A ready-reference on the contractual obligations of the various parties for a FIDIC construction contract. It is clear that there is less chance of failure to observe contract compliance using this ...book, than reliance on reading though the appropriate clauses in the contract A big plus is that those using the book will find answers to queries relating to contractual issues arising from the FIDIC contracts conditions in a fraction of the time it would take if it were necessary to study the full text For those using the FIDIC forms for the first time, or infrequently, this book is a must, whilst experienced users will find it a valuable memory jogger. Whichever category the reader falls into, using this book should improve performance The book is ideal for engineers, quantity surveyors, contract managers and any person whose job it is to understand the workings of a FIDIC contract. From the book s Foreword by Roger Knowles The most important part of any contract is the obligations of the parties, the time frames in which the parties must perform these obligations, and the consequences of failing to meet them. Failure to carry out obligations correctly is a serious risk and common source of contention or claims. This practical ready-reference on the contractual obligations of the various parties for a FIDIC construction contract promotes efficient administration of construction projects, prevents contention and aids an easier understanding of their obligations. The FIDIC Contracts: obligations of the parties is presented in an easily-referenced format, with the obligations set out in tabular form and clear summaries for each type of contract given in separate sections for the Employer, the Contractor and the Engineer. This guide s ready reference style will enable the project manager, quantity surveyor or contract manager to quickly check that his company is performing the required obligations correctly - and also to ensure the other parties are doing the same. * a practical reference guide to the obligations of the parties under FIDIC contracts * this easily understood digest will be welcomed by anyone dealing with the FIDIC forms of contract * clearly referenced summaries set out in a table format.
This book provides an introduction to the 1999 FIDIC forms of contract including the FIDIC Red Book, the FIDIC Yellow Book, the FIDIC Silver Book and the new 2008 FIDIC Gold Book. Consulting ...engineers, architects and employers will also find reliable information about the FIDIC White Book. The authors explain the meaning of terms and features which are used by FIDIC. In particular the authors attempt to explain the English legal wording in its original legal context for use in civil law countries. Common law practitioners will find useful advice on civil law features and concepts which affect the use of FIDIC contracts in civil law countries. The book covers pre-contractual and contractual issues and the management of FIDIC contracts and offers support in interpreting and understanding the contract terms and contract procedures as to variations, tests, payment certificates, taking-over cases, claims and dispute resolution features. It includes flow charts, glossaries, checklists and sample letters. Common law practitioners will also find helpful information on civil law jurisdictions and civil law concepts. TOC:Legal Systems.- Conflict of Laws.- English and International Standard Forms of Contract.- Civil Law Business Terms.- Development Stages.- Understanding FIDIC - A Civil Law Approach.- FIDIC Contract Documents.- Employer`s Duties.- Contractor`s Duties.- Design Responsibility.- Engineer.- Time for Completion.- Variation.- Tests.- Certificates.- Defects Notification Period and (Post Contractual) Defects Liability.- Termination.- Discharge, Frustration and Force Majeure.- Bonds, Guarantees, Letters of Credit.- Claim Management.- Disputes.- Samples.- Delay Schedule.
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Psychological contracts are dynamic, but few studies explore the processes driving change and how employees influence them. By adopting a process approach with a teleological change lens, and drawing ...upon the sensemaking and coping literatures, this study positions individuals as active and adaptive agents driving contract change. Employing a mixed methodology, with a four-wave longitudinal survey (n = 107 graduate newcomers) and qualitative interviews (n = 26 graduate newcomers), the study focuses on unfolding events and develops an “adaptive remediation” process model aimed at unraveling contract dynamics. The model demonstrates how breach or violation events trigger sensemaking, resulting in initially negative employee reactions and a “withdrawal” of perceived contributions, before individuals exercise their agency and enact coping strategies to make sense of, and adapt and respond to, these discrepancies. A process of contract “repair” could then occur if the coping actions (termed “remediation effects”) were effective, with individuals returning to positive exchange perceptions. These actions either directly addressed the breach and repaired both it and the psychological contract (termed “remedies”) or involved cognitive reappraisal of the broader work environment and repaired the contract but not the breach (termed “buffers”). The results highlight the unfolding, processual nature of psychological contracting.
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Outsourcing of information technology (IT) services has received much attention in the information systems (IS) literature. However, considerably less attention has been paid to actual contract ...structures used in IT outsourcing (ITO). Examining contract structures yields important insights into how the contracting parties structure the governance provisions and the factors or transaction risks that influence them. Based on insights from prior literature, from practicing legal experts, and through in-depth content analysis of actual contracts, we develop a comprehensive coding scheme to capture contract provisions across four major dimensions: monitoring, dispute resolution, property rights protection , and contingency provisions . We then develop an empirical data set describing the contract structures across these distinct dimensions, using a sample of 112 ITO contracts from the Securities and Exchange Commission (SEC) database from 1993 to 2003.
Drawing on transaction cost, agency, and relational exchange theories, we hypothesize the effects of transaction and relational characteristics on the specific contractual provisions, as well as on overall contract extensiveness. Furthermore, we examine how these associations vary under conditions of fixed price and time and materials pricing structures. The results provide good support for the main hypotheses of the study and yield interesting insights about contractual governance of ITO arrangements.
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16.
What is a Modern Law of Contracts? Fabre-Magnan, Muriel
European review of contract law : ERCL,
12/2017, Volume:
13, Issue:
4
Journal Article
Peer reviewed
The recent reform of French law of contract consecrates and indeed reinforces those mechanisms designed to protect weaker parties that had been recognized progressively by the courts. This is not to ...say that the brief for contractual justice is now exhausted. Many questions have arisen that are not dealt with by the new legislation, but nor are they by the law of other Member States of the European Union, or indeed by the Common Frame of Reference. Three examples of contemporary problems that contract lawyers should address, are discussed here: access to vital goods and services to persons; the quality of goods and services provided under the contract; and the production process of these goods and services. On these three points, proposals are made which might serve as a basis for a new manifesto for social justice in European contract law.
Large international construction projects often have a range of major contractors, subcontractors and consultants based in different parts of the world and working to different legal theories and ...understandings. This can lead to confusion in the understanding, interpretation and execution of the construction contract, which can result in significant disruption to the construction project. International Construction Contract Law is written for anyone who needs to understand the legal and managerial aspects of large international construction projects, including consulting engineers, lawyers, clients, developers, contractors and construction managers worldwide. In 18 chapters it provides a thorough overview of civil law /common law interrelationships, delivery methods, standard forms of contract, risk allocation, variations, claims and dispute resolution, all in the context of international construction projects. Highly practical in approach – it introduces legal analysis only when absolutely essential to understanding, the book also contains a range of useful appendices, including a 10-language basic dictionary of terms used in FIDIC forms.
Cap-and-trade regulation is generally accepted as one of the most effective market-based mechanisms to curb carbon emissions. In this paper, we study the production and emission abatement decisions ...of a Make-To-Order supply chain consisting of a manufacturer and a retailer under cap-and trade regulation. Specifically, the manufacturer can reduce unit product carbon emission by using green technology, with the cooperation of a retailer by certain contracts, who sell the products to environment-concerned consumers. Wholesale price and cost sharing contracts are considered in the supply chain. We list some main conclusions here. First, as carbon trading price increases, the optimal production quantities (the optimal abatement levels) firstly decrease (increase) and then remain constant. Second, both wholesale price and cost sharing contracts can coordinate the supply chain. Last, combining the optimal operational decisions under the two contracts with two-part tariff agreement, we design a contract in which the retailer pays a lump fee to the manufacturer, and find that there is an interval of the lump fee to achieve Pareto improvement for the two firms.
•We study the supply chain coordination problem under cap-and-trade regulation.•Adopting green technology makes Pareto improvement for firms in the supply chain.•Both wholesale price and cost sharing contracts can coordinate supply chain.•Firms can cooperate to reduce carbon emission without affecting their profits.
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Smart contract, a term which was originally coined to refer to the automation of legal contracts in general, has recently seen much interest due to the advent of blockchain technology. Recently, the ...term is popularly used to refer to low-level code scripts running on a blockchain platform. Our study focuses exclusively on this subset of smart contracts. Such smart contracts have increasingly been gaining ground, finding numerous important applications (e.g., crowdfunding) in the real world. Despite the increasing popularity, smart contract development still remains somewhat a mystery to many developers largely due to its special design and applications. Are there any differences between smart contract development and traditional software development? What kind of challenges are faced by developers during smart contract development? Questions like these are important but have not been explored by researchers yet. In this paper, we performed an exploratory study to understand the current state and potential challenges developers are facing in developing smart contracts on blockchains, with a focus on Ethereum (the most popular public blockchain platform for smart contracts). Toward this end, we conducted this study in two phases. In the first phase, we conducted semi-structured interviews with 20 developers from GitHub and industry professionals who are working on smart contracts. In the second phase, we performed a survey on 232 practitioners to validate the findings from the interviews. Our interview and survey results revealed several major challenges developers are facing during smart contract development: (1) there is no effective way to guarantee the security of smart contract code; (2) existing tools for development are still very basic; (3) the programming languages and the virtual machines still have a number of limitations; (4) performance problems are hard to handle under resource constrained running environment; and (5) online resources (including advanced/updated documents and community support) are still limited. Our study suggests several directions that researchers and practitioners can work on to help improve developers' experience on developing high-quality smart contracts.
Over the past decade, a significant change has occurred in the way businesses progress, and that change is largely due to rapidly changing technology. The entire world depends on the online network ...that has radically changed our perspective of how business should be managed. The faster a company adapts, the more quickly that company can outpace its competitors, and a new approach that is attracting attention is called Online to Offline (O2O).
This paper establishes a comparison based on O2O approach; our model considers two types of demand under three coordination mechanisms (revenue-sharing, buy-back, and quantity flexibility contracts). We demonstrate that the best outcome and the highest profit is achieved with the O2O deterministic demand under the quantity flexibility agreement. However, the stochastic demand case attains the same result. This paper presents a fruitful introduction to this emerging topic, and future research might compare several coordination mechanisms using the Stackelberg game theory.
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