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Book part
Publication date: 26 September 2024

Jakob B Sørensen

Usually, a construction contract ends because the Parties have performed all their obligations thereunder but sometimes the need to terminate the contract arises before this. This…

Abstract

Usually, a construction contract ends because the Parties have performed all their obligations thereunder but sometimes the need to terminate the contract arises before this. This need may have various reasons, e.g. one of the Parties goes into bankruptcy without the funds available for continuing the project, a substantial risk materialises to the detriment of the continuation of the project (e.g. substantial sub-surface issues, pollution etc.), other risks materialise, substantially increasing the cost of the project, or the Employer simply no longer has a need for the Works. The GC include provisions for the termination of the Contract before the Parties have fully performed all their obligations under the Contract; termination by the Employer is provided for in Clause 15 [Termination by Employer] and termination by the Contractor in Clause 16 [Suspension and Termination by Contractor]. Termination is an extreme remedy, regardless of who terminates the Contract. In all but a very few projects, a termination will cause both Parties to suffer substantial loss; not all such losses are recoverable from the defaulting Party. Thus, termination is a remedy that should be reserved for extreme cases. In addition, the right to terminate depends on an interpretation of the Contract provisions and the application of these provisions to the situation at hand, including whether a specific default is sufficiently severe to entitle the other Party to terminate. Because the consequences of a termination are serious, the applicable Laws usually require a serious (substantial) default before a Contract may be terminated. Furthermore, the procedures prescribed in the GC must be followed because a failure to comply with the relevant procedure may render a termination ineffective or invalid.

Details

FIDIC Yellow Book: A Companion to the 2017 Plant and Design-Build Contract, Revised Edition
Type: Book
ISBN: 978-1-83608-164-7

Keywords

Article
Publication date: 30 May 2024

Tianhao Wen and Hong-Youl Ha

Vertical business-to-business (B2B) relationship models are dynamic and depend on economic and relational constructs. However, it remains unclear how relationship termination…

Abstract

Purpose

Vertical business-to-business (B2B) relationship models are dynamic and depend on economic and relational constructs. However, it remains unclear how relationship termination intentions evolve across the mature and final stages of the B2B relationship cycle, particularly in the hospitality sector. Thus, this study investigates the dynamics of B2B relationship termination mechanisms.

Design/methodology/approach

The authors use a two time-lag interval method to provide insights into how these two variables (relational satisfaction and partner trust) mediate (e.g. strengthen or weaken) the relationship between social dependence and relationship termination intentions over time.

Findings

The authors demonstrate that relational satisfaction is not directly linked to relationship termination intentions across B2B relationship stages. However, our findings show that social dependence and partner trust are both key determinants of relationship termination intentions over time. Based on the mature and final stages of a B2B relationship cycle, these results suggest that researchers must understand the theoretical mechanism of B2B relationships and the roles key constructs play in determining how these relationships conclude.

Originality/value

This study is novel in capturing the evolution of B2B relationship stages. This research presents the first collection of ample evidence on the manifestation of relationship termination in the transition from social dependence to reduced partner trust.

Details

Journal of Research in Interactive Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-7122

Keywords

Book part
Publication date: 26 September 2024

Jakob B Sørensen

Usually, a construction contract ends because the Parties have performed all their obligations thereunder but sometimes the need to terminate the contract arises before this. This…

Abstract

Usually, a construction contract ends because the Parties have performed all their obligations thereunder but sometimes the need to terminate the contract arises before this. This need may have various reasons, e.g. one of the Parties goes into bankruptcy without the funds available for continuing the project, a substantial risk materialises to the detriment of the continuation of the project (e.g. substantial sub-surface issues, pollution etc.), other risks materialise, substantially increasing the cost of the project, or the Employer simply no longer has a need for the Works. The GC include provisions for the termination of the Contract before the Parties have fully performed all their obligations under the Contract; termination by the Employer is provided for in Clause 15 [Termination by Employer] and termination by the Contractor in Clause 16 [Suspension and Termination by Contractor]. Termination is an extreme remedy for the Contractor as well as the Employer; Sub-Clause 16.1 [Suspension by Contractor] provides a less extreme remedy for the Contractor where they may suspend or reduce their performance of the work as an interim remedy against the Employer’s default. As for the Employer’s exercise of the remedies under Clause 15 [Termination by Employer], it is also recommendable for the Contractor to adhere diligently to the formal requirements of Clause 16 [Suspension and Termination by Contractor] and to seek relevant expert advice prior to suspending work or reducing the rate of progress or initiate termination procedures. See also the general introduction to termination under Clause 15.

Details

FIDIC Yellow Book: A Companion to the 2017 Plant and Design-Build Contract, Revised Edition
Type: Book
ISBN: 978-1-83608-164-7

Keywords

Article
Publication date: 19 July 2024

Zhengyi Zhou

This paper studies the determinants for the desirability of the public-private partnership (PPP) mode in infrastructure development.

Abstract

Purpose

This paper studies the determinants for the desirability of the public-private partnership (PPP) mode in infrastructure development.

Design/methodology/approach

The author manually collects data on over 12,000 PPP projects in China, and regard the successful transition and abnormal termination as signals for the mode’s desirability and undesirability, respectively. Then, guided by relevant theories in the literature, the author investigates the impact of various project characteristics on the projects’ successful transition and abnormal termination.

Findings

First, execution-stage projects in industries where government support is indispensable, or where quality improvement is more important than cost reduction, face higher likelihood of abnormal termination. But such negative effects are mitigated if state-owned enterprises (SOEs) participate in the social party. Second, the structure of social party matters. The participation by private firms in the social party increases the termination likelihood, while the decentralization of the social party decreases it. Third, pre-execution projects with government payment or subsidies are more likely to enter into the execution stage.

Practical implications

Regulations on participation by SOEs in PPPs, such as policy [2023 No. 115] announced by State Council, should take industrial heterogeneity into consideration.

Originality/value

Using a large sample, the author empirically tests the seminal PPP-related theories in the literature. The author also uncovers some unique stylized facts about PPPs in China, especially the impact of SOE participation in the social party on PPP survival.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

Open Access
Article
Publication date: 22 April 2024

Sami Barmada, Nunzia Fontana, Leonardo Sandrolini and Mattia Simonazzi

The purpose of this paper is to gain a better understanding on how metasurfaces behave, in terms of currents in each unit cell. A better knowledge of their behavior could lead to…

216

Abstract

Purpose

The purpose of this paper is to gain a better understanding on how metasurfaces behave, in terms of currents in each unit cell. A better knowledge of their behavior could lead to an ad-hoc design for specific applications.

Design/methodology/approach

The methodology used is both theoretical and numerical; it is based on circuit theory and on an optimization procedure.

Findings

The results show that when the knowledge of the current in each unit cell of a metasurface is needed, the most common approximations currently used are often not accurate. Furthermore, a procedure for the termination of a metasurface, with application-driven goals, is given.

Originality/value

This paper investigates the distribution of the currents in a 2D metamaterial realized with magnetically coupled resonant coils. Different models for the analysis of these structures are illustrated, and the effects of the approximations they introduce on the current values are shown and discussed. Furthermore, proper terminations of the resonators on the boundaries have been investigated by implementing a numerical optimization procedure with the purpose of achieving a uniform distribution of the resonator currents. The results show that the behavior of a metasurface (in terms of currents in each single resonator) depends on different properties; as a consequence, their design is not a trivial task and is dependent on the specific applications they are designed for. A design strategy, with lumped impedance termination, is here proposed.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering , vol. 43 no. 3
Type: Research Article
ISSN: 0332-1649

Keywords

Article
Publication date: 5 July 2024

Ahmed M. Khawaldeh

This paper aims to know the legal nature of the court’s discretionary power in business contract revocation.

Abstract

Purpose

This paper aims to know the legal nature of the court’s discretionary power in business contract revocation.

Design/methodology/approach

Following the normative method that analyzes legislation using secondary data consisting of primary, secondary and tertiary legal materials, this research was conducted during the period November, 2023 – February, 2024. Moreover, studies that addressed the legal nature of the court’s discretionary power in business contract revocation and published since 2000 were included. The focus was made upon the business contract’s retroactive effect in relation to the Court’s discretionary power.

Findings

From the initial 312 studies reviewed, 20 met the inclusion criteria. The business contract's retroactive effect in relation to the Court’s discretionary power has been considered by the relatively small number of studies included in the review. Researchers from different countries explored the phenomenon, using different approaches to explore the topic. However, none of these researchers has examined the phenomenon in the Jordanian Context.

Research limitations/implications

This research is unique, as it examines the legal nature of the court’s discretionary power in business contract revocation, which has not been investigated in the Jordanian context. The previous researches on business contract revocation have addressed laws other than the Jordanian law.

Practical implications

This research will be a guide for the Jordanian legislation to draft a business contract law that regulates the court's interference in cases of business contract revocation and clearly specify its role in this regard.

Social implications

This research will increase the Jordanian people's awareness of the legal nature of court in cases of business contract revocation. Moreover, it will make them familiar with the current laws so that they will legally deal with cases of this kind.

Originality/value

It is very important to conduct this research to review the papers and laws related to business contract revocation in Jordan since this issue has not been investigated.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 15 April 2024

Rilwan Kayode Apalowo, Mohamad Aizat Abas, Zuraihana Bachok, Mohamad Fikri Mohd Sharif, Fakhrozi Che Ani, Mohamad Riduwan Ramli and Muhamed Abdul Fatah bin Muhamed Mukhtar

This study aims to investigate the possible defects and their root causes in a soft-termination multilayered ceramic capacitor (MLCC) when subjected to a thermal reflow process.

Abstract

Purpose

This study aims to investigate the possible defects and their root causes in a soft-termination multilayered ceramic capacitor (MLCC) when subjected to a thermal reflow process.

Design/methodology/approach

Specimens of the capacitor assembly were subjected to JEDEC level 1 preconditioning (85 °C/85%RH/168 h) with 5× reflow at 270°C peak temperature. Then, they were inspected using a 2 µm scanning electron microscope to investigate the evidence of defects. The reliability test was also numerically simulated and analyzed using the extended finite element method implemented in ABAQUS.

Findings

Excellent agreements were observed between the SEM inspections and the simulation results. The findings showed evidence of discontinuities along the Cu and the Cu-epoxy layers and interfacial delamination crack at the Cu/Cu-epoxy interface. The possible root causes are thermal mismatch between the Cu and Cu-epoxy layers, moisture contamination and weak Cu/Cu-epoxy interface. The maximum crack length observed in the experimentally reflowed capacitor was measured as 75 µm, a 2.59% difference compared to the numerical prediction of 77.2 µm.

Practical implications

This work's contribution is expected to reduce the additional manufacturing cost and lead time in investigating reliability issues in MLCCs.

Originality/value

Despite the significant number of works on the reliability assessment of surface mount capacitors, work on crack growth in soft-termination MLCC is limited. Also, the combined experimental and numerical investigation of reflow-induced reliability issues in soft-termination MLCC is limited. These cited gaps are the novelties of this study.

Details

Microelectronics International, vol. 41 no. 3
Type: Research Article
ISSN: 1356-5362

Keywords

Book part
Publication date: 26 September 2024

Jakob B Sørensen

Clause 1 [General Provisions] contains the provisions that in many contracts are bundled together under the ‘miscellaneous’ or ‘other provisions’ heading and includes a list of…

Abstract

Clause 1 [General Provisions] contains the provisions that in many contracts are bundled together under the ‘miscellaneous’ or ‘other provisions’ heading and includes a list of definitions, some interpretation principles, rules on communication between the Parties, documents forming the Contract, assignment, confidentiality etc. But Clause 1 also contains other provisions, like the Employer's right to use documentation and other deliverables provided by the Contractor (in other contracts usually referred to as a license to use), and a substantive Sub-Clause on limitation of liability.

Details

FIDIC Yellow Book: A Companion to the 2017 Plant and Design-Build Contract, Revised Edition
Type: Book
ISBN: 978-1-83608-164-7

Keywords

Article
Publication date: 1 August 2024

Alvaro Remesal

Clawback provisions entitle shareholders to recover previously awarded incentive compensation after the discovery of accounting manipulation or misconduct. The author evaluates…

Abstract

Purpose

Clawback provisions entitle shareholders to recover previously awarded incentive compensation after the discovery of accounting manipulation or misconduct. The author evaluates the impact of clawback enforcement heterogeneity on the horizon of executive compensation.

Design/methodology/approach

The author provides empirical tests to evaluate the impact of clawback adoption decisions. The author deals with the endogeneity of clawback adoption decisions through an instrumental variables strategy that exploits the transmission of governance choices within firms’ networks.

Findings

While the author finds that clawback adoption reduces the frequency of accounting manipulation, this reduction is accompanied by heterogeneous effects on the horizon of executive pay across firms. Clawback adopters with high director independence, high leverage, high managerial termination payments and low executive ownership tilt their compensation toward the short-term.

Practical implications

The results, robust to alternative specifications, suggest that clawbacks allow strong-enforcement firms to tilt compensation toward the short-term, offsetting some of the direct manipulation disincentives generated by the clawback. The stock market reacts positively to the adoption in firms with weak enforcement, suggesting that clawbacks significantly reduce the managers’ rent-extraction capacity.

Originality/value

Using a novel empirical and identification approach, the results suggest that clawbacks allow strong-enforcement firms to tilt compensation toward the short-term, offsetting some of the direct manipulation disincentives generated by the clawback.

Details

International Journal of Accounting & Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1834-7649

Keywords

Content available
Book part
Publication date: 26 September 2024

Jakob B Sørensen

Abstract

Details

FIDIC Yellow Book: A Companion to the 2017 Plant and Design-Build Contract, Revised Edition
Type: Book
ISBN: 978-1-83608-164-7

1 – 10 of 448