• 전기학회논문지P
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• 제59권3호
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• pp.263-267
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• 2010

Although electricity market structures may be different from each country, they have a long-term forward market and a short-term spot market in general. Particularly, a bilateral contract transacted at a long-term forward market fixes the electricity price between a genco and a customer so that the customer can avoid risk due to price-spike in the spot market. The genco also can make an efficient risk-hedging strategy through the bilateral contract. In this paper, we propose a new mechanism for deriving the optimal bilateral contract price using game theory. This mechanism can make the customer reveal his true willingness to purchase so that an adequate bilateral contract price is derived.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2004년도 하계학술대회 논문집 A
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• pp.701-703
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• 2004

Although the electricity market structure worldwide may be different in kinds, there generally exists long-term forward market and short-term spot market. Particularly, the bilateral contract in long-term forward market fixes the price between a genco and a customer so that the customer can avoid risks due to price-spike in spot market. The genco also can make an efficient risk-hedge strategy through this bilateral contract. In this paper, we propose a new mechanism for evaluating the optimal bilateral contract price using game theory. This mechanism makes a customer reveal his/her own willingness to purchase electricity so that a fair bilateral contract price can be derived.

• Journal of Electrical Engineering and Technology
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• 제4권3호
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• pp.346-352
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• 2009

The eventual goal of this paper is to help the generating companies and load-serving entities to choose appropriate relative levels of interconnected system versus bilateral trades while considering risk, and economic performance. In competitive power markets, electricity prices are determined by balance between demand and supply in electric power exchanges or bilateral contracts. The problem formulation is bilateral contract incorporated into Multi-area unit commitment with import/export and tie-line constraints. This proposed method considers maximizing own profit or minimize the operating cost among the generating companies in multi-area system. The feasibility of the proposed algorithm has been demonstrated using IEEE system with four areas and experimental results shows that proposed method is reliable, fast and computationally efficient

• 대한전기학회논문지:전력기술부문A
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• 제52권10호
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• pp.616-623
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• 2003

Competition among electric generation companies is a major goal of restructuring in the electricity industry, The trading system in an electricity market has been one of the most important issues in deregulated electricity market. This paper deals with comparisons of the major two types of the trading system: compulsory pool market and bilateral contract market. The two trading systems are compared quantitatively from the viewpoint of consumer's surplus and social welfare, This paper, also, proposes a unified model of Cournot and Bertrand for analyzing the mixed trading system of pool market and bilateral contract market. Nash equilibrium of the unified model is derived by criteria for participating in bilateral contract market. Numerical results from a sample case show that a mixed trading system of pool market and price-competitive bilateral market is beneficial to consumer from the view points of consumer's surplus.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2003년도 하계학술대회 논문집 A
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• pp.609-611
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• 2003

This paper presents a method for a congestion management in the competitive market which is modeled as the multiple bilateral transaction. Traditionary, the congestion management for the multiple bilateral transaction is accomplished through the process of adjustment bids. It is necessary in for the market entity to submit their price information when the congestion is occured. Finally, the ISOs can be blown about the approximated contract price of participants from the price of adjustment bids. However, the entities can submit only the amount of their contract to ISOs and ISOs are required the method to manage the congestion only by the contracted quantity. Therefore, this paper presents a method for congestion management by curtailing the only contracted quantity of market entities. To evaluated the above problem, we suggest Bilateral Transaction Distribution Factors(BTDFs), which is the sensitivity of line flow with curtailment of transactions. Using this factor, we studied about congestion management when the objective function is to minimize total curtailment of transaction.

• 한국디지털건축인테리어학회논문집
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• 제12권3호
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• pp.15-25
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• 2012

The purpose of this research is to explore the necessity of utilizing IPD methods along BIM based project operation in domestic construction market. IPD is relatively new project delivery methods focused on the collaboration of stockholders based on BIM technology. IPD is focused on the multiparty contract process rather than multiple bilateral contracts under Traditional Project Delivery Methods. The research method is to investigate the IPD standard contract documents, successful IPD project cases in the U.S. The research results are as follows. The model for an IPD standard contract needs to be developed for the application to a real construction projects. Various types of IPD model contract need to be developed to accommodate the requirements of industry and stockholders in Korea.

• 한국프랜차이즈경영연구
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• 제1권1호
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• pp.105-131
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• 2010

본 연구는 프랜차이즈 산업에 있어 가맹본부의 효율적인 가맹점 관리 시스템 도입을 위한 새로운 실무적 관점의 연구이다. 프랜차이즈 가맹본부와 가맹점사업자 간의 계약에 의해 관계가 형성되고 이후 지속적으로 계약에 의해 규정받게 된다. 따라서 가맹본부는 다수의 가맹점사업자를 효과적으로 통제하고 관리하기 위해서 계약의 체계적인 관리가 필요하고, 외부적으로는 정부의 규제정책에 합법적이고 능동적으로 대처할 필요가 있다. 이를 위하여 프랜차이즈 기업의 "전사적 계약관리(ECM : Enetrprise Contract Management)"라는 개념을 정립하여 가맹점 관리의 시스템화를 촉진시키고자 하였다. 이를 실무적 차원에서 효과적으로 도입하기 위하여 프랜차이즈 전문 IT프로그램인 ECM 기반의 "프랜차이즈 계약관리·슈퍼바이징 시스템(Franchise Contract Management·Supervising System) - TruFCM"을 개발하였다. 이 프로그램을 통해 프랜차이즈 기업의 지속가능경영의 실현과 프랜차이즈 산업의 질적인 발전에 기여하고 하는 데 본 연구의 의의가 있다 하겠다.

• 무역상무연구
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• 제14권
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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.

• 무역상무연구
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• 제58권
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• pp.313-328
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• 2013

Today FTA extends over the world and Korea as a main member of international trade is no exception. In the past Korea, as the developing countries, has made endlessly effort to induce foreign investment from foreign enterprise and/or government to be a truly OECD countries today and made it. Korea's trade economy was reached 1 trillion dollars in 2012. Now we have to find a new way to produce, process, procure goods from foreign investment and also need to protect our profit and/or rights within foreign judicial territory. There are two method to protect foreign enterprise or government. First they rely on general principles in WTO or Bilateral Investment Treaty that the principle of equality, national treatment, and most-favored-nation treatment, you can create a predictable environment to protect foreign enterprise and/or government. Second they need to incorporate contractual clauses in their agreement such as stabilization clause, force majeure, arbitration, governing law or sovereign immunity. Of course there are many things left behind to consider I hope it will be helpful to those who prepare foreign investment contract.

• 통상정보연구
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• 제12권4호
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• pp.429-453
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• 2010

The purpose of this paper is to examine the significances of choosing the place of arbitration, the principles of fixing the place, which the major international arbitration institutions(including the ICC, LCIA, AAA, CIETAC and so on) have in their arbitration rules, and the methods of drafting the place of arbitration in arbitration agreements. When the contract parties have agreed on the place of the arbitration, the institutions have no role regarding the selection of the place of arbitration. But the parties have not agreed on the place of arbitration, it is fixed by the rules of selected institution, by considering the lists of criteria including local laws, N.Y. Convention, neutrality, convenience and so on. This author suggested four alternatives on how to designate the place of arbitration, and advantages and disadvantages of each one: the place of claimant, the place of respondent, the place agreed on in advance in Bilateral Agreement between two Arbitration Institutions established in two countries or the third country. In conclusion, the decision of all elements in the international contract is greatly influenced by the power of negotiation, and the place of arbitration in arbitration agreement has a lot of influential significances on both parties when resolving the disputes. So it is advisable for the parties to fix the place according to the global standard(the place of respondent), the arbitration rules of major international arbitration institutes and the result of the negotiation between parties.