• Ocean Systems Engineering
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• v.9 no.1
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• pp.79-95
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• 2019

The material analysis of an offshore structure is generally conducted in the contract design phase for the price quotation of a new offshore project. This analysis is conducted manually by an engineer, which is time-consuming and can lead to inaccurate results, because the data size from previous projects is too large, and there are so many materials to consider. In this study, the piping materials in an offshore structure are analyzed for contract design using a big data framework. The big data technologies used include HDFS (Hadoop Distributed File System) for data saving, Hive and HBase for the database to handle the saved data, Spark and Kylin for data processing, and Zeppelin for user interface and visualization. The analyzed results show that the proposed big data framework can reduce the efforts put toward contract design in the estimation of the piping material cost.

• Journal of Technology Innovation
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• v.15 no.1
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• pp.175-201
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• 2007

Licensing contracts between partners in International Joint Ventures(IJV) have not only aspects of relation contract, which is interdependent and long-term cooperative relationships in interpartner but also aspects of discrete contract which is exposed to opportunistic risk caused by IJV partners who maximize individual profit instead of joint payoff maximization. In this circumstance, appropriate compensation structures such as lump-sum and royalty can reduce conflicts and spur interpartner cooperation. In addition, compensation structures that stipulate each party's rights, duties, and responsibilities under various sets of environmental conditions have strong implications for transaction cost minimization and joint payoff maximization. On the other hands, compensation structures such as lump-sum and royalty in IJV licensing contract have benefits and costs depending on IJV partners uncertainty, partner dependency, and environment uncertainty. Therefore, the purpose of this paper is to empirically show how partner uncertainty, partner dependence and environment uncertainty influence compensation structure chosen by licensor in IJV.

• International Journal of Internet, Broadcasting and Communication
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• v.12 no.3
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• pp.189-195
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• 2020

Smart contract, one of the applications of blockchain, is expected to be used in various industries. However, there is risks of damages caused by attacks on vulnerabilities in smart contract codes. Tool support is essential to detect vulnerabilities, and as new vulnerabilities emerge and smart contract implementation languages increase, the tools must have extensibility for them. We propose a design model for extensible architecture of smart contract vulnerability detection tools that detect vulnerabilities in smart contract source codes. The proposed model is composed of design pattern-based structures that provides extensibility to easily support extension of detecting modules for new vulnerabilities and other implementation languages of smart contract. In the model, detecting modules are composed of independent module, so modifying or adding of module do not affect other modules and the system structure.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.50
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• pp.3-25
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• 2011

The purpose of this paper is to examine the use of LD Clause against the seller's breach of contract in connection with delivering the goods in the international sales contract, and international guarantee system using standby L/C or demand guarantee. For this purpose, the author, first, considered the outline of the buyer's remedies in cases that the seller had not performed his obligations in contract and the difficulties in the buyer's remedies. As alternatives for overcoming the difficulties, this author recommended the LD Clauses (Liquidated Damage Clauses) based on ICC Model International Sales Contract, and explained each Model Clause. To enhance the feasibility of LD Clause, this author suggested the guarantee system, like the standby L/C or demand guarantee. But these guarantee systems have several limitations in practical use. Thus, these guarantee systems would greatly contribute to Korean exportation in the future. The reason is that the Korean export structure would be more complex and the period of sales contract would be longer and longer, which result to in long-terms supply contracts. These changes would require the guarantee much urgently.

• Industrial Engineering and Management Systems
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• v.8 no.4
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• pp.201-212
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• 2009

This study analyzed the structure of pricing in the automobile auction market by using real trade data. We focused on the bidding behavior of bidders and the contract price of exhibits. First, we proposed a relational framework among exhibits, number of bidders, and the contract price. Next, we utilized a neural network model to estimate the number of bidders and the contract price. Subsequently, we investigated the relationship between the number of bidders and the contact price, and evaluated our method through an analysis that employed verifying data. Lastly, we listed our suggestions for bidding in auction markets.

• Proceedings of the KIEE Conference
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• summer
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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 Navigation and Port Research
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• v.44 no.2
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• pp.128-135
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• 2020

Long-term shipping contracts represent the cooperative and coexisting relationships between the shipping and steel industries. Yet, differences between the contract forms for iron ore and steel products have emerged. Specifically, the large proportion of consecutive voyage charters (CVC) is being applied in the iron ore trade, whereas the contract of affreightment (COA) is proportionally higher for shipping steel products. The literature review and in-depth interviews in this study identified through the research model, the characteristics of the shipping and market structure in both markets have significantly contributed to the preference of different long-term contracts. It has been determined that the mutual oligopoly market structure and the characteristics of shipping such as, the small number of suitable vessels in the market, the single fixed load/discharge ports, the long-distance voyages, and the potential risks for fatal accidents because of cargo liquefaction, for the iron ore trade, provide higher contribution to the preference of CVC contracts. In contrast, the consignor oligopoly market structure and the shipping characteristics, such as the greater number of suitable vessels available in the market, the variation in ports, the cargo quantity per shipment, the various load/discharge ports, and the need for experienced carriers for steel product loading in the steel product trade has shown higher preference on the COA contracts as the consignors with superiority over the shipowners, resulting in favorable contract types and conditions for the consignors.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.33-66
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• 2009

Common law makes a distinction between partial breach and material breach. Attempted definitions of material breach are notoriously unsatisfactory, and the concept of partial breach does not necessarily bear an inverse relationship to substantial performance. This study will review the basic structure of common law contract remedies together with how these remedies are reflected in UCC Article 2 for sale of goods contracts. The matter is complicated because availability of remedy depends on the seriousness of the breach, and the right to cure, and (for sale of goods) these in turn depend on whether the contract is an installment contract or a single performance contract. Common law jurisdictions relegate specific performance of contracts to a last place in the hierarchy of contract remedies. Common law lawyers should recognize that this is the result of historical accident and not the product of some kind of superior intellectual effort. Not only is the attitude of civil law systems toward specific performance quite different, but for international sales contracts in developing nations, a remedy system based on the notion that substitute contracts are readily available(and therefore damage remedies are appropriate) is unrealistic. English common law courts were largely restricted to remedies in the form of monetary damages. For that reason the primary contract remedy at common law has never been specific performance. Rather, common law courts have struggled to develop an appropriate measure of monetary damages for breach of contract. Today, specific performance is viewed as an equitable remedy rather than common law. In the United States the dual court system has been abolished by a merger of law and equity courts into a single court structure. However some historical distinction linger on. The most important is that jury trials are generally not available in actions that seek equitable relief. If a plaintiff seeks in personam relief, such as specific performance of a contract, the action will be viewed as equitable and there will be no entitlement to a jury. Further, equitable relief will be granted only in those situations where the plaintiff pleads and proves that the remedy at law is inadequate. The purpose of this study aims to analyze the remedy system of breach of contract of U.K. and U.S. in the international commercial transactions with criterion of commercial rationality.

• Korean Security Journal
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• no.11
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• pp.129-157
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• 2006

With rapid social change, by culminating the social hazards and the safety problems about it are on the increase too. According to the needs for the safety the demand of the private guard & security provided the safety and security service against danger is also increasing. As the need for the safety is increasing, so recently the private guard & security industry is extended. Therefore the purpose of this study is to grasp and carry out researches into the legal structure on the Security contract, is to analyze the formation of contract and find out the ensuing problem in order to prevent or settle the dispute which is apt to occur between the specific client and the security companies. In order to minimize the dispute going with security relationship in particular, it is necessary that one should write down the agreed contents as the document explicitly to make a security contract with the parties. Hereupon in the plan which standardizes the security contract with each parties autonomously, it is suggested that this study should present the model of Dispute Resolution Clause Especially it is the best means that it is amicable consultation or negotiation as the effective way of settlement methods of private dispute arising from the concerned parties. In inevitable case it recommends the method which solves the dispute by means of an arbitration than litigation at administration of justice(in terms of jurisdiction). If the parties wish to settle the disputes by arbitration, they must come to an arbitration agreement in the form of a arbitration clause in the security contract. After the test and evaluation through application utilizing it in actual security field, the security standard contract regulates about it and this terms should widely apply a individual case to whole industry.

• Journal of the Korea Institute of Building Construction
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• v.10 no.5
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• pp.75-86
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• 2010

The contract screening system is being introduced and operated as a model of advance budget reduction for local fiscal efficiency. But as the authority recognizes the contract screening system as a means of budget reduction, and companies recognize it as a means of budget curtailment, a contradictory understanding structure on the contract screening system is being formed. This research was prompted to propose a development method that will enable the contract screening system operating in Jeju Special Self-Governing Province to be appropriately established as a model of advance budget reduction. To achieve this, the operating status of the contract screening system was analyzed, and the recognition level on the contract screening system of the local government and companies was analyzed on the basis of contract screening data.