Search results for: contract documents

Authors: Eunice Chiamaka Allen-Ngbale

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Prior to bill of lading (BOL), merchants travelled along with their goods; then recorded the goods in the ship’s mates’ register; and finally started selling the goods while in transit by way of BOL, indicative that BOL is negotiable. Common law doctrine of privity of contract did not allow the transfer of right to sue to a non-party to the contract. This created hardship to cargo owners, which made many jurisdictions enact laws in this regard. Bill of Lading Act 1855 (BLA) was enacted in the United Kingdom, which applied as statute of general application under section 375 Merchant Shipping Act 1990 (MSA) in Nigeria; and conferred contractual rights of the suit on consignees and endorsees, but on the passing of ownership upon or by reason of such consignment or endorsement on the shipment of the goods simultaneously. The repeal of section 375 MSA by section 439 MSA 2007 created a lacuna, and the doctrine of privity of contract is the extant law in Nigeria. The aim of this study is to evaluate laws governing the transfer of the contractual right of suit to a third party under the bill of lading in Nigeria. The specific objectives of this study are to ascertain: (i) whether the extant law of common law doctrine of privity of the contract covers the transfer of the right of suit to the third party under the bill of lading in Nigeria; (ii) impediment(s) of the common law to transfer such right in Nigeria in the absence of any legislation; (iii) the level of applicability of the doctrine of privity of contract as it relates to transfer of the contractual right of suit to third party under the bill of lading in Nigeria; and (iv) whether to proffer possible suggestion on how to fill the lacuna left by the repeal of Merchant Shipping Act 1990. This work adopted a doctrinal approach with reliance on primary and secondary source materials. It finds that the common law doctrine of privity of contract in Nigeria is retrogressive. This work recommends for amendment of the relevant statute to cure this defect/lacuna like other commonwealth nations for best international practices.

Keywords: contract of carriage by sea, doctrine of privity of contract, lawful holder of bill of lading, third party right of suit

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Authors: Ali Dulla

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This paper introduces a new dataset (and the methodology used to generate it) based on a wide range of historical Arabic documents containing clean data simple and homogeneous-page layouts. The experiments are implemented on printed and handwritten documents obtained respectively from some important libraries such as Qatar Digital Library, the British Library and the Library of Congress. We have gathered and commented on 150 archival document images from different locations and time periods. It is based on different documents from the 17th-19th century. The dataset comprises differing page layouts and degradations that challenge text line segmentation methods. Ground truth is produced using the Aletheia tool by PRImA and stored in an XML representation, in the PAGE (Page Analysis and Ground truth Elements) format. The dataset presented will be easily available to researchers world-wide for research into the obstacles facing various historical Arabic documents such as geometric correction of historical Arabic documents.

Keywords: dataset production, ground truth production, historical documents, arbitrary warping, geometric correction

Procedia PDF Downloads 142

Authors: Sahani Rathnasiri, Pritee Ray, Sardar M. N. Isalm, Carlos A. Vega-Mejia

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This study develops a cooperative game theory-based cost-sharing contract model for a business to consumer (B2C) e-commerce supply chain to minimize the overall supply chain costs and the individual costs within an information asymmetry scenario. The objective of this study is to address the issues of strategic interactions among the key players of the e-commerce supply chain operation, which impedes the optimal operational outcomes. Game theory has been included in the field of supply chain management to resolve strategic decision-making issues; however, most of the studies are limited only to two-echelons of the supply chains. Multi-echelon supply chain optimizations based on game-theoretic models are less explored in the previous literature. This study adopts a cooperative game model to focus on the common payoff of operations and addresses the issues of information asymmetry and coordination of a three-echelon e-commerce supply chain. The cost-sharing contract model integrates operational features such as production, inventory management and distribution with the contract related constraints. The outcomes of the model highlight the importance of maintaining lower operational costs by all players to obtain benefits from the cost-sharing contract. Further, the cost-sharing contract ensures true cost revelation, and hence eliminates the information asymmetry issues among the players. Comparing the results of the contract model with the de-centralized e-commerce supply chain operation further emphasizes that the cost-sharing contract derives Pareto-improved outcomes and minimizes the costs of overall e-commerce supply chain operation.

Keywords: cooperative game theory, cost-sharing contract, e-commerce supply chain, information asymmetry

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Authors: T. Spiegel, J. Siegmann, C. F. Durach

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Challenges resulting from an international and dynamic business environment are increasingly being passed on from manufacturing companies to external service providers. Especially providers of complex, customer-specific industry services have to cope with continuously changing requirements. This is particularly true for contract logistics service providers. They are forced to develop efficient and highly flexible structures and strategies to meet their customer’s needs. One core element they have to focus on is the reorganization of their service development and sales process. Based on an action research approach, this study develops and tests a concept to streamline tender management for contract logistics service providers. The concept of modularized service architecture is deployed in order to derive a practice-oriented approach for the modularization of complex service portfolios and the design of customized quotes. These findings are evaluated regarding their applicability in other service sectors and practical recommendations are given.

Keywords: contract logistics, modularization, service development, tender management

Procedia PDF Downloads 387

Authors: M. Bokhtiar Hasan, M. Delowar Hossain, Abu N. M. Wahid

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The principal aim of the study is to find out a way to effectively manage the agricultural risks like price volatility, weather risks, and fund shortage. To hedge price volatility, farmers sometimes make contracts with agro-traders but fail to protect themselves effectively due to not having legal framework for such contracts. The study extensively reviews existing literature and find evidence that the majority studies either deal with price volatility or weather risks. If we could address these risks through a single model, it would be more useful to both the farmers and traders. Intrinsically, the authors endeavor in this regard, and the key contribution of this study basically lies in it. Initially, we conduct a small survey aspiring to identify the shortcomings of existing contracts. Later, we propose a model encompassing forward and insurance contracts together where forward contract will be used to hedge price volatility and insurance contract will be used to protect weather risks. Contribution/Originality: The study adds to the existing literature through proposing an integrated model comprising of forward contract and crop insurance which will support both farmers and traders to cope with the agricultural risks like price volatility, weather hazards, and fund shortage. JEL Classifications: O13, Q13

Keywords: agriculture, forward contract, insurance contract, risk management, model

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Authors: Touila Ahmed, Elie Louis, Hamza Gharbi

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State of the art question answering models have recently shown impressive performance especially in a zero-shot setting. This approach is particularly useful when confronted with a highly diverse domain such as the legal field, in which it is increasingly difficult to have a dataset covering every notion and concept. In this work, we propose a flexible generative question answering approach to contract analysis as well as a weakly supervised procedure to leverage unannotated data and boost our models’ performance in general, and their zero-shot performance in particular.

Keywords: question answering, contract analysis, zero-shot, natural language processing, generative models, self-supervision

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Authors: Nadeem Akhtar, Hira Javed

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An important aspect of research is literature survey. Availability of a large amount of literature across different domains triggers the need for optimized systems which provide relevant literature to researchers. We propose a search system based on keywords for text documents. This experimental approach provides a hierarchical structure to the document corpus. The documents are labelled with keywords using KEA (Keyword Extraction Algorithm) and are automatically organized in a lattice structure using Formal Concept Analysis (FCA). This groups the semantically related documents together. The hierarchical structure, based on keywords gives out only those documents which precisely contain them. This approach open doors for multi-domain research. The documents across multiple domains which are indexed by similar keywords are grouped together. A hierarchical relationship between keywords is obtained. To signify the effectiveness of the approach, we have carried out the experiment and evaluation on Semeval-2010 Dataset. Results depict that the presented method is considerably successful in indexing of scientific papers.

Keywords: formal concept analysis, keyword extraction algorithm, scientific documents, lattice

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Authors: L. Hamsaveni, Navya Prakash, Suresha

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Document Image Analysis recognizes text and graphics in documents acquired as images. An approach without Optical Character Recognition (OCR) for degraded document image analysis has been adopted in this paper. The technique involves document imaging methods such as Image Fusing and Speeded Up Robust Features (SURF) Detection to identify and extract the degraded regions from a set of document images to obtain an original document with complete information. In case, degraded document image captured is skewed, it has to be straightened (deskew) to perform further process. A special format of image storing known as YCbCr is used as a tool to convert the Grayscale image to RGB image format. The presented algorithm is tested on various types of degraded documents such as printed documents, handwritten documents, old script documents and handwritten image sketches in documents. The purpose of this research is to obtain an original document for a given set of degraded documents of the same source.

Keywords: grayscale image format, image fusing, RGB image format, SURF detection, YCbCr image format

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Authors: Mifta Ul Jannat, Raju Ahmed, Al Mamun, Jannatul Ferdaus, Ritu Costa, Milon Biswas

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Blockchain is an internet-based invention that is coveted in the permanent, scumbled record for its capacity to openly accept, record, and distribute transactions. In a traditional supply chain, there are no trustworthy participants for an organic product. Yet blockchain engineering may provide confidence, transparency, and traceability. Blockchain varies in how companies get real, checked, and lasting information from their supply chain and lock in customers. In an arrangement of cryptographic squares, Blockchain digitizes each connection by sparing it. No one person may alter the documents, and any alteration within the agreement is clear to all. The coming to the record is tamper proof and unchanging, offering a complete history of the object’s life cycle and minimizing opening for extorting. The primary aim of this analysis is to identify the underlying problem that the customer faces. In this post, we will minimize the allocation of fraud data through the ’Smart Contract’ and include a certificate of quality assurance.

Keywords: blockchain technology, food supply chain, Ethereum, smart contract, quality assurance, trustability, security, transparency

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Authors: Abosede Priscilla Ipadeola

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The quest for egalitarian justice requires a suitable theoretical foundation that can address the problem of marginalization and subjugation arising from various forms of oppression, such as sexism, racism, classism, and others. Many thinkers and societies have appealed to contractarianism, a theory that has been widely regarded as a doctrine of egalitarianism by some political theorists for about five centuries. Despite its numerous criticisms, the social contract still enjoys a prominent status as a key theory for egalitarian justice. However, Pateman and Mills have contended that the contractarian approach legitimizes gender and racial inequalities by excluding and marginalizing women and people of color from the original agreement. Therefore, the social contract is incapable of generating or fostering equality. This study proposes postcontractarianism, which is a viable alternative to the social contract. Postcontractarianism argues that the basis for egalitarianism cannot be grounded on agreement but rather on understanding. Postcontractarianism draws on Jorge Nef’s idea of mutual vulnerability and Obiri (an African theory of cosmology) to argue for the imperative of social equality.

Keywords: postcontractarianism, obiri, mutual vulnerability, egalitarianism, the social contract

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Authors: Mhd. Zakiul Fikri, M. Agus Maulidi

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Indonesia is a constitutional state. As the constitutional state, Indonesia is not only using a single legal system, but also adopting three legal systems consist of: The European continental legal system or positive law of Indonesia, adat law system, and legal system of religion. This study will discuss Marosok tradition in the process of buying and selling cattle in Payakumbuh: a comparative study between adat law and positive law of Indonesia. The objectives of this research are: First, to find the meaning of the philosophical of Marosok tradition in Payakumbuh. Second, to find the legal implications of the Marosok tradition reviewed aspects of adat law and positive law of Indonesia. Third, to find legal procedure in arbitrating the dispute wich is potentially appear in the post-process of buying and selling cattle based on positive law and adat law adopted in Indonesia. This research is empirical legal research that using two model approaches which are statute approach and conceptual approach. Data was obtained through interviews, observations, and documents or books. Then a method of data analysis used is inductive analysis. Finally, this study found that: First, tradition of Marosok contains the meaning of harmonization of social life that keep people from negative debate, envy, and arrogant. Second, Marosok tradition is one of the adat law in Indonesia; it is one of contract law in the process of buying and selling. If the comparison between the practice Marosok tradition as adat law with the provisions of Article 1320 book of civil code about the terms of the validity of a contract, the elements contained in the provisions of these regulations are met in practice Marosok. Thus, the practice of Marosok in buying and selling cattle process in Payakumbuh justified in view of the positive law of Indonesia. Last of all, all kinds of disputes arising due to contracts made by Marosok tradition can be resolved by positive law and adat law of Indonesia.

Keywords: Adat law, contract, Indonesia, Marosok

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Authors: David Gibbs-Kneller

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Only parties to a contract can enforce it. This is the privity of the contract. Carriage contracts frequently involve intermediated relationships. While the carrier and cargo-owner will agree on a contract for carriage, there is no privity or consideration between the cargo-owner and third parties. To overcome this, the contract utilizes ‘bailment on terms’ or the rule in Morris. Morris v C W Martin & Sons Ltd is authority for the following: A sub-bailee and bailor may rely on terms of a bailment where the bailor has consented to sub-bailment “on terms”. Bailment on terms can play a significant part in making litigation decisions and determining liability. It is used in standard form contracts and courts have also strived to find consent to bailment on terms in agreements so as to avoid the consequences of privity of contract. However, what this paper exposes is the false legal basis for this model. Lord Denning gave an account adumbrated of the law of bailments to justify the rule in Morris. What Lord Denning was really doing was objecting to the doctrine of privity. To do so, he wrongly asserted there was a lacuna in law that meant third parties could not avail themselves upon terms of a contract. Next, he provided a false analogy between purely contractual rights and possessory liens. Finally, he gave accounts of authorities to say they supported the rule in Morris when they did not. Surprisingly, subsequent case law on the point has not properly engaged with this reasoning. The Pioneer Container held that since the rule in Morris lay in bailments, the decision is not dependent on the doctrine of privity. Yet the basis for this statement was Morris. Once these reasons have been discounted, all bailment on terms rests on is the claim that the law of bailments is an independent source of law. Bailment on terms should not be retained, for it is contrary to established principles in the law of property, tort, and contract. That undermines the certainty of those principles by risking their collapse because there is nothing that keeps bailment on terms within the confines of bailments only. As such, bailment on terms is not good law and should not be used in standard form contracts or by the courts as a means of determining liability. If bailment on terms is a pragmatic rule to retain, it is recommended that rules governing carriage contracts should be amended.

Keywords: bailment, carriage of goods, contract law, privity

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Authors: Erekle Magradze, Davit Soselia, Levan Shughliashvili, Irakli Koberidze, Shota Tsiskaridze, Victor Kakhniashvili, Tamar Chaghiashvili

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Since the beginning of active publishing activity in Georgia, voluminous printed material has been accumulated, the digitization of which is an important task. Digitized materials will be available to the audience, and it will be possible to find text in them and conduct various factual research. Digitizing scanned documents means scanning documents, extracting text from the scanned documents, and processing the text into a corresponding language model to detect inaccuracies and grammatical errors. Implementing these stages requires a unified, scalable, and automated platform, where the digital service developed for each stage will perform the task assigned to it; at the same time, it will be possible to develop these services dynamically so that there is no interruption in the work of the platform.

Keywords: NLP, OCR, BERT, Kubernetes, transformers

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Authors: Marwa Zein

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The long-term of the contract is one of the major features that distinguish international trade and investment contracts from other internal contracts. This is due to the nature of the contract and the huge works required to be performed from one hand or the desire of the parties to achieve stability in their transactions. However, long-term contracts might expose them to certain events and circumstances that impact the capability of the parties to execute their obligations pursuant to these contracts. During the year 2016, the Egyptian government has taken series of economic decisions which greatly impacted the economic and investment environment. Consequently, many contracts have encountered many problems in their execution due to such changes that greatly influence the performance of their obligation, a matter that necessitated the renegotiation of the conditions of these contracts on the basis of the unpredicted changes that could be listed under the Force Majeure Clause. The principle of fair and equitable treatment in investment placed on an obligation on the Egyptian government to consider the renegotiation of contract clauses based on the new conditions. This paper will discuss the idea of renegotiating international trade and investment contracts in Egypt with reference to the changes the economic environment has witnessed lately.

Keywords: change of circumstances, international contracts, investment contracts, renegotiation

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Authors: Alireza Naserpoor

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Derivatives are the most important innovation which has happened in the past decades. When it comes to financial markets, it has changed the whole way of operations of stock, commodities and currency market. Beside a lot of advantages, Conventional derivatives contracts have some disadvantages too. Some problems have been caused by derivatives contain raising Volatility, increasing Bankruptcies and causing financial crises. Standard Parallel Salam contract as an Islamic financial product meanwhile is a financing instrument can be used for risk management by investors. Standard Parallel Salam is a Shari’ah-Compliant contract. Furthermore, it is an alternative to conventional derivatives. Despite the fact that the unstructured types of that, has been used in several Islamic countries, This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. In this paper after introducing parallel Salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel Salam contract and proceed to describe standard scenarios for trading this instrument and practical experience in Iran Mercantile Exchange about this instrument. Afterwards, we make a comparison between SPS and Futures contracts as a conventional derivative. Standard parallel salam contract as an Islamic financial product, can be used for risk management by investors. SPS is a Shariah-Compliant contract. Furthermore it is an alternative to conventional derivatives. This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. despite the fact that the unstructured types of that, has been used in several Islamic countries. In this article after introducing parallel salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel salam contract and proceed to describe standard scenarios for trading this instrument containing two main approaches in SPS using, And practical experience in IME about this instrument Afterwards, a comparison between SPS and Futures contracts as a conventional derivatives.

Keywords: futures contracts, hedging, shari’ah compliant instruments, standard parallel salam

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Authors: Seung Yeon Son

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Workers (especially, competent personnel) have been recognized as a core contributor to overall organizational effectiveness. Hence, verifying the determinants of turnover intention is one of the most important research issues. This study tested the influence of perceived organizational support and abusive supervision on employee’s turnover intention. In addition, mediating roles of psychological contract and emotional exhaustion were examined. Data from 255 Korean employees supported all hypotheses Implications for research and directions for future research are discussed.

Keywords: abusive supervision, emotional exhaustion, perceived organizational support, psychological contract, turnover intention

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Authors: K. P. Sandesh, M. H. Suman

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Text processing plays an important role in information retrieval, data-mining, and web search. Measuring the similarity between the documents is an important operation in the text processing field. In this project, a new similarity measure is proposed. To compute the similarity between two documents with respect to a feature the proposed measure takes the following three cases into account: (1) The feature appears in both documents; (2) The feature appears in only one document and; (3) The feature appears in none of the documents. The proposed measure is extended to gauge the similarity between two sets of documents. The effectiveness of our measure is evaluated on several real-world data sets for text classification and clustering problems, especially in banking and health sectors. The results show that the performance obtained by the proposed measure is better than that achieved by the other measures.

Keywords: document classification, document clustering, entropy, accuracy, classifiers, clustering algorithms

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Authors: R. Babi Saraswathi, K. Divya, A. Habeebur Rahman, D. B. Hari Prakash, S. Jayanth, T. Kumar, N. Vijayarangan

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Document automation is the design of systems and workflows, assembling repetitive documents to meet the specific business needs. In any organization or institution, documenting employee’s information is very important for both employees as well as management. It shows an individual’s progress to the management. Many documents of the employee are in the form of papers, so it is very difficult to arrange and for future reference we need to spend more time in getting the exact document. Also, it is very tedious to generate reports according to our needs. The process gets even more difficult on getting approvals and hence lacks its security aspects. This project overcomes the above-stated issues. By storing the details in the database and maintaining the e-documents, the automation system reduces the manual work to a large extent. Then the approval process of some important documents can be done in a much-secured manner by using Digital Signature and encryption techniques. Details are maintained in the database and e-documents are stored in specific folders and generation of various kinds of reports is possible. Moreover, an efficient search method is implemented is used in the database. Automation supporting document maintenance in many aspects is useful for minimize data entry, reduce the time spent on proof-reading, avoids duplication, and reduce the risks associated with the manual error, etc.

Keywords: e-documents, automation, digital signature, encryption

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Authors: Jingya You, Yongqiang Chen, Yuanyuan Hua, Wenqian Wang

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Conflict is commonplace in construction projects, and construction projects always involve designing contracts between the owner and the contractor. However, how the contract affects the level of conflict between the owner and the contractor has not been elaborated. The purpose of this paper is to explain the effects of contractual complexity on the level of conflict, including task conflict and relationship conflict, and then to demonstrate the moderating role played by the interdependence between the owner and the contractor. Using data from owners and general contractors in the Chinese construction industry, this research reveals that contractual control will reduce relationship conflict. Contractual coordination will also reduce relationship conflict by the mediating effect of task conflict. Besides, under high joint interdependence, the positive relationship between task conflict and relationship conflict is strengthened, while high interdependence asymmetry has effects on weakening the relationship between task conflict and relationship conflict. The findings provide guidance for contract designers to draft suitable contracts in order to effectively deal with conflict. Additionally, this research implies that project managers should highlight the importance of contract in conflict management.

Keywords: construction projects, contract governance, interdependence, relationship conflict, task conflict

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Authors: Mengxia Jin, Yongqiang Chen, Wenqian Wang, Yu Wang

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The complexity and specificity of construction projects have made common opportunism phenomenon, and contractual governance for opportunism has been a topic of considerable ongoing research. Based on TCE, the research distinguishes control and coordination as different functions of the contract to investigate their complexity separately. And in a nuanced way, the dimensionality of contractual control is examined. Through the analysis of motivation and capability of strong or weak form opportunism, the framework focuses on the relationship between the complexity of above contractual dimensions and different types of opportunistic behavior and attempts to verify the possible explanatory mechanism. The explanatory power of the research model is evaluated in the light of empirical evidence from questionnaires. We collect data from Chinese companies in the construction industry, and the data collection is still in progress. The findings will speak to the debate surrounding the effects of contract complexity on opportunistic behavior. This nuanced research will derive implications for research on the role of contractual mechanisms in dealing with inter-organizational opportunism and offer suggestions for curbing contract parties’ opportunistic behavior in construction projects.

Keywords: contractual complexity, contractual control, contractual coordinatio, opportunistic behavior

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Authors: Deviana Yuanitasari

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The rapid development of world commerce and trade nowadays has created fast-paced demand in every business activities and transactions. That also includes the need for ready to use and practical form of standard contract. For the company or business owner, the use of standard contract is an alternative way to achieve economic goals faster, effectively and efficiently. In the other hand, for the consumer the practice of using standard contract usually unfavorable, because the contract clauses usually have been defined by the company and cannot be individually negotiated. That means consumer cannot influence the substances of the contract clauses. The purpose of this study is to get deeper understanding and analyze the role of Consumer Dispute Settlement Body in the monitoring of standard clause inclusion by businesses and industries within the context of practicing consumer protection law. Furthermore, this study will focus on the procedure of sanction and the effectiveness of the sanction for the business practitioners which disregard the inclusion of the prohibited standard clause. Therefore, this study will depict the law issues and other phenomenon that related with the role of Consumer Dispute Settlement Body in monitoring the inclusion of standard clause and procedure of sanction for the business practitioners that still use exemption clause within Consumer Protection Law System. This study results that BPSK has been assigned to monitor the inclusion of standard clause and settle consumer dispute. At this stage, BPSK role is passive, which means BPSK only takes an action if there are consumer complaints. The procedure of sanction is not part of BPSK tasks, since should there be a violation of standard clause; BPSK can only ask the business practitioners to remove the prohibited clause and not give a sanction. As a result, the procedure of sanction rule for the Standard Clause violation in this context can be considered as ineffective.

Keywords: standard contract, standard clause, consumer protection law, consumer dispute settlement body

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Authors: Fuqiang Wang, Jun Liu, Liyan Cai

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This paper investigates the coordination of the conflicting two-stage low carbon supply chain consisting of upstream and downstream manufacturers. The conflict means that the upstream manufacturer takes action for carbon emissions reduction under carbon trading mechanism while the downstream manufacturer’s production cost rises. It assumes for the Stackelberg game that the upstream manufacturer plays as a leader and the downstream manufacturer does as a follower. Four kinds of the situation of decentralized decision making, centralized decision-making, the production cost sharing contract and the carbon emissions reduction revenue sharing contract under decentralized decision making are considered. The backward induction approach is adopted to solve the game. The results show that the more intense the conflict is, the lower the efficiency of carbon emissions reduction and the higher the retail price is. The optimal investment of the decentralized supply chain under the two contracts is unchanged and still lower than that of the centralized supply chain. Both the production cost sharing contract and the carbon emissions reduction revenue sharing contract cannot coordinate the supply chain, because that the sharing cost or carbon emissions reduction sharing revenue will transfer through the wholesale price mechanism. As a result, it requires more complicated contract forms to coordinate such a supply chain.

Keywords: cap-and-trade mechanism, carbon emissions reduction, conflict, supply chain coordination

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Authors: Muhammad Shafiq, Huynh Trung Luong

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In this paper, we proposed a commitment based revenue sharing contract for a supply chain comprising one manufacturer and one retailer facing highly uncertain demand of a short life span fashionable product. In our model, the retailer reserves a commitment level with the manufacturer prior to the selling season. In response, the manufacturer allocates and produces a specific quantity which is the maximum available quantity for the retailer. The retailer is motivated to commit more by offering higher revenue sharing percentage for reserved capacity than non-reserved capacity. Due to asymmetric information, it is found that the manufacturer can optimize quantity allocation decision while the commitment level decision of the retailer may not be optimal.

Keywords: supply chain coordination, revenue sharing contract, commitment based revenue sharing, quantity allocation

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Authors: Şakir Bingöl, Abdullah Emre Aydemir, Abdullah Saado, Ahmet Akıl, Elif Canbaz, Feyza Nur Bulgurcu, Gizem Uzun, Günsu Bilge Dal, Muhammedcan Pirinççi

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Smart contracts, which can be applied in many different areas, from financial applications to the internet of things, come to the fore with their security, low cost, and self-executing features. In this paper, it is focused on peer-to-peer (P2P) energy trading and the implementation of the smart contract on the Ethereum blockchain. It is assumed a microgrid consists of consumers and prosumers that can produce solar and wind energy. The proposed architecture is a system where the prosumer makes the purchase or sale request in the smart contract and the maximum price obtained through the distribution system operator (DSO) by forecasting. It is aimed to forecast the hourly maximum unit price of energy by using deep learning instead of a fixed pricing. In this way, it will make the system more reliable as there will be more dynamic and accurate pricing. For this purpose, Istanbul's energy generation, energy consumption and market clearing price data were used. The consistency of the available data and forecasting results is observed and discussed with graphs.

Keywords: energy trading smart contract, deep learning, microgrid, forecasting, Ethereum, peer to peer

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Authors: Aicha Aggoune, Abdelkrim Bouramoul, Mohamed Khiereddine Kholladi

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Recent research shows that user profile as important element can improve heterogeneous information retrieval with its content. In this context, we present our indexing model for heterogeneous multimedia documents. This model is based on the combination of user profile to the indexing process. The general idea of our proposal is to operate the common concepts between the representation of a document and the definition of a user through his profile. These two elements will be added as additional indexing entities to enrich the heterogeneous corpus documents indexes. We have developed IRONTO domain ontology allowing annotation of documents. We will present also the developed tool validating the proposed model.

Keywords: indexing model, user profile, multimedia document, heterogeneous of sources, ontology

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Authors: Mercy Okezue, Kari Clase, Stephen Byrn, Paddy Shivanand

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Medicines regulatory authorities expect pharmaceutical companies and contract research organizations to seek ways to certify that their laboratory control measurements are reliable. Establishing and maintaining laboratory quality standards are essential in ensuring the accuracy of test results. ‘ISO/IEC 17025:2017’ and ‘WHO Good Practices for Pharmaceutical Quality Control Laboratories (GPPQCL)’ are two quality standards commonly employed in developing laboratory quality systems. A review was conducted on the two standards to elaborate on areas on convergence and divergence. The goal was to understand how differences in each standard's requirements may influence laboratories' choices as to which document is easier to adopt for quality systems. A qualitative review method compared similar items in the two standards while mapping out areas where there were specific differences in the requirements of the two documents. The review also provided a detailed description of the clauses and parts covering management and technical requirements in these laboratory standards. The review showed that both documents share requirements for over ten critical areas covering objectives, infrastructure, management systems, and laboratory processes. There were, however, differences in standard expectations where GPPQCL emphasizes system procedures for planning and future budgets that will ensure continuity. Conversely, ISO 17025 was more focused on the risk management approach to establish laboratory quality systems. Elements in the two documents form common standard requirements to assure the validity of laboratory test results that promote mutual recognition. The ISO standard currently has more global patronage than GPPQCL.

Keywords: ISO/IEC 17025:2017, laboratory standards, quality control, WHO GPPQCL

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Authors: Yuan Tian, Benhe Gao

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This paper aims to investigate a two stage supply chain of one leading supplier and one following retailer that experiences two factors perturbation out of supplier's production cost, retailer's marginal cost and retail price in stochastic demand environment. Granted that risk neutral condition has long been discussed, little attention has been given to disruptions under the premise of risk neutral supplier and risk aversion retailer. We establish the optimal order quantity and revealed the profit distribution coefficient in risk-neutral static model, make adjustment under disruption scenario, and then select utility function method for risk aversion model. Using buy-back contract policy, the improvement of parameters can achieve channel coordination where Pareto optimal is realized.

Keywords: supply chain coordination, disruption management, buy-back contract, lose aversion

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Authors: Reza Beheshti

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This paper examines remedies for defective manufactured goods in commercial circular economic transactions. The linear ‘take-make-dispose’ model fits well with the conventional remedial framework in which damages are considered the primary remedy. Damages under English Sales Law encourages buyers to look for a substitute seller with broadly similar goods to the ones agreed on in the original contract, enter into contract with this new seller and hence terminate the original contract. By doing so, the buyer ends the contractual relationship. This seems contrary to the core principles of the circular economy: keeping products, components, and materials in longer use, which can partly be achieved by product refurbishment. This process involves returning a product to good working condition by replacing or repairing major components that are faulty or close to failure and making ‘cosmetic’ changes to update the appearance of a product. This remedy has not been widely accepted or applied in commercial cases, which in turn flags up the secondary nature of performance-related remedies. This paper critically analyses the laws concerning the seller’s duty to cure in English law and the extent to which they correspond with core principles of the circular economy. In addition, this paper takes into account the potential of circular economic transactions being characterised as something other than sales. In such situations, the likely outcome will be a license to use products, which may limit the choice of remedy further. Consequently, this paper suggests an outline remedial framework specifically for commercial circular economic transactions in manufactured goods.

Keywords: circular economy, contract law, remedies, English Sales Law

Procedia PDF Downloads 112

Authors: Javid Zarei

Abstract:

International buyback contracts are a type of contract service. These kinds of contracts are the most important instrument for attracting foreign investors in accordance with Iran's laws. These contracts have been the basis of commercial and economic relations between Iran and foreign companies for about 30 years. The legal structure of this type of contract has gradually evolved, so today, an advanced generation of it under the title of Iran Petroleum Contract is being used in the industry of Iran. This article has analytically examined the issue of Iran's commercial contracts in the oil industry and contracting services and allocated sections to examine the strengths and weaknesses of these oil contracts. Also, this research is an attempt to examine and compare the Concession regime with the Buyback contracts, each of which is derived from the common law legal system and the Islamic legal system, respectively.

Keywords: buyback contracts, concession regime, ownership, common law legal system, Islamic legal system of Iran

Procedia PDF Downloads 49

Authors: Mahmoud Jumah

Abstract:

This paper presents the circumstances and decision making in case of change management in any industrial processes, and the effective strategic planning ensured to provide with the on time completion of projects. In this specific case, the Front End Engineering Design and the awarded Lump Sum Turn Key Contract had provided for full control and ownership of all Liquid Metering Skids by Controlling Team. The demarcation and location were changed, and the Ownership and Control of the Liquid Metering Skids inside the boundaries of the Asset Owner were transferred from Controlling Team to Asset Owner after the award of the LSTK Contract. The requested changes resulted in Adjustment Order and the relevant scope of work is an essential part of the original Contract. The majority of equipment and materials (i.e. liquid metering skids, valves, piping, etc.) has already been in process.

Keywords: critical path, project change management, stakeholders problem solving, strategic planning

Procedia PDF Downloads 241