• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.57
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• pp.3-34
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• 2013

In the international sales contract, long-term contracts often face hardship in fulfilling the original contract terms by relevant parties due to rapid change and uncertainty of political and economic circumstance. In this case, party who faces hardship of fulfillment terminates contract or demands adaptation to contract condition but if opponent doesn't accept this, it proceeds to commercial dispute needing legal interpretation. Generally it is wise to set forth governing law in contract between parties in the case of international contract, for legal stability. One of universal governing law which relevant parties select by agreement to solve economical hardship of fulfillment is PICC. PICC defines the hardship in detail for renegotiation on following hardship of fulfillment unexpected. In the case of failing renegotiation, Court(arbitral tribunal) conducts termination to contract or adaptation to contract condition through arbitration or mediation. In conclusion, when signing international long-term contract, it is desirous to handle dispute effectively by inserting provisions which can deal with economical hardship in contract or defining PICC as governing law in the case of hardship incurred. It is because it is realistic to handle dispute smoothly to the extent that both parties can be satisfied in the case of hardship incurred, though international contract should be fulfilled.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.369-376
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• 2020

Credit capital from customers' savings deposit (CSD) of banks has an important meaning in the business activities of the banking industry. There are many factors that influence the CSD satisfaction with banks. Certain changes have been made when there are fluctuations due to COVID-19. The article is based on an analysis assessing the factors that influence the CSD satisfaction of Vietnamese commercial banks in the context of COVID-19. The authors use a sample of 1,639 CSD. The results show that there are three variables that positively affect CSD satisfaction, including legal provisions of the Central bank (Legal), policies and mechanisms of commercial banks (Policy), and products of commercial banks (Product). Accordingly, in order to contribute to strengthening this capital mobilization of savings deposit, the Central bank of Vietnam needs to play a pivotal role in the regulations of the banking system to ensure its stability; control well monetary policy, interest rates, and inflation to keep a stable position in the economy; and provide timely financial support packages to enhance the confidence of CSD. Moreover, Vietnamese commercial banks need flexible policies and mechanisms to stimulate CSD; strengthen support on deposit rates for CSD; and diversify products to easily adapt to each CSD's situation.

• Asia-Pacific Journal of Business
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• v.13 no.3
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• pp.119-134
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• 2022

Purpose - The purpose of this study was to expound the packaging framework system(PFS) under international trade rules. Design/methodology/approach - This study analyzed packaging framework system and packaging regulations and technical standards in international regulations and major countries and classified these in some standards Findings - First, the study provides packaging provisions associated with packaging regulations and technical standards (PRTS). Then, the basis of PFS in international trade rules was proposed; it is believed that the PFS was composed of packaging legal system in WTO institutional framework (WTO-PLS), international organization packaging standard system (IO-PSS) and major countries or regions packaging regulatory system (MCR-PRS). Secondly, this paper expounded relations and legal characteristics of the three packaging systems. Finally, This study investigated PRTS coverage under technical barriers to trade (TBT) and Sanitary and Phytosanitary measures (SPS). Research implications or Originality - The regulations associated with PRTS have played a key role in challenges to merchandise trade in international trade. This study has significance in classifying packaging related reticulations into several criteria unlike previous studies. Therefore it is hope that this study can provide a supplementary document for the existing research of PRTS.

• International Journal of Computer Science & Network Security
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• v.22 no.12
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• pp.125-131
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• 2022

The diversity and complexity of criminal, administrative and civil cases resolved by the courts makes it difficult to develop universal automated tools for the analysis and evaluation of justice. However, big data generated in the scope of justice gives hope that this problem will be resolved as soon as possible. The big data applying makes it possible to identify typical options for resolving cases, form detailed rules for the individualization of a court decision, and correlate these rules with an abstract provisions of law. This approach allows us to somewhat overcome the contradiction between the abstract and the concrete in law, to automate the analysis of justice and to model e-justice for scientific and practical purposes. The article presents the results of using dimension reduction, SHAP value, and p-value to identify, analyze and evaluate the individualization of justice and the differentiation of legal regulation. Processing and analysis of arrays of court decisions by computational methods make it possible to identify the typical views of courts on questions of fact and questions of law. This knowledge, obtained automatically, is promising for the scientific study of justice issues, the improvement of the prescriptions of the law and the probabilistic prediction of a court decision with a known set of facts.

• Journal of Arbitration Studies
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• v.34 no.2
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• pp.3-26
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• 2024

The insolvency proceedings, which are collective debt processing procedures that equitably distribute properties of the debtor who is declared insolvency to multiple creditors, and the arbitral proceedings that resolve disputes over individual legal relationships between the parties differ in nature. However, there are no express provisions that directly regulate the legal relationships when the party to an arbitration agreement is declared insolvency. The presence of an arbitration agreement between the parties does not necessarily initiate the arbitral proceedings, the arbitral proceedings are initiated by the parties' application under the arbitration agreement. It is also necessary to examine the effect of the insolvency of the party to the arbitration agreement on the arbitral proceedings step by step. This paper reviews the cases in which the parties to the arbitration agreement have been declared insolvency before the commencement of the arbitral proceedings and have been declared insolvency during the arbitral proceedings. This paper examines how the effect of the arbitration agreement affects the insolvency proceedings when the debtor is declared insolvency after concluding the arbitration agreement and how the declaration of insolvency affects the arbitral proceedings when the debtor, who is a party to the arbitration agreement, is declared insolvency during the arbitration proceedings.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.76
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• pp.77-101
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• 2017

This article provides the definitions of the negotiation of credit, the negotiating bank and the negotiation credit. It further describes a number of legal status of negotiating banks by looking into the legal relations firstly between the beneficiary and the negotiating bank and secondly between the issuing bank and the negotiating bank. This study is in large part based on relevant provisions of UCP 600 and decisions of the Supreme court of South Korea. Under UCP 600 the definition of negotiation requires the purchase by the nominated negotiating bank of the required documents by advancing funds on or before the banking day on which reimbursement is due to the negotiating bank. A negotiation credit authorizes the negotiating bank who is a nominated bank to purchase from the beneficiary the documents required by the letter of credit and to present those documents to the issuing bank for reimbursement. If the credit is to be honoured at sight, reimbursement is due when the issuing bank determines that there has been a conforming presentation. Reimbursement under a letter of credit available by acceptance or by deferred payment is due at maturity of the credit. In particular, while the timing of advance by the nominated negotiating bank is up to the parties, a promise of the negotiating bank to advance the purchase price to a fraudulent beneficiary does not confer immunity from letter-of-credit fraud prior to its performance. This requires the negotiating bank who is notified of material fraud prior to making an advance to beneficiary to avoid a loss by using the fraud.

• Korean Journal of Construction Engineering and Management
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• v.19 no.6
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• pp.94-102
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• 2018

Recently, there is a growing need to review compliance with legal requirements to ensure fire safety as the number of fires caused by noncompliant fire safety facilities in high-rise buildings has increased. While there are a large number of apartment buildings in Korea, there is a lack of review on fire safety facilities' compliance with fire safety requirements. The reason for this lack of review despite apartment buildings causing deaths due to their structural features in the event of a fire, lies in the misinterpretation of legal provisions as the Building Act and the Fire Services Act are mixed up; a final inspection when fire safety facilities are unnecessarily installed or missing could result in significant losses in terms of finances and time. Therefore, this study developed a checklist that makes it possible to review mixed-up legal requirements for fire safety facilities simultaneously, and examined the importance and current level of each item through IPA (Importance Performance Analysis). Based on these results, this study intends to develop a manual that considers its applicability to construction practices and contribute to reducing construction companies' fire safety inspection risks.

• Journal of Korean Library and Information Science Society
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• v.44 no.2
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• pp.315-343
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• 2013

Public works has been created by the taxes of the people, so free access and use of public works without charge in the public sector must be guaranteed for the benefit of the public. To do this, above all, a legal basis for solving the problems of the process for copyright should be to establish. Therefore, this study examined the legal concept of public works and the concept and scope of public institutions. And this study, as legislation case to limit the copyright protection of public works, analyzed the relevant provisions of copyright law and the recent revised plan in the U.S., UK, and Germany. And then I analyzed the regulations for limitation of copyright protection of current copyright law and the draft of copyright law on public works in Korea. Based on the results of these analyses, this study suggested the legal revised plan to expand significantly the limitations of copyright in order to activate the use of public works in the library.

• Journal of Arbitration Studies
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• v.19 no.3
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• pp.3-24
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• 2009

This article discusses the validity of selective/unilateral arbitration agreement that provides arbitration as one of several dispute resolution methods. The Supreme Court has held selective/unilateral arbitration agreement that is conditional invalidity since the judgement of 2003Da318 decided on Aug. 22, 2003: In the following judgements of 2004Da42166 decided on Nov. 11, 2004 and 2005Da12452 decided on May 27, 2005, the Court stated that the selective/unilateral arbitration agreement that stipulates to resolve a dispute through arbitration or mediation would be valid as an effective arbitration agreement only if a party elects and proceeds an arbitration proceeding and another party responses to the arbitration proceeding without any objection. The definition of arbitration agreement, the formation of selective/unilateral arbitration agreement, the summary of relative judgements and academic theories will be reviewed in order to examine the appropriateness of the series of judgements of the Supreme Court. Based on such reviews, this article will investigate the adequacy of the Supreme Court judgements from the perspectives of i) the principle of party autonomy, ii) the structure of dispute resolution methods, iii) legal provisions of Arbitration Act, iv) legal stability, and v) the policy to revitalize the use of arbitration. At conclusion, this article will suggest the change of precedents of the Supreme Court's judgements with regard to the selective arbitral agreement.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.20
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• pp.113-127
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• 2003

In some legal systems property passes at the time of the conclusion of the contract. In other legal systems property passes at some later time such as the time at which the goods are delivered to the buyer. It was not regarded possible to unify the rule on this point nor was it regarded necessary to do so since rules are provided by this CISG for several questions linked, at least in certain legal systems, to the passing of property. Even though the CISG rules that it does not govern the passing of property in the goods sold, it does not exclude completely the effect which the contract may have on the property in the goods sold. Problems that under some domestic systems are decided by reference to the "property" concept are governed by specific provisions of the CISG. First of All, the CISG(Arts. 41 and 42) deals with seller's obligation to the buyer that the goods be free of third party claims. Moreover, Article 45 gives a buyer the right to require the seller to deliver goods that the seller wrongfully withholds. Secondly, Article 81(2) gives a seller the right to claim restitution of goods for which the buyer fails to pay. Domestic law must respect these rights as between the seller and buyer; if such rights between the parties prevail over the claims of creditors or other third parties under domestic law, domestic tribunals should give the same effect to rights established by the CISG. Thirdly, the right to sell the goods arises where there has been an unreasonable delay by the party in taking possession of them or in taking them back(Article 88).