The loan CDS (LCDS) contract is almost identical to a standard unsecured CDS contract, except for two items. First, the reference obligation is different. Second, the LCDS contract is canceled if there is not a reference obligation available, where a CDS contract remains outstanding. This paper develops a general intensity based model for the pricing and trading of LCDS contract. Solutions can ...

The establishment of collaboration commitments, represented by contracts or agreements, is a crucial step in a virtual organization (VO) creation process. The contract negotiation shall proceed in parallel with the other phases of the VO creation process, namely preparatory planning, consortia formation, and VO launching. In each step specific elements for the contract / agreement are collected...

Contracts are a proven tool in software development. They provide specifications for operations that may be statically verified or dynamically validated by contract monitoring. Contract monitoring for lazy programming languages does not have a generally accepted basis. This paper discusses three approaches, eager, semi-eager, and lazy monitoring, all of which are flawed. The first two may chang...

Many popular methodologies are influenced by Design by Contract. They recommend to specify the intended behavior of operations in an early phase of the software development life cycle. Formal contract specification languages, however, are still rarely used because their semantics often mismatch the needs of software developers. Restrictive specification languages usually suffer from the ”frame ...

Specifying behavioral specifications for components apart from the conventional syntactic interface specifications can be very useful in component based system development. Preconditions and postconditions describe one form of behavioral aspects of components. We discuss a tool and an implementation mechanism to incorporate behavioral contracts expressed in terms of preconditions and postcondit...

Contract languages such as JML and Spec# specify invariants and preand postconditions using side-effect free expressions of the programming language, in particular, pure methods. For such contracts to be meaningful, they must be well-formed: First, they must respect the partiality of operations, for instance, the preconditions of pure methods used in the contract. Second, they must enable a con...

One of the principles of Design by Contract is that contracts for software components must be written in a declarative way, using a formal, mathematically founded notation. When we apply the Design by Contract methodology in a naive and straightforward way, we risk ending up with unwanted duplication. In this paper, we describe a methodology for writing class contracts that avoids specification...

Contract systems and hybrid type systems provide two alternative approaches for enforcing precisely-defined interface specifications, with complementary advantages: contract systems excel at blame assignment, whereas hybrid type systems support type-based static analysis. We unify these two approaches by demonstrating that hybrid type checking is sufficiently expressive to encode higher-order c...

GENERAL 1-1. Purpose. This manual is a guide and basic 1-4.1.2. Because of the difficulty in defining levels reference for facility engineers and other personnel of cleanliness, Governmental cleaning contract spe-engaged in the preparation of contract documents cifications have often been ambiguous. The am-and the administration of custodial services biguities have resulted in misunderstandings...

We investigate the implications of optimal portfolio choice on fair pricing of specific pension insurance contracts. We motivate that the manager of the insurance company should optimize utility of final payout for the policy holders. The payout to the policy holder is highly non-linear in wealth, implying that the optimization problem is non-trivial. Still, we find closed form solutions. Simul...