based on boleroXML standards to provide document compliance services with optional bank guarantees. So, SURF system can automatically check all commonly used trade documents such as commercial invoices, bills of lading and certificates of weight and analysis, etc and supports a full range of settlement options including Open Account, Documentary Collections, Documentary Credit. 58 have key features as follows, ① automatic document compliance checking, ② integrated with the Title Registry, ③ supports various forms of vender financing, ④ governed by a set of legally binding rules, ⑤ fully prepared for Straight-Through-Processing, ⑥ Enabled compliance with UCP 500.

• Smart Structures and Systems
• /
• v.33 no.1
• /
• pp.17-26
• /
• 2024

The new metro crossing the existing metro will cause the settlement or floating of the existing structures, which will have safety problems for the operation of the existing metro and the construction of the new metro. Therefore, it is necessary to monitor and predict the settlement of the existing metro caused by the construction of the new metro in real time. Considering the complexity and uncertainty of metro settlement, a Gaussian Prior Bayesian Emulator (GPBE) probability prediction model based on Bayesian optimization (BO) is proposed, that is, BO-GPBE. Firstly, the settlement monitoring data are analyzed to get the influence of the new metro on the settlement of the existing metro. Then, five different acquisition functions, that is, expected improvement (EI), expected improvement per second (EIPS), expected improvement per second plus (EIPSP), lower confidence bound (LCB), probability of improvement (PI) are selected to construct BO model, and then BO-GPBE model is established. Finally, three years settlement monitoring data were collected by structural health monitoring (SHM) system installed on Nanjing Metro Line 10 are employed to demonstrate the effectiveness of BO-GPBE for forecasting the settlement.

• Geomechanics and Engineering
• /
• v.19 no.5
• /
• pp.447-462
• /
• 2019

The vacuum preloading method has been used in many countries for ground improvement and land reclamation works. A sand cushion is required as a horizontal drainage channel for conventional vacuum preloading. In terms of the dredged-fill foundation soil, the treatment effect of the conventional vacuum preloading method is poor, particularly in Tianjin, China, where a shortage of sand exists. To solve this problem, straight-line vacuum preloading without sand is widely adopted in engineering practice to improve the foundation soil. Based on the engineering properties of dredged fill in Lingang City, Tianjin, this paper presents field instrumentation in five sections and analyzes the effect of a prefabricated vertical drain (PVD) layout and a vacuum pumping method on the soft soil ground treatment. Through the arrangement of pore water pressure gauges, settlement marks and vane shear tests, the settlement, pore water pressure and subsoil bearing capacity are analyzed to evaluate the effect of the ground treatment. This study demonstrates that straight-line vacuum preloading without sand can be suitable for areas with a high water content. Furthermore, the consolidation settlement and consolidation degree system is developed based on the grey model to predict the consolidation settlement and consolidation degree under vacuum preloading; the validity of the system is also verified.

• Korea Trade Review
• /
• v.45 no.2
• /
• pp.177-189
• /
• 2020

The dispute settlement mechanism of the World Trade Organization (WTO) is in great peril. The Appellate Body has ceased to function last December as the United States has blocked the appointment of new Appellate Body members since 2017. The focus of this study is on the examination of US's discontent on the Appellate Body and various efforts to reform the Appellate Body. In a recent report, the US Trade Representative raises its concerns on the Appellate Body including 90 days mandatory deadline, transitional rules for outgoing Appellate Body members, scope of appeal, advisory opinions, precedent, recommendation, and overreach without offering any viable solutions. Some of WTO members and experts proposed several Appellate Body reform measures but agreement between WTO members is unlikely in a foreseeable future. Alternative dispute settlement mechanisms should be seriously considered such as interim appeal arbitration arrangements, separate dispute settlement mechanisms for trade remedies, unilateral retaliatory measures without WTO authorization. Rules-based multilateral dispute settlement system is imperative to small open economies like Korea. The Korean government should actively participate in Appellate Body reform discussions with other WTO members to keep the WTO dispute settlement system from collapsing.

• Steel and Composite Structures
• /
• v.36 no.4
• /
• pp.481-492
• /
• 2020

To study the rail mapped deformation caused by the pier settlement of simply - supported bridges with China Railway Track System III (CRTS III) slab ballastless track (SBT) system under the mode of non-longitudinal connection ballastless track slab, this study derived an analytical solution to the mapped relationships between pier settlement and rail deformation based on the interlayer interaction mechanism of rail-pier and principle of stationary potential energy. The analytical calculation results were compared with the numerical results obtained by ANSYS finite element calculation, thus verifying the accuracy of analytical method. A parameter analysis was conducted on the key factors in rail mapped deformation such as pier settlement, fastener stiffness, and self-compacting concrete (SCC) stiffness of filling layer. The results indicate that rail deformation is approximately proportional to pier settlement. The smaller the fastener stiffness, the smoother the rail deformation curve and the longer the rail deformation area is. With the increase in the stiffness of SCC filling layer, the maximum positive deformation of rail gradually decreases, and the maximum negative deformation gradually increases. The deformation of rail caused by the pier settlement of common-span bridge structures will generate low-frequency excitation on high-speed trains.

• Geomechanics and Engineering
• /
• v.16 no.2
• /
• pp.187-194
• /
• 2018

Application the pile group foundation to reduce overall settlement of the foundation and also avoid a very fruitful settlement of foundations, inconsistent was carried out. In such a case, in event that the Foundation, not as a mere pile group, which as a system consisting of a broad foundation with pile Group, economic design criteria will be provided in spite of high safety. A new approach in the design of the Foundation can be introduced as the piles are just a tool to improve the parameters of soil hardness; that it can work with detachable piles from raft. Centralized arrangement of piles as the most optimal layout of piles in reducing inconsistent settlement, which is the lowest value of resulting layout in this differential settlement. Using the combination of piles connected and disconnected to form the raft, bending moment created in the raft is reduced. It also concentrated arrangements have greatest effect in reducing amount of moment applied to the raft.

• Proceedings of the KSR Conference
• /
• 2008.11b
• /
• pp.796-804
• /
• 2008

Various design factors should be considered in order to apply the concrete slab track system on the soil/rock roadbed. One of the important factors is the settlement of roadbed. This settlement of concrete track should be supervised under the allowable settlement limit. If the settlement of roadbed under the concrete track exceed the allowable limit, the train serviceability will considerably come down and furthermore the fatal disaster may happen. Therefore, in this paper we introduced a digitalized grouting method as a settlement restoration method that can be suitably adopted to the concrete slab track. And we also evaluated the train service stability through the analysis of the track behavior according to the difference of the stiffness between the grouted part and the original roadbed.