• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.305-314
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• 2020

This paper investigates the impact of profit and loss sharing (PLS) contracts on non-performing financing of Islamic rural banks as Islamic small banks focus on small and medium enterprises at province level across country. Our study employs panel data, consisting of 142 Islamic rural banks and using quarterly data from 2013Q1 to 2018Q4, and splits them based on the bank's size and geographical area. Both static and dynamic panel regressions are then applied. The results obviously indicate that a high proportion of profit and loss sharing contracts leads to high financing risk. The large Islamic banks encounter a higher non-performing financing stemming from profit and loss contracts compared to small Islamic banks. Profit and loss contracts also produce higher financing risk for Islamic banks outside Java, as those areas are less developed areas than Java itself. A more efficient Islamic bank is less financing risk. Income diversification lessens the impaired financing and, more particularly, large Islamic banks and Islamic banks located in Java much benefit by diversifying income and financing to lower financing risk. Our study suggests that Islamic rural banks may consider the optimal level of profit and loss sharing contracts to minimize financing risk.

• The Journal of Information Technology
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• v.7 no.3
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• pp.83-98
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• 2004

What may be a problem, however, is determining the application to electronic methods of the various rules which the courts have developed for dealing with the consequence of different methods of communicating offers and acceptances. However, it was doubtful that in the law electronic documents may make part of the traditional documents based on paper. The purpose of this thesis, thus is to examine the effectiveness of electronic methods as a means of forming contracts and the some legal problems. Accordingly, The thesis is basically divided into two part. Part one considers a contract for trade is made how, when and where through compare with traditional contracts law and electronic methods. Part two considers and explores the efficiency on the formation of electronic contracts for the sale of goods by On-line.

• Journal of the Korea Society for Simulation
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• v.31 no.1
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• pp.19-27
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• 2022

This study compares and analyzes wholesale(or price-only) contract, revenue-sharing contract, quantity-flexibility contract, and channel-rebate contract in a decentralized supply chain consisting of one supplier and one retailer. By setting the parameters of each coordination contract based on the previous results, we conduct simulations using @RISK for several combinations of these parameters. Under the supply chain coordination, we evaluate the probability of successfully signing a contract and the participant in favor of each contract. As a result, the quantity-flexibility contracts is most advantageous for the retailer and the channel-rebate contracts is most advantageous for the supplier. It revealed that revenue-sharing contracts can be used more flexibly because they can be selected in the widest range to redistribute profits between supplier and retailer.

• Korea Trade Review
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• v.45 no.5
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• pp.117-139
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• 2020

In case of international long-term transactions, there are various risks of economic change of circumstances including skyrocketing price increase and shortage of raw material, as well as force majeure in a general sense. Nevertheless, pretty many of international long-term commercial contracts do not include the provisions of renegotiation and adaptation of the contract. In this case, possibility of renegotiation and adaptation depends mainly on the applicable law. Namely, it may be possible or not, according to choice of law. The reason is that national laws have nuances each other, and most of national courts are traditionally reluctant to accept hardship. and also, provisions of international uniform law (CISG) has ambiguity and inflexibility in relation to the problems of change of circumstances. Accordingly, this paper analyzes comparatively the doctrines and provisions related to renegotiation and adaptation of contracts of the most representative countries such as England, U.S.A., France, Germany as well as provisions CISG and soft law such as PICC. By doing so, the author makes clear which laws of instruments is more flexible or acceptable in allowing renegotiation and adaptation of long-term commercial contracts, and emphasizes on the importance of inclusion of express terms by using other alternative supplementing clauses, as a best solution for settling the problems of legal uncertainty of contract in relation to renegotiation and adaptation.

• Korea Trade Review
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• v.45 no.5
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• pp.279-301
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• 2020

In the absence of any guidance under statutory law, such as the Rules for Construction of Policy, MIA 1906, judges should follow the general principles of interpretation that apply to all contracts. In simple terms, Contra Proferentem Rule means that if the contents of the terms and conditions are ambiguous, they are interpreted against the writer of the terms and conditions. In the Anglo-American Contract Law, the 'default rule' is an important judicial tool that can supplement defects in contract norms and reinforce the principle of private autonomy through gap-filling techniques related to the interpretation of contracts. In Korea, it is sometimes mentioned in case of precedent, and it has been established as a clear rule. This study analyzes the interpretation of terms and conditions is not in the form that the interpretation of other general contracts and other interpretation principles are valid, but contracts based on terms and conditions are also contracts, and as a general rule, the interpretation of terms and conditions is explained like the general contract interpretation.

• International Commerce and Information Review
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• v.15 no.1
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• pp.35-65
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• 2013

In December 2012, the Ministry of Land, Transport and Maritime Affairs and Ministry of Knowledge Economy held a commission and distributed a standardized logistics contract between the shipper and the logistics companies in order to spread and to promote contract standardization. With such background in place, this study examines the leading research on different types and attributions in present logistics contracts in order to propose guidelines for creating contract clauses that would lead to a win-win relationship among the parties involved in the logistics outsourcing relationships. This study further compares and contrasts the concreteness of local and international logistics contracts through case studies, and provides practical thought-provoking points on concretization of clauses on potential risks and additional expenses for local logistics companies when signing logistics contracts. Firstly, the composition and contents of both local and international logistics contracts are similar in the way that both deal with the basic principles between the concerned parties such as the following: contract terms, validity, scope of work, operational procedures, payment terms, and dispute resolutions. Secondly, for flexibility of potential dispute resolution, both logistics contracts define the definition of dispute and follow the classical contractual approach of dispute resolution through third-party arbitration. Thirdly, compared to local contracts, international logistics contracts provide more concretized and specific clauses on the occurrence of potential risks and hazards; on the other hand, compared to international logistics contracts, it seemed that local contracts contained more clauses in favor of the shipper. This research then suggests ideas to eliminate the classic tradition - logistics companies enduring the damages that occur as a result of the structural differences between the shipper and the logistics companies - through efforts to actively negotiate in advance the predictable problems and risks and by reflecting the mutually agreed points in the contract, and further offers guidelines on contract concretization for distribution of standardized logistics contracts in the future.

• The Journal of Society for e-Business Studies
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• v.6 no.1
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• pp.1-16
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• 2001

This paper describes a preliminary investigation of contracts with a view towards automating the process of contract match-making. A novel approach based on exploiting Standard Form Contracts(SFC) is described. The approach is shown to be implementable with current technology. A second approach based on Standard Contract Clauses(SCC) which overcomes some of the limitations of Standard Form Contracts, is briefly outlined. The flexibility offered by this approach however, is accompanied by a considerable increase in the complexity of contract match-making. Both Standard Form Contracts and Standard Contract Clauses based match-making point towards an exciting area of future research.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.23
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• pp.129-153
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• 2004

What can easily be concluded is that the Orgalime's General Conditions will be preferred by contractors to the Silver Book. However, it is probable that for some projects the Orgalime's General Conditions will not be acceptable to employers without significant amendment, particularly to such matters as design obligations, limitation of liability, force majeure and possibly the extension of time provisions. It is doubtful, however, whether the Orgalime's General Conditions will prove to be an alternative to the Silver Book. For projects for which the Silver Book was intended, the Orgalime's General Conditions will usually be unacceptable to employers and leaders. Notwithstanding this, the Orgalime's General Conditions is a welcome addition to the ever-growing suite of international contracts. And I strongly suggest that we must prepare our "General Conditions for Turnkey Contracts", etc. reflecting our law and practices as soon as possible.

• Journal of Arbitration Studies
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• v.22 no.3
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• pp.165-185
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• 2012

Franchising has proved over many years to be a successful commercial vehicle for the international distribution of products and services. However, there has long been missing a user-friendly model contract that would reflect the diversity of international franchising contracts. Because the ICC has drafted a model form of international franchising contracts, taking into account the most commonly encountered clauses in franchising agreements, their model could be used as a checklist of the core obligations of a cross-border franchise contract. Because there is no internationally agreed-upon uniform legislation on franchising, parties must rely on national laws and regulations applicable to the international franchise (when such laws and regulations exist) and should therefore very carefully draft stipulations for the legal status of the contract. This study has been intended to cite some provisions for striking a fair balance between the interests of the franchisor and those of the franchisee and for avoiding unfair trade acts in international franchising contracts.

• Industrial Engineering and Management Systems
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• v.12 no.3
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• pp.224-233
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• 2013

In supply chain management, the supply contract can induce collaboration and coordination among the supply chain members in order to optimize supply chain performance. Numerous supply contracts have been examined; however, some difficulties related to the application of these contracts still occur. One of the solutions is to apply the composite supply contract which can assist in the supply chain coordination. This research examines the composite contract of the revenue sharing and quantity flexibility contracts in a two-stage supply chain, which comprises a retailer and a supplier. In this research, a mathematical model of the composite contract is developed; then, the applicability of the proposed composite contract is examined by investigating its capability in terms of supply chain coordination and profit allocation. In the numerical experiments, the composite revenue sharing-quantity flexibility contract showed that it is superior to both component contracts in terms of supply chain coordination and profit allocation among supply chain members.