Academic literature on the topic 'Contractual constraints; Payment systems'

Payment conflicts are never ending issue in Malaysian construction industry. This issue is a common scenario especially in public work project, which involves a conventional contract. The late payment and non-payment occur due to client inefficient payment administration caused by documentation and human factors. It commonly ended up causing delays in project completion. However, the revolution of Information Technology (IT) within construction industry has shown the development of various management systems, which transformed the way projects are administered. The introduction of Building Information Modelling (BIM) is one of the project management systems, which have been created to centralised knowledge sharing resource as an effective collaborative and integrated approach between inter-disciplines in construction industry. The development of digital technology of Intelligent Contracts brings great potential in BIM management to automate the contractual process and thus create possible solutions towards payment conflicts in the construction project. This paper discusses the process of payment in the conventional contractual procedure, which relate to the causes of delay in payment. It is believed that by integrating BIM and Intelligent Contract’s attributes may help to eliminate the unnecessary procedure, which prolong the payment processes. Therefore, this study is carried out to explore what are the effects of adopting BIM and Intelligent Contracts attributes in conventional payment process. This is a descriptive study and the methodology used is essentially on review of the literature in relation to payment processes in conventional contract, BIM management system and attributes of Intelligent Contract. The analysis revealed that the adoption of BIM and Intelligent Contracts attributes in payment conventional process could improve the efficiency; reduce the time by eliminating third party interference and manual signatory. In addition, the project performance is analysed intelligently as well as minimise the risks of losing information by keeping historical audit trails in automatic system repository.

PurposeThis study aims to investigate the actual usage (AU) of digital payment systems by the consumers during the period of demonetization (from November 9, 2016 to December 30, 2016) in India.Design/methodology/approachThe conceptual frame work for this study is based on the unified theory of acceptance and use of technology (UTAUT 2) and innovation resistance theory. A total of 766 sample respondents were surveyed using a pre-tested questionnaire. The empirical validation of the framework and analysis was done using partial least squares (PLS)-structural equation modeling (SEM) technique.FindingsThe results suggest that the behavioral intention (BI) to use and innovation resistance (IR) affect the usage of digital payment systems. The relation between BI to use digital payment systems and the AU of digital payment systems is moderated by the stickiness to cash payments.Research limitations/implicationsThis cross-sectional study is limited by geographic constraints and highlights the AU of digital payment systems by using the UTAUT 2 and IR theory only during the demonetization period.Practical implicationsThis study offers valuable insights to the economists, policymakers and digital payment service providers regarding the usage of digital payment systems by consumers during demonetization.Originality/valueThis study assumes importance as it empirically examines the influence of BI and IR on the AU of digital payment systems during the demonetization period in India. This study empirically validates the moderating influence of stickiness to cash payments on the AU of digital payment systems.

Purpose In this research a model for the rationalization of the assessment in a rent to buy contract has been proposed, in order to contextualize the economic amounts involved in the negotiation according to the specific market risk of the area where the property is located. The paper aims to discuss this issue. Design/methodology/approach The model borrows the logical principles of operational research, in order to take into account the convenience constraints of the parties involved (seller and buyer) and to determine the minimum amount of the additional annual rent to be charged as down payment on the final sale price, compensating the investment risk. The procedure proposed for the risk assessment combines the discrete modeling of real option analysis and the exponentially weighted moving average method, in order to weigh appropriately the data available for the specific area in the analysis. Findings Considering the limit conditions of variability of the property market value at the time provided for the notarial deed, the proposed model returns two values (minimum and maximum) for a fixed contract duration and for a specific market area for the annual additional rent, which define the reference range to ensure the compliance with the convenience constraints of the parties involved. Practical implications In order to test the reliability of the developed methodology, the model has been implemented to the 24 “microzones” defined by the Italian Revenue Agency for the city of Bari (Southern Italy). The results obtained were then georeferenced, in order to create thematic maps of convenience for the subjects interested in the rent to buy formula. The developed maps define a useful support to be consulted in the negotiation phase between the seller and the buyer, allowing both to verify the investment conveniences within the limits of their disposable incomes and their needs. Originality/value The tabulated values of the down-payment amounts and the related thematic maps constitute a valid support for both the parties in the initial negotiation phase of the contractual conditions: in fact, if comparable data for the assessment of the market value and the market rent at the time of the stipulation of the contract are ordinarily available, the increase in the rent, to be charged as the annual down payment on the final purchase price, is generally entrusted to the contractual capabilities of the subjects involved, since there is no market reference that can direct an appropriate assessment.

Subject. The article focuses on institutional transformations in bodies of the Federal Treasury in adopting the treasury payment mechanism and treasury service. Objectives. I analyze the performance of the public finance system in Russia during the COVID-19 crisis, and identify steps of the institutional environment emergence so as to adopt the treasury payment system and treasury service. I also evaluate whether it is possible to ensure the balance of the federal budget and regional budgets in Russia by placing temporarily available funds when introducing the treasury payment mechanism and implementing the technology of the single treasury account. Methods. The study is based on the systems and institutional approaches. I also resorted to general methods, such as the analysis, synthesis, comparison. Results. The revenue of the federal budget was found to drop considerably due to the lower business activity in Russia and worldwide and a decrease in the demand and prices for strategic power resources. The article outlines steps of the institutional environment emergence to adopt the treasury payment system and treasury service. Additional income from the placement of temporarily available federal and regional funds was found to be insufficient to ensure the balance of the above budgets. Conclusions and Relevance. Going beyond the structural conservatism of the national economy will lower the public finance sustainability risks amid rapidly changing development challenges, including the COVID-19 that outbroke worldwide in 2020. The findings can be used for practical purposes by the Federal Treasury and other parties to the treasury payment systems so as to improve its performance.

This study aims to explore in depth the application of the online system of payment of land and building tax (PBB). The research location is in a government office, the Surabaya City Financial and Tax Management Board (BPKPD). This study uses a qualitative method. Interviews were conducted with the intended informants, namely the Surabaya City BPKPD as the tax authorities, and also the citizen as Taxpayers (WP). Miles Huberman's approach is used to analyze data. Stages of research include data collection, then reduced, presented and verified, so as to obtain valid conclusions. Informants are chosen based on the information needs needed by researchers. It can be concluded that the web display of online tax payment services is considered attractive and able to optimize public services. Online service brainware factor namely Human Resources (HR) plays an important role in realizing online services. The hardware factor in the online system is quite good using a good computer, but the internet connection is complained about being slow. Online tax payments that can be done through ATMs and m-banking at three banks in collaboration with the Surabaya City BPKPD are still complained of being convoluted by taxpayers. Fear of making payments online makes taxpayers still pay cash at the teller. The changing of service systems from offline to online requires time for the community to adapt.

Purpose – As the wrong Enterprise Software (ES) acquisition can lead an organization with chronically exceeded budgets and settling for minimum returns, so can an unfavorable contractual agreement. Often the acquiring organizations become vulnerable to risks and mistakes as the software contracts are habitually written using legal terminologies and mainly to the advantage of the vendor. To avoid costly ES contracting mistakes, the purpose of this paper is to empirically identify the critical success factors (CSFs) of contracting in the context of ES acquisition. Design/methodology/approach – A questionnaire survey was conducted to gather the data for this study. Statistical analysis conducted for this study include descriptive statistics, factor analysis with reliability and validity tests and nonparametric test. Findings – The five key factors are: contractual assurance, forward compatibility and licensing; right to use, own and use of own, confidentiality and payment; software acceptance; license assignment; and vendor obligation for intellectual property. The research and managerial implications of these factors are given in discussion. Research limitations/implications – As with most empirical studies, the subjectivity of the opinion of respondents from only two industries presents some limitations to generalization. Another limitation is the respondent has been asked for the degree of criticality for each of the contracting issue given in the questionnaire. There could be critical issues other than the listed ones which are more specific to the organization. Practical implications – The results can be used by managers to improve their understanding on the critical contractual issues in ES acquisition negotiations. Originality/value – The significant value of this study identifies the CSFs for ES contract negotiations while acquiring the software.

ABSTRACTThe use of server-based electronic money is one of the most popular non-cash payment systems in use today. The form of server-based electronic money is e-wallet / digital wallet. E-wallet can be used to transact by customers, if the merchant provides an application Same e-wallet to customers. This made Bank Indonesia, as the regulator of the payment system, issue a new payment channel namely; QRIS (QR Code Indonesia Standard). The use of QRIS is used to standardize all e-wallets applications that use the QR Code system to conduct payment transactions. This study examines how the application of QRIS to UMKM in Medan, and describes the roles, constraints, and income of UMKM s in the presence of QRIS. The research method used is interviews and literature studies with UMKM traders who have used QRIS as a payment tool in their characters. This research indicates that QRIS has benefits for UMKM traders.

AbstractCost–price models were developed to describe milk collection, manufacture and marketing of standardised fluid milk, butter, cheese, casein, and milk powders. Market constraints were modelled by fixing fluid milk demand to 10% or 70% of milk production. Milks representative of New Zealand Holstein-Friesian (HF) and Jersey (J) breeds, and novel technologies were considered. The true value of each milk was assessed from its own processing performance on the basis of fat, protein, lactose and volume considerations. Average milk was worth £0.193/kg when a significant fluid market exists, reducing to £0.112/kg when most milk was manufactured into concentrated dairy products for sale on the world market. Milk from different breeds varied in true value. On a per kilogram basis, HF milk was less valuable than J milk.Single and multiple component payment systems were quantified for various subsets of milk components and used to obtain predicted values of a range of milks for comparison to their true values. Values of milks that differ in composition from average milk tend to have predicted values that deviate from their true value. The extent of such bias varies depending upon the payment system considered. For example, volume-based payment over-valued HF milk and penalised J milk. Other payment systems undervalued HF milk and over–valued J milk.Payment systems should be fair, discourage unfavourable changes in composition and provide opportunities for shifts towards the production of more valuable milk. The marketing mix and the choice of payment system have major impact on the potential for economic benefits to the producer from modifying the composition of milk. Payment systems need careful, thorough investigation in concert with market research and studies into breeding and other management opportunities for modifying milk composition.A value-based payment system can encourage producers to alter the composition of their milk in order to increase revenue.

Ma thèse comprend 3 chapitres. Les deux premiers chapitres étudient directement la question du moment de paiement. Le Chapitre 1 considère la situation où les consommateurs ont des futures alternatives incertaines, tandis que le Chapitre 2 étudie le choix des contrats dans des environnements juridiques différents. Le Chapitre 3 est un peu différent, se concernant avec le moment de miser sur une enchère. Le Chapitre 1 étudie la situation où des consommateurs à demande unitaire, ayant des alternatives futures incertaines, projettent de consommer à une date fixée à l'avenir. Dans ce contexte, l'incertitude de l'événement futur est une source de discrimination par les prix. Une des résultats principal est que, dans le mécanisme de maximisation du profit espéré, le vendeur monopoliste obtient le même résultat espéré que celui qu'il obtiendrait s'il pouvait observer la nouvelle information reçue par les consommateurs - c'est à dire, les alternatives incertaines réalisées. Cela peut être mis en œuvre par le contrat (T, p) où T est payé à l'avance et p est payé à la date. Une conclusion intéressante est que le p optimisé ne dépend pas de l'alternative réalisée, si les valeurs du service et de l'alternative sont indépendantes. Le profit espéré est supérieur lorsque les consommateurs ont des alternatives plus volatiles. Le Chapitre 2 analyse le moment du paiement sous différents environnements juridiques. En cas de litige, la cour va s'impliquer pour résoudre le conflit. Je démontre que l'efficacité du système juridique et le coût fixe d'un litige déterminent le choix du moment de paiement. Mon modèle prédit, de façon générale, que le contrat de paiement ex-ante est plus commun dans la région à faible coût fixe de l'utilisation du système juridique. Par contre, sous ces conditions le contrat de paiement ex-ante est inefficace. Je montre que la pleine efficacité peut être atteinte par l'utilisation des contrats de paiement mixte. Sous certaines contraintes sur le coût fixe, les contrats de paiement ex-ante et ex-post contrats sont identiques et parfaitement efficaces. Le modèle a aussi des implications pour l'auteur du contrat. Lorsque le vendeur le propose, un contrat de paiement ex-ante simple domine en même temps les contrats de paiement ex-post et de paiement mixte. Ceci peut expliquer pourquoi la plupart des offres quotidiennes sont proposés par des vendeurs dans un formulaire simple de paiement ex-ante. Ceci suggère également que le paiement mixte est principalement un dispositif contractuel utilisé par l'acheteur pour atténuer le problème de l'aléa moral bilatéral. Le Chapitre 3 considère l'effet du coût de miser sur une enchère sur le déroulement de cet enchère. A chaque période, les offrants sont autorisés à soumettre ou à réviser leur offre en payant le coût associé. Ceci communique rapidement l'information des offrants. Un offrant mise sur l'enchère dans les premières périodes pour signaler une valorisation élevée. A l'équilibre, dans la plupart des cas, l'enchère se termine de manière efficace avant le moment mandaté. Le modèle fournit de nouveaux résultats concernant le prix de réserve sous maximisation du profit et le prix de réserve efficace, dans un environnement d'offres coûteux. Le modèle fourni également une interprétation des retards de soumission d'offre fondée sur l'information
My dissertation has 3 chapters. The first two chapters study directly the issue of timing of payment under different considerations. Chapter 1 study the situation where consumers have uncertain future alternatives, while chapter 2 study the choice of contracts under different legal environments. The focus of chapter 3 is on the timing of bidding. When bidding is a costly activity, it bears some resemblance to the timing of payment. Chapter 1 studies the situation when consumers with unit demand, having uncertain future alternatives, plan to consume at a fixed date in the future. Under this setting, uncertainty of the future event is a source of price discrimination. One main result is, in the expected profit maximizing mechanism, the monopolist seller gets the same expected profit as if she can observe the new information received by the consumers --- the realized uncertain alternatives. This can be implemented by the contract (T,p) where T is paid in advance and p is paid on the date. One interesting finding is that the optimal p does not depend on the realized alternative, if the value of the service and alternative are independent. The expected profit is higher when consumers have more volatile alternatives. Chapter 2 analyzes the timing of payment under different legal environments. In case of dispute, court will get involved to resolve the conflict. I showed the efficiency of the legal system and the fixed cost of litigation are the keys for the choice of payment timing. My model predicts, generally speaking, ex-ante payment contract is more prevalent in region with low fixed cost of using the legal system. But since under this situation, ex-ante payment contract is inefficient. I found that full efficiency can be attained by using certain mixed payment contract. When the fixed cost is within certain bounds, ex-ante and ex-post payment contract are identical and perfectly efficient. The model also has some implications for the proposer of the contract. When the seller proposes, a simple ex-ante payment contract dominates ex-post payment and mixed payment contract, which may explain why most of offers in everyday life are made by sellers in a simple ex-ante payment form. And it suggests that primarily mixed payment is a contractual device used by the buyer to mitigate the two sided moral hazard problem. Chapter 3 asks a question about timing, but instead of the payment time, it is the bidding time. It considers the effect of bidding cost on bidding behavior. At each period, bidders are allowed to submit or revise their bid with the associated bidding cost. This communicates bidders' information rapidly. A bidder makes a bid in early periods to signal a high valuation. In equilibrium under most cases, the auction effectively ends before the mandated one. The model provides new results concerning profit maximizing reserve price and efficiency reserve price in a costly bidding environment. Also a information based interpretation of delays in bidding is provided

博士
國立成功大學
工業與資訊管理學系碩博士班
98
Globalization, customization, quick response and rapid technology changes are important environmental challenges facing enterprises in recent years. Firms increasingly must offer differentiated products that are differentiated in terms of quality, function, and so on to target fickle customer preferences as well as different levels of willingness to pay. Enterprises should not only consider product and process design, but also to emphasize how to support these mentioned service objects, reduce the forecast errors and balance their budget. Modularization, postponement and information sharing are the key issues related to product and process redesign that are required in adapting enterprises to the tendency of environmental challenges. Hence, managing the multi-item inventory system is becoming one of the important policies for enterprises. Literatures have explored the multi-item inventory system with independent demand among different items. However, there are interaction effects that should not be overlooked in the multi-item inventory system with independent demand. Moreover, some scholars have introduced different aspects of cost into their models for modifying the variable cost pragmatically. Thus, the service cost is introduced and defined in proportion to the service level. In this thesis, the (Q, r) model (continuous review) is developed to find the optimal decision variables (the lot size and reorder point) for a multi-item inventory control system with interactions between necessary and optional components. Our objective is to find the optimal inventory management policies under the consideration of minimizing the expected total costs and some constraints caused by the environmental challenges. These models are formulated as nonlinear optimization problems as the service level is nonlinear. Some known procedures are revised to solve some of these problems and the results are compared with other known procedures.

In the 1980s and 1990s the debt crisis in the global South, and the way it was responded to through bail out and adjustment programmes, caused stagnation in the development of health systems for many years. Debt cancellation for some countries, alongside increasing commodity prices, enabled significant improvements in healthcare to be made from the 2000s on. However, key vulnerabilities remained, including dependence on commodity exports, the lack of a fair and transparent arbitration process to resolve debt crises and the lack of a framework to assess debt payments against other needs, including the ability of the state to provide basic health care. Economic developments in recent years have led to debt payments increasing rapidly since 2014. Government spending cuts in response to such crises once again threatens progress on securing basic health services for all. In the context of constrained government budgets, one mechanism being promoted for investment is that of PPPs. The danger is that if health-related PPPs are extensively used, contractual payments on them will crowd-out spending in other areas of healthcare, leading to further stagnation or reduction of services.

Intertwined markets and disaggregated means of production give rise to new types of economic entities. Organized along global value chains, the relevance of state borders for the legal norms that apply to them are often reduced and new governance responses have emerged. Modern retail payment systems are an example of cross-border, network structures requiring both private (contractual) and public (regulatory) governance. The two main legal responses—private international law and harmonization—fail to deal effectively with coherence. Based in a principled regulatory approach which relies on public reason, megaregional trade and investment agreements such as TPP provide a route to effective transnational governance of global and regional value chains in this area.

This chapter considers the relationship which banks have with other banks. The discussion revolves around legal impact and legal consequences, in this case of the various types of inter-bank relationships. It shows that in some cases, banks become the customers of other banks. Some of the issues discussed in the chapter lay the foundation for some of the later chapters, notably that on payment and lending. These relationships between banks are primarily contractual in nature; the concept of the network usefully encapsulates the scope of the discussion. The chapter covers correspondent banking, inter-bank markets and contracts, exchange markets and payment systems, and bank syndicates.

Abstract Historically, both regulatory and contractual constraints have inhibited the overall optimization of natural gas transmission systems. The Nigerian National Petroleum Corporation (NNPC) currently supplies gas either as source of fuel or as feedstock to different industries. More local industries are now aware of the advantages and benefits of using gas; hence creating an increase in demand. Recent changes in the regulatory framework and the introduction of the Nigeria Gas Transportation Network Code (NGTNC) to deepen the growth of gas market in the country are however, fostering the pipeline companies into a new competitive position, creating strong incentives as well as opportunities. This work provides a section-by-section summary of the Code for the benefit of those who are passionate about understanding the nuances of the Code and of course makes cogent survey and recommendations, to expedite the success of the Code. In the course of this research, questionnaires were administered and 130 respondents were chosen based on their level of knowledge and experience in the industry ranging from operations, management, regulatory and Gas Associations. Responses were collated and analysed using simple statistical tools, tables, and graphs to identify opportunities. The result of the study illustrates the stakeholder's presumption and commitments in using NGTNC for optimized Gas transmission operations.

Abstract Effective asset-level decision-making relies on a sound understanding of the complex sub-components of the hydrocarbon production system, their interactions, along with an overarching evaluation of the asset's economic performance under different operational strategies. This is especially true for the LNG upstream production system, from the reservoir to the LNG export facility, due to the complex constraints imposed by the gas processing and liquefaction plant. The evolution of the production characteristics over the asset lifetime poses a challenge to the continued and efficient operation of the LNG facility. To ensure a competitive landed LNG cost for the customer, the economics of the production system must be optimized, particularly the liquefaction costs which form the bulk of the operating expenditure of the LNG supply chain. Forecasting and optimizing the production of natural gas liquids helps improve the asset economics. The risks due to demand uncertainty must also be assessed when comparing development alternatives. This paper describes the application of a comprehensive field management framework that can create an integrated virtual asset by coupling reservoir, wells, network, facilities, and economics models and provides an advisory system for efficient asset management. In continuation of previously published work (Khan, Ali, Elfeel, Biniwale, & Dandekar, 2020), this paper focuses on the integration of a steady-state process simulation model that provides high-fidelity thermo-physical property prediction to represent the gas treatment and LNG plant operation. This is accomplished through the Python-enabled extensibility and generic capability of the field management system. This is demonstrated on a complex LNG asset that is fed by sour gas of varying compositions from multiple reservoirs. An asset wide economics model is also incorporated in the integrated model to assess the economic performance and viability of competing strategies. The impact of changes to the wells and production network system on LNG plant operation is analyzed along with the long-term evolution of the inlet stream specifications. The end-to-end integration enables component tracking throughout the flowing system over time which is useful for contractual and environmental compliance. Integrated economics captures costs at all levels and enables the comparison of development alternatives. Flexible integration of the dedicated domain models reveals interactions that can be otherwise overlooked. The ability of the integrated field management system to allow the modeling of the sub-systems at the ‘right’ level of fidelity makes the solution versatile and adaptable. In addition, the integration of economics enables the maximization of total asset value by improving decision making.