Journal articles on the topic 'Information contracts'
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Brunjes, Benjamin M. "Reducing risk and leveraging markets: The impact of financial structure on federal contractor performance." Journal of Strategic Contracting and Negotiation 4, no. 1-2 (March 2018): 6–29. http://dx.doi.org/10.1177/2055563619858613.
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This paper analyzes how financial controls, as established through the payment structure, are used and whether they influence federal contractor performance. These payment structures include variants on three primary types of contract: firm fixed-price, cost-reimbursement, and time-and-materials. Each of these payment structures creates different performance incentives for contractors, provides government contract managers with varying levels of information on contractor activities, and alters the dispersion of risk between the partners. The Federal Acquisition Regulation (FAR) prefers fixed-price contracts whenever possible, as they theoretically place the risk on the contractor, who is required to finish the work for the allocated price. Based on an analysis of nearly 25,000 federal definitive contracts that concluded between 2005 and 2014, findings indicate federal contracting officials tend to use payment structures in expected ways: to limit exposure to risk, leverage market forces, and reduce transaction costs when possible. Findings also show that there are important performance differences between contracts that use different financial structures, even when accounting for information asymmetries, asset specificity, and the complexity of the contracted work. Cost-reimbursement contracts are highly correlated with early contract termination.
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Carmichael, David G., and John P. Karantonis. "Construction contracts with conversion capability: a way forward." Journal of Financial Management of Property and Construction 20, no. 2 (August 3, 2015): 132–46. http://dx.doi.org/10.1108/jfmpc-10-2014-0022.
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Purpose – The purpose of this paper is to explore the role and viability of changing contract terms as a project progresses and to offer an original analysis in this respect. Commonly, projects start out with broadly defined information, and this gets refined as the project progresses. This suggests that a prudent approach would be to tailor the contract between the project owner and the project contractor to the project stage, with conversions along the way. Information asymmetry between owner and contractor also suggests the need to tailor a contract to a project ' s situation. Design/methodology/approach – An original method of analysis of the conversion of contract terms within projects is given, along with discussion on the risk transfer between owner and contractor, the common law issues associated with implementing such conversions, any compensation that the owner might need to pay, the timing of the conversion and associated practical implementation issues. The paper, for definiteness, concentrates on construction contracts with conversion between payment types, but the paper’s approach applies to all contracts and all terms within contracts. Findings – The paper provides a readily usable method for analysing the value of having a convertible contract, couched within acceptable common law practice. Practical implications – The paper offers a novel method and framework usable by practitioners for establishing the value of convertibility within a contract. Having convertibility within a contract can be shown to offer benefits to both contracting parties. Originality/value – The idea of having flexible contracts is not new, but, hitherto, a rational method of analysing their value has been missing. This paper gives an original analysis of contracts with conversion capabilities. Current literature does not deal directly with the matter addressed in the paper.
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Tauqeer, Amar, Anelia Kurteva, Tek Raj Chhetri, Albin Ahmeti, and Anna Fensel. "Automated GDPR Contract Compliance Verification Using Knowledge Graphs." Information 13, no. 10 (September 24, 2022): 447. http://dx.doi.org/10.3390/info13100447.
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In the past few years, the main research efforts regarding General Data Protection Regulation (GDPR)-compliant data sharing have been focused primarily on informed consent (one of the six GDPR lawful bases for data processing). In cases such as Business-to-Business (B2B) and Business-to-Consumer (B2C) data sharing, when consent might not be enough, many small and medium enterprises (SMEs) still depend on contracts—a GDPR basis that is often overlooked due to its complexity. The contract’s lifecycle comprises many stages (e.g., drafting, negotiation, and signing) that must be executed in compliance with GDPR. Despite the active research efforts on digital contracts, contract-based GDPR compliance and challenges such as contract interoperability have not been sufficiently elaborated on yet. Since knowledge graphs and ontologies provide interoperability and support knowledge discovery, we propose and develop a knowledge graph-based tool for GDPR contract compliance verification (CCV). It binds GDPR’s legal basis to data sharing contracts. In addition, we conducted a performance evaluation in terms of execution time and test cases to validate CCV’s correctness in determining the overhead and applicability of the proposed tool in smart city and insurance application scenarios. The evaluation results and the correctness of the CCV tool demonstrate the tool’s practicability for deployment in the real world with minimum overhead.
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Sigalov, Katharina, Xuling Ye, Markus König, Philipp Hagedorn, Florian Blum, Benedikt Severin, Michael Hettmer, Philipp Hückinghaus, Jens Wölkerling, and Dominik Groß. "Automated Payment and Contract Management in the Construction Industry by Integrating Building Information Modeling and Blockchain-Based Smart Contracts." Applied Sciences 11, no. 16 (August 20, 2021): 7653. http://dx.doi.org/10.3390/app11167653.
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Construction projects usually involve signing various contracts with specific billing procedures. In practice, dealing with complex contract structures causes significant problems, especially with regard to timely payment and guaranteed cash flow. Furthermore, a lack of transparency leads to a loss of trust. As a result, late or non-payment is a common problem in the construction industry. This paper presents the concept of implementing smart contracts for automated, transparent, and traceable payment processing for construction projects. Automated billing is achieved by combining Building Information Modeling (BIM) approaches with blockchain-based smart contracts. Thereby, parts of traditional construction contracts are transferred to a smart contract. The smart contract is set up using digital BIM-based tender documents and contains all of the relevant data for financial transactions. Once the contracted construction work has been accepted by the client, payments can be made automatically via authorized financial institutions. This paper describes the framework, referred to as BIMcontracts, the container-based data exchange, and the digital contract management workflow. It discusses the industry-specific requirements for blockchain and data storage and explains which technical and software architectural decisions were made. A case study is used to demonstrate the current implementation of the concept.
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Xiong, Wei, and Yangcheng Hu. "Delegate contract signing mechanism based on smart contract." PLOS ONE 17, no. 8 (August 19, 2022): e0273424. http://dx.doi.org/10.1371/journal.pone.0273424.
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In this paper, a delegate contract signing solution is proposed to eliminate the potential risk of contract fraud caused by information and interest asymmetry. By utilizing the functional properties of the Ethereum blockchain and smart contracts, a delegate contract signing mechanism is established. By running the mechanism, the delegate contract signing information is received and processed, and the information is broadcast to the blockchain network nodes. By designing the algorithms of "requesting contract signing", "successful contract signing" and "contract fraud dispute resolution", the delegate contract signing is realized. By proposing algorithms and their calling processes, the smart contracts are completed. Finally, the smart contracts based on the solution are tested and verified. The source code of the smart contracts has been published on GitHub.
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Filatova, Nataliia. "Smart contracts from the contract law perspective: outlining new regulative strategies." International Journal of Law and Information Technology 28, no. 3 (2020): 217–42. http://dx.doi.org/10.1093/ijlit/eaaa015.
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Abstract Smart contracts nowadays start being widely used in various areas of economic and social life. In most cases smart contracts are somehow related to legal contracts: the former may constitute part of a legal contract, an entire contract, or be used to automate a contract performance. Meanwhile, a question whether modern contract law is applicable to smart contracts is rather debatable, since smart contracts initially were designed to rely only on technical rules embedded in blockchain and considered as self-sufficient instruments capable of addressing various issues which may emerge in practice. However, practice has shown that technical regulation does not often cope with the problems one may face when using smart contracts, which confirms the need for legal regulation. Although smart contracts have many technical peculiarities, they do not make application of contract law provisions totally impossible. Thus, what the modern contract law needs is a set of special rules applicable to the practice of smart contracting.
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Corbett, Charles J., Deming Zhou, and Christopher S. Tang. "Designing Supply Contracts: Contract Type and Information Asymmetry." Management Science 50, no. 4 (April 2004): 550–59. http://dx.doi.org/10.1287/mnsc.1030.0173.
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Tang, Chunhua, Huiyuan Zhang, and Jiamuyan Xie. "Optimal Contract Design in Contract Farming under Asymmetric Effort Information." Sustainability 14, no. 22 (November 13, 2022): 15000. http://dx.doi.org/10.3390/su142215000.
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This paper studies the contract design, optimal financing, and pricing decision of the leading agricultural enterprise when the level of effort of the farmer is private information. We use buyer direct finance and add agricultural income insurance to transfer risks to overcome the farmer’s loan difficulty and contract default caused by information asymmetry. We design four kinds of contracts, including the uninsured and symmetric information contract (SN contract), the uninsured and asymmetric information contract (AN contract), the insured and symmetric information contract (SY contract), and the insured and asymmetric information contract (AY contract). Through comparative analysis of the different types of contracts, several results are obtained. First, when there is no insurance, supervision of the leading enterprise can improve the farmer’s level of effort; but supervision costs are incurred, and incentive contracts can avoid the farmer’s moral hazard. Second, agricultural income insurance improves the farmer’s level of effort when information is asymmetric, which transfers risks and saves costs for all the game participants. Third, the leading enterprise prefers an asymmetric information contract and the farmer prefers AN contract when the probability of loan repayment is high.
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Wu, Yong, Giri Kumar Tayi, Genzhong Feng, and Richard Y. K. Fung. "Managing Information Security Outsourcing in a Dynamic Cooperation Environment." Journal of the Association for Information Systems 22, no. 3 (2021): 827–50. http://dx.doi.org/10.17705/1jais.00681.
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To efficiently manage information security, firms typically outsource part of their security functions to a managed security service provider (MSSP) under a variety of contractual arrangements. Based on this practice, we study a business setting in which the management of security outsourcing depends on the security efforts of both the MSSP and its clients, taking into account that their allocation of efforts can change during the contract horizon. Since their efforts are private to each other, a double moral hazard (DMH) problem can arise with the use of bilateral refund contracts, which have been widely adopted in the MSSP industry. Moreover, both the high probability of undirected attacks and system interdependency can exacerbate the DMH problem. We propose two new types of contracts to solve this problem. One is a monitoring contract, in which a cyberinsurance firm monitors the security efforts of the MSSP and its clients. The other is a liability contract, in which both parties take full liability for breaches through rewarding clients who are well protected and penalizing clients who end up being breached by hackers. Our findings show that monitoring contracts can only solve the DMH problem when variable monitoring costs are negligible. Liability contracts can also solve the DMH problem and are worth implementing when an MSSP encounters (1) a high probability of undirected attack, (2) high system interdependency, (3) a long contract horizon, or (4) when both parties have nearly equal responsibility over the course of the contract horizon. We also compare the proposed contracts in two additional settings: when the MSSP has a spillover effect and when the MSSP serves three or more clients.
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Benamraoui, Abdelhafid, and Yousef Alwardat. "Asymmetric Information and Islamic Financial Contracts." International Journal of Economics and Finance 11, no. 1 (December 15, 2018): 96. http://dx.doi.org/10.5539/ijef.v11n1p96.
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This research paper aims to examine the relevance of asymmetric information to the two main financial contracts used by Islamic banks or conventional banks with Islamic windows, mudaraba and musharaka. We use theoretical proofs to explain how asymmetric information affects mudaraba and musharaka contract in terms of bank cost and yield and how to account for the adverse selection and moral hazard costs when calculating bank net profit or loss. We also provide suggestions supported by key modern theories including signalling, comparative advantage and incentives to resolve asymmetric information problems in the Islamic financial contracts. The research paper shows that asymmetric information is relevant to both mudaraba and musharaka contracts and directly affects Islamic banks and conventional banks with Islamic windows cost and yield. The paper also reveals that signalling and incentives are effective tools to deal with asymmetric information in Islamic financial contracts. Finally, the paper shows that Islamic finance providers need to opt for more secure financing, particularly with small borrowers.
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Dekker, Henri C., Takaharu Kawai, and Junya Sakaguchi. "The Interfirm Contracting Value of Management Accounting Information." Journal of Management Accounting Research 31, no. 2 (February 1, 2018): 59–74. http://dx.doi.org/10.2308/jmar-52058.
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ABSTRACT We examine how firms' management accounting information influences interfirm contract design. We theorize that comprehensive accounting information enables firms to design more complete contracts with suppliers, as indicated by increased issue inclusiveness and clause specificity. Survey data of Japanese manufacturing firms about the management of supplier relationships support the expectation that comprehensive management accounting information enables the development of more inclusive and specific contracts with suppliers. These contracts are also less subject to additional informal agreements between exchange partners. These results are consistent with the idea that better accounting information enables more complete contracting.
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Sanusi Bintang, Mujibussalim Mujibussalim, Mahfud Mahfud, and Fikri Fikri. "CONFIDENTIALITY CLAUSES IN INVESTOR-STATE CONTRACTS FOR THE PROTECTION OF TRADE SECRETS AFTER PROMULGATION OF THE INDONESIAN ACT ON PUBLIC INFORMATION DISCLOSURE." IIUM Law Journal 29, (S2) (November 3, 2021): 115–41. http://dx.doi.org/10.31436/iiumlj.v29i(s2).682.
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A confidentiality clause is a clause in investor-state contracts which is in the operative part of the contract to guarantee adequate protection of the trade secrets of the contracting parties. This article argues that there is a need to change the current practice where investor-state contracts in Indonesia utilizes broadly defined confidentiality clauses as a means to protect trade secrets in international business transactions. This is because a broadly defined confidentiality clause is contradictory to the provisions of the Act on Public Information Disclosure (APID). APID is aimed mainly at providing public information disclosure. The public information includes public contracts, such as investor-state contracts. Therefore, a new model of the confidentiality clause is needed for the protection of trade secrets as intended by the Act on Trade Secrets (ATS) and contract law as well as public information disclosure as intended by APID. This article employs doctrinal legal research. The research utilized, primary, secondary, and tertiary legal authorities. The primary legal material intensively used in this article consists of mandatory-primary legal authorities, in the form of statutes and contracts. The contracts used are the investor-state contracts of Aceh Province, Indonesia. The finding shows that a new model of the confidentiality clause can be created by accommodating both the interest of the state for providing public information disclosure based on APID and the interest of investors for the protection of trade secrets based on ATS and contract law. Investor-state contracts are a specific type of contract which has specific characteristics that apply to both private law and public law. They are different from purely international commercial contracts which only apply private law. Investor-state contract drafters need to be aware of this difference and provide a more balanced confidentiality clause in the contracts.
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Nilchian, Siamak, Javad Majrouhi Sardroud, Mehrab Darabpour, and Shahriar Tavousi Tafreshi. "Features and Conditions of Building Information Modeling Contracts." Buildings 12, no. 11 (November 1, 2022): 1839. http://dx.doi.org/10.3390/buildings12111839.
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Building information modeling (BIM) has improved efficiency in construction projects by utilizing digital instrument capabilities. However, the use of this technology has brought new challenges, particularly legal and contract issues. Conventional construction contracts cannot respond to specific BIM conditions. Therefore, several contract solutions have been proposed to tackle this problem. Despite significant efforts, researchers are still attempting to develop a suitable contract framework and conditions due to the complexities of BIM technical and legal aspects. The present study reviews the solutions developed within seven pioneer countries in BIM and collects the views of construction experts selected by the snowball sampling method in order to identify the most crucial factors that should be considered in BIM contracts. This work incorporated and analyzed 47 questions relating to BIM legal and contract factors in five groups, including BIM contractual basics, BIM contractual obligations and approvals, BIM ownership and copyright, general rules, and other contractual topics. The findings could be exploited to develop a proper BIM contract framework in compliance with construction rules and conditions.
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Chyrva, Yuliia, and Dmitry Yevstrat. "Types and classification of contracts in the field of information technologies." Bulletin of Kharkov National Automobile and Highway University, no. 96 (May 24, 2022): 100. http://dx.doi.org/10.30977/bul.2219-5548.2022.96.0.100.
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Problem. It is determined that despite the peculiarities of different models of IT business and the predominance of outsourcing in the domestic economic space, the condition for ensuring efficient business and avoiding various fines and financial losses is to build activities based on a system of acceptable contracts. It is proved that the systematized classification of contracts allows not only to determine the main features or essential features of a contract, but also promotes the development of IT - business, because it improves mutual understanding between developers and customers. The existing types and classifications of contracts on certain grounds are considered, the limitations of their practical application are determined. Goal. The goal of the research is to generalize the types of contracts used in the IT field, with the separation of classification features. Methodology. Methods of analysis and synthesis, induction and deduction are used; analogies and comparisons; methods of classification and systematization. Results. On the basis of the analysis of special literature and generalization of practical experience the limitations of the existing classifications are determined, the systematization and improvement of the types of contracts in the field of information technologies is carried out. The criteria of systematization are highlighted and the essence of the types of contracts, their peculiarities of application taking into account various criteria are revealed. Originality. It is proposed to classify contracts in the field of information technology according to the methodology of software development into Waterfall – cascade system and Agile – flexible system; by jurisdiction – to distinguish out staffing, freelance, subcontracting and offering; by payment system – Time & Material and Fixed Price (Fixed Bid, Fixed Fee); by the number of parties to the agreement – unilateral, bilateral and multilateral; by methods of protection against unscrupulous behavior of employees and contractors – Non-Disclosure Agreement, Non-Compete Agreement, Non-Solicitation Agreement; by geographical feature – international and national; depending on the moment from which the contract is considered concluded – consensual and real contracts. Practical value. The application of the proposed classification of contracts allows product, service and hybrid companies to find out the essential features of a contract and in everyday practice to apply those contracts that best meet the characteristics of their business models based on various criteria.
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Liu, Weihua, Wanying Wei, Xiaoyu Yan, and Di Wang. "Supply Contract Design with Asymmetric Corporate Social Responsibility Cost Information in Service Supply Chain." Sustainability 11, no. 5 (March 6, 2019): 1408. http://dx.doi.org/10.3390/su11051408.
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Corporate social responsibility (CSR) has become the focus of the company’s daily operations and strategic choices. At present, the supply risk events caused by the CSR violations of service providers in the service supply chain are frequent, which highlight the importance of formulating appropriate contracts to constrain the CSR level of providers. In the context of asymmetric CSR cost information, this paper analyzes the optimal contract parameters of integrators when providing screening contracts or pooling contracts and compares their impact on profits and the CSR level. The information asymmetry belongs to classic principal-agent problem, and we will use the revelation principle to design the contracts and solve this problem. The results that different contracts have different effects on the CSR level of different types of providers. A low-cost provider’s CSR level is the highest when a screening contract is provided, while a high-cost provider’s CSR level reaches the peak under a pooling contract. If pursuing profit maximization, the integrator should choose to provide a screening contract. When the integrator needs to ensure a higher average level of social responsibility, a pooling contract should be chosen. The findings also show that service cost is an important factor affecting the CSR level of the provider, and only when the providers’ service cost is low, will providers actively fulfill their social responsibility.
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Yost, Jeffrey A., and W. Ken Harmon. "Contracting for Information System Outsourcing with Multiple Bidders." Journal of Information Systems 16, no. 1 (March 1, 2002): 49–59. http://dx.doi.org/10.2308/jis.2002.16.1.49.
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Outsourcing of information systems (IS) is becoming an increasingly popular phenomenon. However, most problems that arise in outsourcing arrangements can be traced to the contract between the company and the IS vendor. Of particular concern are the types of information available for contracting and the observability of that information. This paper examines the form of such outsourcing contracts by casting the problem in a principalagent setting using the theory of mechanism design. The analysis we provide helps to (1) define the optimal contract for IS outsourcing, (2) understand the effect of unobservability on the form of the contract, and (3) examine the effect of multiple bidders. In summary, our analysis finds support for the growing trend toward equity-based contracts and partnership agreements in outsourcing relationships.
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He, Xuezhi, Tan Yang, and Liping Chen. "CTRF: Ethereum-Based Ponzi Contract Identification." Security and Communication Networks 2022 (March 29, 2022): 1–10. http://dx.doi.org/10.1155/2022/1554752.
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In recent years, blockchain technology has been developing rapidly. More and more traditional industries are using blockchain as a platform for information storage and financial transactions, mainly because of its new characteristics of non-tamperability and decentralization compared with the traditional systems. As a representative of blockchain 2.0, Ethereum has gained popularity upon its introduction. However, because of the anonymity of blockchain, Ethereum has also attracted the attention of some unscrupulous people. Currently, millions of contracts are deployed on Ethereum, many of which are fraudulent contracts deployed by unscrupulous people for profit, and these contracts are causing huge losses to investors worldwide. Ponzi contracts are typical of these contracts, which mainly reward the funds invested by later investors to early investors, and later investors will have no gain. However, although there are some studies for identifying Ponzi contracts on Ethereum, there is some room for progress in the research. Therefore, we propose a method to detect Ponzi scheme contracts on Ethereum-CTRF. This method forms a dataset by extracting the word features and sequence features of the smart contract’s code and the features of transactions. The dataset is divided into a training set and a test set. Oversampling is performed on the training set to deal with the problem of positive and negative sample imbalance. Finally, the model is trained on the training set and tested on the test set. The experimental results show that the model has significantly improved recall compared with existing Ponzi contract detection methods.
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Grundmann, Stefan. "Trust, Information and Pre-contractual Liability." European Review of Contract Law 18, no. 3 (September 1, 2022): 224–60. http://dx.doi.org/10.1515/ercl-2022-2047.
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Abstract This article explores on two ‘strangers’ for contract law – even though, at second sight, they both would seem truly seminal to contract law. This is, on the one hand, investment advice and more generally (pre-)contractual relationships on the giving of information in capital markets – arguably the largest market and contract segment in developed market economies, or at least one of the largest, but typically rather discussed only in specialised circles. This is, on the other hand, a broad pluralist interdisciplinary theory on trust in its relationship to information – largely underexplored and even missing in parts, even though absolutely core for all trust elements in contracts. There are not few of them. The core argument is that, if sociological, ethical and philosophical approaches are included, the outcome is grossly different from what ensues from the reference to the findings of institutional economics – so far dominant at least in financial services contracts. This is true namely for the desirable design of information, for the focus on specific groups of addressees and as well for the (traditionally rather high) prerequisites of pre-contractual liability.
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Negara, Edi Surya, Achmad Nizar Hidayanto, Ria Andryani, and Rezki Syaputra. "Survey of Smart Contract Framework and Its Application." Information 12, no. 7 (June 22, 2021): 257. http://dx.doi.org/10.3390/info12070257.
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This article is a literature review on smart contract applications in various domains. The aim is to investigate technological developments and implementation of smart contracts in various domains. For this purpose, the theoretical basis of various papers that have been published in recent years is used as a source of theoretical and implementation studies. Smart contracts are the latest technology that is developing in line with the development of blockchain technology. The literature review that we have carried out explains that smart contracts work automatically, control, or document legally relevant events and actions in accordance with the agreements set forth in the contract agreement. This technology is one of the newest technologies that is expected to provide solutions for trust, security, and transparency in various domains. This literature review was conducted using an exploratory approach. This literature review focuses on reviewing frameworks, methods, and simulations of smart contract implementations in various domains.
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White, Kristy. "Book Review: Library Licensing: A Manual for Busy Librarians." Library Resources & Technical Services 64, no. 3 (July 31, 2020): 139. http://dx.doi.org/10.5860/lrts.64n3.139-140.
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One of the many challenges librarians face is reviewing and negotiating licensing agreements. Halaychik and Reagan discuss these challenges in Library Licensing: A Manual for Busy Librarians. The scope of this book is much broader than the title seems to indicate, covering not only license-related topics regarding electronic resources in its six chapters, but also information on contract management software, Integrated Library Systems (ILS) and maintenance, and services agreements. For this reason, the book can feel unfocused at times. Chapter 1 briefly introduces basic information about contracts, while chapters 2 through 6 give a broad overview of the mechanics of a contract (including common clauses within contracts) and information concerning organizing, managing, and administering contracts, with examples of checklists and contracts in chapter 5 and subsequent appendixes.
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Lei, Yi-feng, Jun Zhou, and Ting Zhou. "The Optimal Contract Complexity for Coordination Mechanisms of Supply Chain." Journal of Management and Humanity Research 06 (2021): 61–78. http://dx.doi.org/10.22457/jmhr.v06a042134.
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This paper considers a supply chain system which consists of a supplier and a retailer. The purpose is to investigate the impact of contract complexity on supply chain coordination under complete information. The supplier drafts contracts, which include wholesale price contracts and simple quantity discount contracts. These contracts are of different complexity. The retailer chooses one of the supplier-designed contracts to optimize its profit. This study shows that a complex contract with an infinite number of price breaks can achieve the coordination of a general supply chain. It can also arbitrarily distribute supply chain profit under mild conditions. Theoretically, this is the optimal contract. However, it is difficult to implement in practice. Complex contracts with limited price breaks can improve the performance of the decentralized supply chain system compared to simple contracts (i.e. wholesale price contracts), but neither can coordinate the general supply chain. In addition, as the complexity of the contract increases, the performance of the decentralized supply chains continues to decline. This means that the increased in contract complexity does not necessarily increase the efficiency of supply chain contracts. Our study suggest that a three-price contract (all-unit quantity discount contract with two price breaks), although theoretically suboptimal, is sufficient for a general supply chain and should be preferred in practice.
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Szalay, Dezsö. "Contracts with endogenous information." Games and Economic Behavior 65, no. 2 (March 2009): 586–625. http://dx.doi.org/10.1016/j.geb.2008.01.012.
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Chen, Xue, Bo Li, and Simin An. "Option contract design for supply chains under asymmetric cost information." Kybernetes 48, no. 5 (May 7, 2019): 835–60. http://dx.doi.org/10.1108/k-12-2017-0495.
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Purpose A lack of visibility into the manufacturer’s production cost information impedes a retailer’s ability to maximize her own profits, especially when market demand is uncertain. The purpose of this paper is to investigate the use of an option contract within a one-period two-echelon supply chain in the presence of asymmetric cost information. Design/methodology/approach Based on the principal-agent model, the retailer, acting as a Stackelberg leader, offers a menu of option contracts to mitigate the risk of uncertain demand and reveal asymmetric production cost information. The optimal contract in asymmetric and symmetric information scenarios is derived. Finally, the impact of production costs on the optimal contracts and the actors’ profits is explored by numerical experiments. Findings By comparing the optimal equilibrium solutions in two scenarios, the authors show that asymmetric cost information has a large impact on the optimal option contract and profits. In addition, information rent is affected by the type differential. The results prove that the level of information asymmetry plays a vital role in option contracts and profits. Originality/value Different from the existing literature on private demand information, this paper considers a supply chain with asymmetric cost information in the context of option contracts. Interestingly, not only the production cost but also the probability of a low production cost can affect the option strike price. In addition, from the perspective of the manufacturer, a high cost does not always bring a high information rent. These findings can provide some guidance to decision-makers.
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Filippova, S. Y. "Conclusion and performance of commercial contracts with the use of information technologies." Digital Law Journal 3, no. 3 (October 2, 2022): 58–78. http://dx.doi.org/10.38044/2686-9136-2022-3-3-58-78.
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The article attempts to evaluate the possibilities of using blockchain and smart contract technologies, as well as big data and artificial intelligence technologies in traditional commercial contracts. In addition, the author illustrates the legal risks of using information technologies and the limits of their implementation in the field of contract law. The goal chosen by the author predetermined the use of the formal legal method in the analysis of the current legal norms. At the same time, it is impossible to imagine the search for answers to the questions without referring to the comparative legal method: in the article, the author refers to the views of English and American scholars when considering the problems of using artificial intelligence technology in commercial contracts.As a result of the research, the author comes to the conclusion that firstly smart contracts designed for automatic transactions on the Internet do not allow moving real goods in the real world, therefore the scope of their use is only limited to the conclusion, but not to the execution of contracts of sale. Secondly, a smart contract can completely supplant traditional contracts and obligations in mediation contracts aimed at performing only legal actions. Thirdly, there is a problem of ensuring the right to privacy when using big data, therefore, the commercial use of the collected data, though does improve sales, violates basic human rights. And finally, the mastered capabilities for automating the processes of selecting counterparties, determining and changing storage conditions, tracking the balance of goods in the warehouse, etc., allow author to discuss the potentially great possibilities of using AI in commerce.
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Abd Ali, Raid Saleem, and Nooran kanaan Yassin. "Statistical Evaluation for claims and disputes in construction contracts." Wasit Journal of Engineering Sciences 5, no. 2 (May 14, 2017): 80–96. http://dx.doi.org/10.31185/ejuow.vol5.iss2.61.
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This research aims to diagnose and identify the causes of claims and disputes between the contractor and the employer, also review the methods used to resolve disputes in construction contracts. In order to achieve the goal of the research, scientific methodology is followed to collect information and data on the subject of claims and disputes in construction projects in Iraq through personal interviews and questionnaire form. The most important results in this research are: the price schedule contract as a kind of competitive contracts is the most important and guarantee for the completion of minimum level of claims and disputes with relative importance of (84.1), compared with the (cost plus a percentage of the cost contract) as a kind of negotiating contracts is the most relative importance of (79.6), and the turnkey contract as a kind of special contracts is the most relative importance of (74.2). The contractor and his agents are one of the most influence sources in occurring claims and disputes in construction contracts with relative importance of (77.4) followed by the contract documents with relative importance of (74.2) and then the employer with relative importance of (73.2). In addition to the long period of litigation and the multiplicity of veto grades are most negative when contractual disputes have resolved by it, and with relative importance of (86), followed by the large number of issues and lack of efficiency and specialty of Judges with relative importance (78.4). Finally, the direct negotiation method (relative importance of 77) is one of the most friendly settlement ways favored by conflicted parties, while the resolution of disputes and claims board (relative importance of 10) occupied the last rank in the friendly settlement ways.
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Salleh, Rozana Mohamed, Nur Emma Mustaffa, and Nafisah Abdul Rahiman. "The Adoption of Building Information Modelling and Intelligent Contract to Payment Process in Malaysian Conventional Contract." Journal of Computational and Theoretical Nanoscience 17, no. 2 (February 1, 2020): 1378–87. http://dx.doi.org/10.1166/jctn.2020.8814.
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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.
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Halac, Marina, Elliot Lipnowski, and Daniel Rappoport. "Addressing Strategic Uncertainty with Incentives and Information." AEA Papers and Proceedings 112 (May 1, 2022): 431–37. http://dx.doi.org/10.1257/pandp.20221087.
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A principal privately contracts with a set of agents who then simultaneously make a binary decision. Each contract specifies an individual allocation and the information the agent is given about a fundamental state and other agents' contracts. We study the principal's optimal scheme that induces a desired action profile as the unique rationalizable outcome. Our main result reduces this multiagent problem to a two-step procedure where information is designed agent-by-agent: the principal chooses a fundamental-state-contingent distribution over agent rankings and, separately for each agent, the agent's information about the realized ranking and fundamental states. We illustrate with a team-production application.
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Pardana, I. Nyoman Adi, Sihabudin Sihabudin, and Dhiana Puspitawati. "Implikasi Hukum Penggunaan Data Pribadi Pihak Ketiga Terhadap Keabsahan Perjanjian Pinjam Meminjam Uang Berbasis Teknologi Informasi." Jurnal Ilmiah Pendidikan Pancasila dan Kewarganegaraan 4, no. 2 (January 6, 2020): 341. http://dx.doi.org/10.17977/um019v4i2p341-351.
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This study focuses on discussing the validity of information technology-based loan contracts and the use of third party personal data for company activities in the event of default. This study uses a normative juridical method with a legislative approach and a case approach. Loan contracts use legitimate electronic transactions if there is a contract of the parties that bind themselves. An information technology-based loan contracts to borrow money using third party personal data without permission will not cancel the contract. A third party can apply to the court to cancel himself as a party involved in the agreement.
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Kaczorowska, Bogna. "Juridical Status of So-called Smart Contracts against the Background of the Polish Legal Framework." Masaryk University Journal of Law and Technology 13, no. 2 (September 30, 2019): 189–218. http://dx.doi.org/10.5817/mujlt2019-2-3.
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Among substantial advancements challenging contemporary contract law special attention is given to autonomous, cryptographic solutions based on decentralised infrastructure provided by blockchain technology, intended to execute transactions automatically, designated as smart contracts. The need for comprehensive research on legal implications of practical implementation of this technological innovation is triggered particularly by the prognostications declaring it a valid alternative to hitherto contract law framework that is expected to be ultimately replaced by algorithmic mechanisms underpinning smart contracts.A relevant assessment of the impact smart contracts are presumed to have on the contract law domain requires a thorough analysis of their juridical status. The specificity of the category of smart contracts raises doubts whether they comply with the definition criteria inherent to contract law terminology. Additionally, it is of material importance to determine the function smart contracts can perform in the sphere of contractual practice and to confront it with the role and axiology of contract law.The article aims at analysing the peculiarities of smart contracts from the perspective of the Polish private law system with account being also taken of current development tendencies concerning the concept of contract.
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Kołodziej, Robert. "Zur Problematik des Textanfangs am Beispiel der Vertragstexte." tekst i dyskurs - text und diskurs, no. 13 (2020) (December 30, 2020): 273–98. http://dx.doi.org/10.7311/tid.13.2020.14.
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The paper discusses the problems of the opening a text texts as exemplified by contracts. Twelve contracts were examined, including sales contracts, construction contracts, lease contracts, rental contracts and employment contracts. The contract was defined as a text type. Aspects such as a text’s subject matter, function and structure are particularly important for the determination of its opening and its delimitation from the remaining parts of the text. The article illustrates the ways in which these elements determine the opening of the text. The article also contains information on other studies on text openings.
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Duan, Zhihao, Wenlong Feng, Wang Zhong, Mengxing Huang, and Siling Feng. "Form Specification of Smart Contract for Intellectual Property Transaction Based on Blockchain." Wireless Communications and Mobile Computing 2022 (August 21, 2022): 1–9. http://dx.doi.org/10.1155/2022/3274454.
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In view of the current chaotic structure of smart contracts and no unified definition of smart contracts, the implementation of smart contracts for the same business in the same field is quite different due to different development institutions and operating platforms, resulting in a low level of smart contract sharing and high development costs, hindering the development of smart contracts. Combined with the intellectual property transaction scenario, this paper proposes a blockchain-based intellectual property transaction smart contract form specification, designs the overall structure and process specification of the smart contract in the intellectual property transaction process, formulates a standard for the standardization of smart contract writing in intellectual property transaction scenarios, and solves the current chaotic structure of intellectual property transaction smart contracts, which is conducive to the collaborative development of scholars in various fields.
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Rosario, Sidney, Albert Benveniste, and Claude Jard. "Flexible Probabilistic QoS Management of Orchestrations." International Journal of Web Services Research 7, no. 2 (April 2010): 21–42. http://dx.doi.org/10.4018/jwsr.2010040102.
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In this paper, the authors develop a comprehensive framework for QoS management based on soft probabilistic contracts. The authors approach also encompasses general QoS parameters, with “response time” as a particular case. In addition, the authors support composite QoS parameters, for example, combining timing aspects with “quality of data” or security level. They also study contract composition (how to derive QoS contracts for an orchestration from the QoS contracts with its called services), and contract monitoring.
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FANTINATO, MARCELO, MARIA BEATRIZ FELGAR DE TOLEDO, and ITANA MARIA DE SOUZA GIMENES. "WS-CONTRACT ESTABLISHMENT WITH QOS: AN APPROACH BASED ON FEATURE MODELING." International Journal of Cooperative Information Systems 17, no. 03 (September 2008): 373–407. http://dx.doi.org/10.1142/s0218843008001889.
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Electronic contracts describe inter-organizational business processes in terms of supply and consumption of electronic services (commonly Web services). The establishment of e-contracts in a particular business domain usually involves a set of well-defined common and variable properties. These properties are not fully exploited by the existing e-contract establishment approaches. Feature modeling is a software engineering technique that has been widely used for capturing and managing commonalities and variabilities of product families in the context of software product line. This paper presents a feature-based approach to support Web services e-contract (WS-contract) establishment. The approach aims at improving the information structure and reuse of WS-contracts, including the QoS attributes. Features are used to represent possible WS-contract elements in order to drive WS-contract template instantiation, thus acting as a configuration space manager. A toolkit named FeatureContract was developed to automatically support the proposed approach. A case study was carried out within the telecom context to show the approach feasibility.
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Cheng, Mengyuan, Guoliang Liu, Yongshun Xu, and Ming Chi. "Enhancing Trust Between PPP Partners: The Role of Contractual Functions and Information Transparency." SAGE Open 11, no. 3 (July 2021): 215824402110382. http://dx.doi.org/10.1177/21582440211038245.
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Contracts are essential for managing the relationship among public–private partnership (PPP) partners. However, the impact of contracts on the trust between partners is unclear, especially in PPP projects. From the multifunctional perspective of contracts, this study aims to investigate how different dimensions of contractual functions affect distinct types of trust and the moderating role of information transparency between them. The empirical results of the data collected from Chinese PPP professionals show that the three dimensions of contractual functions have positive effects on trust, including goodwill trust and competence trust. However, contractual adaptation has the strongest impact. Moreover, information transparency positively moderates the relationship between contractual control, adaptation, and trust. This study provides new insights on contracts and trust in PPP projects. It can guide PPP project partners to value the process of contract design and information disclosure to cultivate specific types of trust.
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Losada-Maseda, Jesus Javier, Laura Castro-Santos, Manuel Ángel Graña-López, Ana Isabel García-Diez, and Almudena Filgueira-Vizoso. "Analysis of Contracts to Build Energy Infrastructures to Optimize the OPEX." Sustainability 12, no. 17 (September 3, 2020): 7232. http://dx.doi.org/10.3390/su12177232.
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The employer (owner) of the project wants to obtain the maximum profit for the money invested and the consultant (contractor) will try to give less for that money. The regulation of their relationship is based on the contractual agreement, which in the energy sector is mainly based on the engineering, procurement, and construction (EPC) model. The objective of this work was to evaluate which factors should be included in the drafting of contracts, to minimize problems between the parties, and thus minimize execution costs and optimize operation and maintenance costs. Information and data on the integration of operability and maintainability criteria in contracts for 158 projects, with a total contract value of close to €40,000M, were analyzed. Several of those projects corresponded to wind, solar, and hydroelectric plants. The information collected the perception of the agents involved, and was classified according to the experience of the agents consulted in the operation and maintenance areas. Finally, the proposed criteria were prioritized. In general, the owner is willing to introduce these criteria in his contracts if they reduce the operation and maintenance cost by around 1–5%, while the contractor is interested in increasing his probability to be selected by 1–3%.
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Domberger, Simon, Patrick Fernandez, and Denzil G. Fiebig. "Modelling the Price, Performance and Contract Characteristics of it Outsourcing." Journal of Information Technology 15, no. 2 (June 2000): 107–18. http://dx.doi.org/10.1177/026839620001500203.
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The rapidly increasing use of outsourcing for IT services, both in the public and private sectors, has attracted much interest from researchers and practitioners alike. While early studies of IT outsourcing were largely qualitative in nature, more recent studies have attempted to analyse the outcomes achieved in quantitative terms. This paper is consistent with the latter, but goes further by modelling the price, performance and contract characteristics that are relevant to IT outsourcing. A two-equation recursive regression model was used to analyse 48 contracts for IT support and maintenance. The results did not reveal any quantitatively significant price-performance trade-off, but did suggest that first-term contracts (i.e. the first ever contract awarded by a client for the provision of a particular IT service) were more expensive than repeat contracts. Although competitive tendering did not result in lower prices than directly negotiated contracts, it was associated with comparatively better performance. Well-defined expectations of an organization's IT requirements were also likely to lead to improved performance when the service was outsourced.
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Żok, Krzysztof. "Cloud Computing Contracts as Contracts for the Supply of Digital Content: Classification and Information Duty." Masaryk University Journal of Law and Technology 13, no. 2 (September 30, 2019): 133–60. http://dx.doi.org/10.5817/mujlt2019-2-1.
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Cloud computing contracts are among the most frequently concluded contracts over the Internet. Until now, however, they have been considered mainly from the perspective of data protection and intellectual property laws. Although these analyses provide valuable insights, they do not fully cover an important area, i.e. consumer protection. The article focuses on the latter issue, taking Consumer Rights Directive as a reference point. The Directive is one of the latest acts concerning consumer protection in the European Union. It also introduces a new type of agreement that should cover cloud computing contracts. In addition, characteristically for European law, it provides for an information duty as a means of consumer protection. The article examines these two aspects by seeking an answer to the following questions: (1) do cloud computing contracts classify as contracts for the supply of digital content? And (2) do the provisions on information duty suit well cloud computing contracts? The analysis includes the results of empirical studies of these contracts. In the conclusion, the article states that the new type of contract may not significantly improve consumer protection, mainly due to the ambiguity resulting from recital 19 of the Directive. On the other hand, consumers may benefit from the provisions on information duty, though it does not directly address the main problems connected with cloud computing contracts.The article is divided into four parts. The first provides an introduction to the topic. The second discusses cloud computing contracts as contracts for the supply of digital content. The third analyses the provisions on information duty from the point of view of the contracts under consideration. Finally, the fourth summarises previous comments.
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Tafkov, Ivo D. "Private and Public Relative Performance Information under Different Compensation Contracts." Accounting Review 88, no. 1 (August 1, 2012): 327–50. http://dx.doi.org/10.2308/accr-50292.
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ABSTRACT: This study investigates the conditions under which providing relative performance information to employees has a positive effect on performance when compensation is not tied to peer performance. Specifically, I investigate, via an experiment, the effect of relative performance information (present or absent) on performance under two compensation contracts (flat-wage or individual performance-based). Given the presence of relative performance information, I examine the effect of the type of relative performance information (private or public) on performance. Using theory from psychology, I predict and find that relative performance information positively affects performance under the two compensation contracts and that this positive effect is greater under an individual performance-based contract than under a flat-wage contract. I also predict and find that, although both public and private relative performance information have a positive effect on performance, the effect is greater when relative performance information is public. Data Availability: Data are available from the author on request.
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GOVERNATORI, GUIDO, and ZORAN MILOSEVIC. "A FORMAL ANALYSIS OF A BUSINESS CONTRACT LANGUAGE." International Journal of Cooperative Information Systems 15, no. 04 (December 2006): 659–85. http://dx.doi.org/10.1142/s0218843006001529.
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This paper presents a formal system for reasoning about violations of obligations in contracts. The system is based on the formalism for the representation of contrary-to-duty obligations. These are the obligations that take place when other obligations are violated as typically applied to penalties in contracts. The paper shows how this formalism can be mapped onto the key policy concepts of a contract specification language, called Business Contract Language (BCL), previously developed to express contract conditions for run time contract monitoring. The aim of this mapping is to establish a formal underpinning for this key subset of BCL.
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LININGTON, PETER F. "AUTOMATING SUPPORT FOR E-BUSINESS CONTRACTS." International Journal of Cooperative Information Systems 14, no. 02n03 (June 2005): 77–98. http://dx.doi.org/10.1142/s0218843005001122.
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If e-business contracts are to be widely used, they need to be supported by the IT infrastructure of the organizations concerned. This implies that the interactions between systems in different organizations must be guided by the contract and there must be sufficiently strong checks and balances to ensure that the contract is in fact obeyed. This includes facilities for the unbiased monitoring of correct behaviour and the reporting of exceptions. One of the ways to provide this support is to generate it directly from the agreed contract. This paper considers the steps necessary to provide sufficient automation in the support and checking of e-Business contracts for them to offer efficiency gains and so to become widely used. It focuses on the role of models, taking a model-driven approach to development and discussing both the source and target models and the transformational pathways needed to support the contract-based business processes.
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Gutiérrez, Oscar, and Vicente Salas-Fumás. "Agency Contracts under Maximum-Entropy." Entropy 23, no. 8 (July 26, 2021): 957. http://dx.doi.org/10.3390/e23080957.
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This article proposes the application of the maximum-entropy principle (MEP) to agency contracting (where a principal hires an agent to make decisions on their behalf) in situations where the principal and agent only have partial knowledge on the probability distribution of the output conditioned on the agent’s actions. The paper characterizes the second-best agency contract from a maximum entropy distribution (MED) obtained from applying the MEP to the agency situation consistently with the information available. We show that, with the minimum shared information about the output distribution for the agency relationship to take place, the second-best compensation contract is (a monotone transformation of) an increasing affine function of output. With additional information on the output distribution, the second-best optimal contracts can be more complex. The second-best contracts obtained theoretically from the MEP cover many compensation schemes observed in real agency relationships.
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Atmeh, Muhannad Ahmed, and Bassam Maali. "An accounting perspective on the use of combined contracts and donations in Islamic financial transactions." Journal of Islamic Accounting and Business Research 8, no. 1 (February 13, 2017): 54–69. http://dx.doi.org/10.1108/jiabr-07-2014-0024.
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Purpose The purpose of this paper is to investigate the techniques used by Islamic financial institutions (IFIs) to shift conventional instruments to Shariah-compliant instruments. The paper additionally aims to explore the effect of these techniques on financial reporting. Design/methodology/approach The study recognized two techniques used by the IFI: the combination of contracts which compartmentalizes the economic transaction into a series of linked sub-transactions, and the inclusion of donation (Tabarru) in commercial contracts. The paper also reviews the accounting treatment according to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), and compares it to the concepts adopted by the traditional financial reporting framework concepts (especially substance over form concept). Findings With regard to the combination of contracts technique, the major accounting challenge is whether the substance over form concept is considered. Mixed results are found: in some products, the economic substance is presented in the financial reports, while in other cases, the legal form of the contract is reported. This ambiguity may hinder the faithful representation of financial statements. The Tabarru contract is used to justify the risk-shifting practices by Islamic banks. The accounting effects of such contracts may result in failure to recognize assets or liabilities in the financial reports, earnings management and incomplete financial information for the users of the financial reports. Originality/value This study is a response to the call raised by the consultative group established by the International Accounting Standards Board. It provides an additional insight into the accounting treatments for a combination of contracts and Tabarru contracts. It also contrasts the accounting treatments, as stipulated by the AAOIFI, with the conventional accounting frameworks.
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Halonen-Akatwijuka, Maija, and Oliver Hart. "Continuing Contracts." Journal of Law, Economics, and Organization 36, no. 2 (January 29, 2020): 284–313. http://dx.doi.org/10.1093/jleo/ewz022.
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Abstract Parties often regulate their relationships through “continuing” contracts that are not fixed term but roll over: employment is a leading example. Our premise is that parties apply fairness when they revise a continuing contract and that prior terms, together with market information, will be a reference point. A continuing contract can reduce (re)negotiation costs relative to a short-term or long-term contract. However, fair bargaining makes adjusting to outside options difficult and may cause inefficient outcomes. An implicit promise of a long-term relationship, as in employment, can improve matters. (JEL D23, D86, K12).
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Pierro, Giuseppe Antonio, Roberto Tonelli, and Michele Marchesi. "An Organized Repository of Ethereum Smart Contracts’ Source Codes and Metrics." Future Internet 12, no. 11 (November 15, 2020): 197. http://dx.doi.org/10.3390/fi12110197.
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Many empirical software engineering studies show that there is a need for repositories where source codes are acquired, filtered and classified. During the last few years, Ethereum block explorer services have emerged as a popular project to explore and search for Ethereum blockchain data such as transactions, addresses, tokens, smart contracts’ source codes, prices and other activities taking place on the Ethereum blockchain. Despite the availability of this kind of service, retrieving specific information useful to empirical software engineering studies, such as the study of smart contracts’ software metrics, might require many subtasks, such as searching for specific transactions in a block, parsing files in HTML format, and filtering the smart contracts to remove duplicated code or unused smart contracts. In this paper, we afford this problem by creating Smart Corpus, a corpus of smart contracts in an organized, reasoned and up-to-date repository where Solidity source code and other metadata about Ethereum smart contracts can easily and systematically be retrieved. We present Smart Corpus’s design and its initial implementation, and we show how the data set of smart contracts’ source codes in a variety of programming languages can be queried and processed to get useful information on smart contracts and their software metrics. Smart Corpus aims to create a smart-contract repository where smart-contract data (source code, application binary interface (ABI) and byte code) are freely and immediately available and are classified based on the main software metrics identified in the scientific literature. Smart contracts’ source codes have been validated by EtherScan, and each contract comes with its own associated software metrics as computed by the freely available software PASO. Moreover, Smart Corpus can be easily extended as the number of new smart contracts increases day by day.
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Danchikov, E. A., Y. N. Kovalenko, and S. N. Kovalenko. "Information support of the procurement process in medical institutions." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 7 (July 25, 2022): 56–64. http://dx.doi.org/10.33920/med-17-2207-07.
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This article discusses the legislative and regulatory framework for the implementation of the procurement process. The possibilities of public procurement by medical institutions are being investigated. The procedure for determining the initial maximum contract price (NMCC) is evaluated. The total volume of purchases of a particular medical institution for the period of participation in procurement activities, as well as the structure of contracts concluded, is presented. The basic information approaches to public procurement in medical institutions are being formed. The object of purchase of a specific medical institution is described. The contracts concluded with the supplier for the supply of goods, works, services are evaluated from the point of view of compliance with all established norms and requirements.
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Fong, Yuk-Fai, and Jin Li. "Information Revelation in Relational Contracts." Review of Economic Studies 84, no. 1 (July 9, 2016): 277–99. http://dx.doi.org/10.1093/restud/rdw035.
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Crémer, Jacques, Fahad Khalil, and Jean-Charles Rochet. "Contracts and Productive Information Gathering." Games and Economic Behavior 25, no. 2 (November 1998): 174–93. http://dx.doi.org/10.1006/game.1998.0651.
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Terstiege, Stefan. "Endogenous information and stochastic contracts." Games and Economic Behavior 76, no. 2 (November 2012): 535–47. http://dx.doi.org/10.1016/j.geb.2012.08.001.
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Almanasra, Majd, Tareq Al-Billeh, Abdullah Alkhseilat, and Naji Alwerikat. "THE CONSUMER’S RIGHT TO RETRACT FROM THE ELECTRONIC CONTRACT." Journal of Southwest Jiaotong University 57, no. 6 (December 30, 2022): 567–74. http://dx.doi.org/10.35741/issn.0258-2724.57.6.53.
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E-commerce has evolved as a result of the global information revolution in the field of information and communication technology, and it opened great prospects for the implementation of different types of contracts due to this information revolution which has eliminated the geographical boundaries between the countries, and since e-commerce encompasses all commercial activities of commodity and services that are carried out using information technologies and through an international communication network and the use of electronic data exchange to carry out commercial transactions, for this reason, many merchants sought to access the e-consumers, to convince them of the goods or services they provide through the so-called e-contracts, in which the merchant uses numerous electronic marketing means to sell his goods without giving the consumer sufficient opportunity to contemplate about the contract and assess the need for the offered commodity, which affects his will and his decision to conclude such type of contracts, and therefore all international legislation worked to create a basis for the e-consumer protection, in line with the principle of contract force that proves the validity of contracts in force, with the exception of what is decided for the consumer’s right to retract the electronic contract as an option available to the electronic consumer in order to create a secure long term e-investment environment to attract the consumer towards the internet.
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Ye, X., N. Zeng, and M. König. "Visualization of blockchain-based smart contracts for delivery, acceptance, and payment process using BIM." IOP Conference Series: Earth and Environmental Science 1101, no. 4 (November 1, 2022): 042013. http://dx.doi.org/10.1088/1755-1315/1101/4/042013.
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Abstract Building Information Modeling (BIM) provides an excellent opportunity to digitally document and visually display construction projects’ information throughout their whole lifecycle. Another recent technology that fosters the digital transformation of the construction sector is blockchain-based smart contract. In combination with BIM models, such smart contract can be used for delivery, acceptance, and payment (DAP) process automation in the construction industry. The DAP process can be modelled by using smart contracts and securely stored via a blockchain. Since smart contracts are programming codes, for stakeholders it is difficult to understand what is exactly written in them. Therefore, it is necessary to visualize the state and executed transactions of the deployed smart contracts. In this paper, a framework is highlighted to record and visualize the status of the DAP processes by combining BIM with smart contracts using the Business Process Model and Notation (BPMN) to develop a smart contract system. With the help of suitable visualization concepts, the individual transactions of the blockchain can be displayed in a comprehensible way. The feasibility of the framework is presented through an illustrative implementation of the smart contract system. The proposed framework can help project participants better understand the current state of a smart contract.