• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.187-210
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• 2011

International transactions have the threat of non-payment by the buyer or non-performance by the seller. Parties tend to search for additional means of securing performance and payment beyond the mere agreement in the contract. Such security may be achieved by means of a letter of credit. When contracting parties have agreed to pay by means of a letter of credit, the buyer's bank takes upon itself the obligation to pay the purchase price when the seller tenders the documents that are stipulated in the letter of credit. The documents must comply strictly with the terms of the credit.. The documents play a crucial role in letter of credit transaction. The principles of abstraction, separability and strict compliance governing the letter of credit transaction are considered. The concept of fundamental breach of Article 25 CISG was discussed. This article examines whether a failure to deliver documents conforming to the terms of the letter of credit can constitute a fundamental breach of the sales contract as defined by Article 25 of the CISG by the seller and thereby enable the buyer to avoid the contract. For letter of credit transactions it should be accepted that the delivery of non-performing documents constitutes a fundamental breach, if the result of this breach is that the bank refuses to pay the price for the goods. On the other hand, in the interpretation of Article 25 CISG, it should be noted that if the parties have agreed to payment by means of a letter of credit, they have simultaneously agreed to apply the strict compliance principle to the delivery of documents in the sales contract. Finally the parties should ensure that inconsistency between the requirements under the documentary credit and the requirements under the contract of sale is avoided, since the buyer may be in breach of his payment obligation if the seller cannot get paid under the documentary credit when his documents conform with the contract of sale.

• International Commerce and Information Review
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• v.16 no.3
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• pp.431-463
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• 2014

This paper analyzed the effect of the alliance capabilities needed for each stage of alliance lifecycle(search & negociation, contract, operation, evaluation/termination) according to the alliance life cycle of SMEs consulting firms on the performance, and the moderating effect of the partnership & entrepreneurship between the process capabilities and performance using the multi-group analysis The result shows that searching & operational capabilities have a positive impact on the customer & learning performance, not contracting and termination capabilities, and the partnership & entrepreneurship moderated between the process capabilities and alliance performance. This study shows that the operation stage in the alliance life cycle is the most important, in this process alliance partners show the higher partnership & entrepreneurship than any other stages.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.4
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• pp.542-548
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• 2022

In order to reduce marine accidents, each contracting Government needs to implement the instruments enacted and amended by the International Maritime Organization (IMO). The III Code requires each administration of the government to have a system for improvement through periodic review and evaluation and to include performance indicators in its evaluation methods. Thus, each IMO Member State needs to develop its own performance indicators. The purpose of this paper is to develop and present an evaluation model using the Balanced Scorecard (BSC) and Key Performance Indicators (KPI) in order to quantify and evaluate the level of implementation of the instruments by the administrations. From the perspective of 'III-BSC', which applies the BSC concept to the III code requirements, the Critical Success Factors (CSF) that must be secured to achieve the established vision were drawn up, and candidate KPIs for each evaluation area were developed to measure the derived key success factors and an initial study model was designed composed of four levels. The validity of the KPIs was verified and the study model was finalized using the survey design using the SMART technique. Furthermore, based on the developed study model, an evaluation model for the implementation of the BSC-based IMO instruments was developed by deriving the weights of elements for each level through AHP analysis. The developed evaluation model is expected to contribute toward improving the administrations' level of implementation of the IMO instruments as a tool for quantitatively grasping the level of performance of the implementation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.65
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• pp.21-49
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• 2015

This study primarily concerns the various franchisor's duties provided under the Draft Common Frame of Reference (here-in-after DCFR) in comparison with those under Korean law. It particularly focuses on the followings. First, it scrutinizes the rules on the scope of application in a comparative way, focusing on the following questions; what is the definition of a franchise contract and what are the essential elements of such contract. Second, it investigates in a comparative way the provisons as to the franchisor's contractual duties as follows; 1) a duty to collaborate actively and loyally and coordinate their respective efforts, 2) a duty to provide the franchisee with adequate and timely information before the contract is concluded, 3) a duty to grant the franchisee a right to use the intellectual property rights, 4) a duty to provide the franchisee with the know-how, 5) a duty to render the franchisee with assistance, 6) a duty to ensure the products ordered by the franchisee are supplied, 7) a duty to provide information during the performance, 8) a duty to warn the franchisee decreased supply capacity, 9) a duty to make reasonable efforts to promote and maintain the reputation of the franchise network. Its emphasis is particularly put on the rationals, the contents and the nature of such duties. Third, this study provides legal and practical advice to the contracting parties when they intend to insert either the DCFR or Korean law in their contract as a governing law.

• Journal of the Korea institute for structural maintenance and inspection
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• v.14 no.4
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• pp.86-93
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• 2010

The wear of railway track affects loss of rough ride, noise or vibration of train and traveling safety. Moreover as the track is worn away, this promotes destruction of structural mechanism of rail track which can bring about increasing of rail track maintenance cost drastically. For this reason, it is very important and interested research subject to design railway track structure and to analyse train movement mechanism based on systematic analysis of the reasons causing rail wear possible in real field. In this research, for the efficient maintenance, Life Cycle Performance of rail track and maintenance characteristics are computed considering some track components such as track type, contracting type, sleeper type and roadbed type. Time - Wear probabilistic distribution relationship as well as multiple regression analysis based on time, curvature and wear data are computed to predict the service life remainder of railway track and to be adapted to safety assessment.

• Journal of Practical Engineering Education
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• v.11 no.1
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• pp.51-59
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• 2019

This study includes the possibility of organizing courses that can accommodate both NCS-based and course-based qualifications program in terms of contracting departments operating a college-based work and study in parallel system, examining and comparing differences between the two qualifications. Based on the case study of mechanical design engineer based on the job of machine design, curriculum that meets both composition regulation is developed. The author predicts future operational differences and problems and suggests several ways to overcome them. In conclusion, a few words have been added to modify the composition regulations to help the professional educational institute that simultaneously operates a work parallel system and a course evaluation type as to develop the field-oriented curriculum minimizing the gap between provider-centered education and consumer-centered qualifications, and maximizing the performance of training and education.

• Journal of Korean Society for Quality Management
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• v.46 no.4
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• pp.959-972
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• 2018

Purpose: This study developed a simulation model that incorporates the uncertainty of demand and yield to obtain optimized results for supply chain coordination within environmental constraints. The objective of this study is to examine whether yield management for perishable products can achieve the goal of supply chain coordination between a single buyer and a single supplier under a variety of environmental conditions. Methods: We investigated the efficiency of a revenue-sharing contract and a wholesale price contract by considering demand and yield uncertainty, profit maximizing ratio, and success ratio. The implications for environmental variation were derived through a comparative analysis between the wholesale price contract and the revenue-sharing contract. We performed Monte Carlo simulations to give us the results of an optimized supply chain within the environments defined by the experimental factors and parameters. Results: We found that a revised revenue-sharing contracting model was more efficient than the wholesale price contract model and allowed all members of the supply chain to achieve higher profits. First, as the demand variation (${\sigma}$) increased, the profit of the total supply chain increased. Second, as the revenue-sharing ratio (${\Phi}$) increased, the profits of the manufacturer gradually decreased, while the profits of the retailer gradually increased, and this change was linear. Third, as the quality of yield increased, the profits of suppliers appear to increased. At last, success rate was expressed as the profit increased in the revenue-sharing contract compared to the profit increase in the wholesale price contract. Conclusion: The managerial implications of the simulation findings are: (1) a strategic approach to demand and yield uncertainty helps in efficient resource utilization and improved supply chain performance, (2) a revenue-sharing contract amplifies the effect of yield uncertainty, and (3) revised revenue-sharing contracts fetch more profits for both buyers and suppliers in the supply chain.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.29
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• pp.39-61
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• 2006

The governing law in international commercial arbitration may be divided into governing arbitration law and governing substantive law. The former governs the parties' arbitration agreement and the conduct of any subsequent arbitration. But the later governs the parties' substantive rights and obligations, which means the law that governs contract formation and performance, and the law to be applied by the arbitrator to the merits of the dispute. The purpose of this paper is to examine how to determine the substantive governing law when there is express choice or implied choice between parties. Moreover this author checked any restrictions on party autonomy and also any possibilities to deviate from the governing law. In case of express choice the sources of the law or rules of law might be the national law of one of the parties, the neutral law, the general principles of law or lex mercatoria according to the arbitration law selected by the arbitral tribunal. Some arbitration laws or rules empower the arbitrator to decide the case ex aequo et bono or to act as amiable compositions. If the governing law could be determined expressly or impliedly by the parties, the arbitral tribunal would make a selection. In this case the criteria for selecting a governing law are not exactly same from country to country. But failing any indication by the parties as to governing law, the arbitral tribunal should apply the rules of law, the law or the law under the rule of conflict that the arbitrators consider applicable, according to the governing arbitration law. Among the connecting factors offered by the conflict rules, (which means the factors that the arbitrators consider applicable), some legal systems give precedence to the formation of the contract, other system to the place of performance of the contract, and others to the closest connection or centre of gravity. But the Rome Convention, which unified the conflict rules of the contracting states, gives precedence to the law of the domicile of the party which has to effect the performance which is characteristic of the contract. Finally this author suggested the Choice of Law Clause which covers governing substantive law and governing arbitration law at the same time. Thus the UNIDROIT Principles as well as any national law may be included as a governing law in international arbitration. So when we make sales or service contract, we should take into consideration of the UNIDROIT Principles as a governing law or a supplement to the governing law.

• Science of Emotion and Sensibility
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• v.20 no.3
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• pp.141-150
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• 2017

The purpose of this study was to analyze the effect of the shape and attached position of E-textile-based stretchable sensors on motion-sensing performance and to investigate the requirements for the optimal structure of clothes for sensing limb motions. An experimental garment was prepared with different sensor shapes, and attachment positions. A child subject, wearing the experimental garment, performed arm and leg bending and extension motions at $60^{\circ}$, $90^{\circ}$ and $120^{\circ}$ motion angles, at a rate of 60 deg/sec. The changes in voltage triggered by the stretching and contracting of the fabric-sensor were measured, and an acceleration sensor was utilized to verify that the experimental motions were correctly performed. Dummy arms and legs of a child were manufactured to perform an identical test, in order to compare the dummy results with the actual human body experiment results. The analysis showed that the reproducibility and reliability of the rectangular sensor, showing uniform and stable were higher than those of the boat-shaped sensor, in both the dummy and the human body experiments. The attachment position of the sensor was more reproducible and reliable when placed on 4 cm below the elbow and knee joints in the dummy test, when placed in the joints of the elbow and knee, in children experiment. The appropriate shapes and attached positions of the sensor for sensing the motions were analyzed, and the results proved that motion-sensing of the human body is possible by utilizing flexible fabric-sensors integrated into clothes.

• The Journal of Society for e-Business Studies
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• v.15 no.4
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• pp.265-284
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• 2010

B2B e-commerce guarantee service is a guarantee service combining the electronic systems among Korea Credit Guarantee Fund(KCGF), banks and e-marketplaces to process all procedures on internet ranging from application for credit guarantee, issue of written guarantee and contracting for a commerce to payment. B2B e-commerce guarantee service plays as an intermediary role in financial support for small and mediumsized enterprise(SME), which are small size, low credit level, and unfavorable status in many aspects compared to major companies. Despite the B2B e-commerce guarantee service has various advantages conducive to promotion of e-commerce among small and medium businesses as well as development of e-commerce itself, it has yet to be diffused due to lack of acknowledgement, misunderstanding of its functions and vague psychological fear of the on-line settlement. Thus, this study identifies the values and effects of the B2B e-commerce guarantee service using financial data and cases. The process of this study is 4 phase. first phase is analysis of B2B e-commerce guarantee service and e-Marketplace. second phase is analysis of performance from the Perspective of Diverse Participants. third phase is analysis of economic performance and support for SME. last phase is policy suggestions and conclusion.