The allocation of risks among the contracting parties in a contract is an important decision affecting the project success. Some risks in a project are uncontrollable; these are imposed to a project by external factors. Since contracting parties can neither control nor affect the occurrence of such risks, their allocation to a party would be inequitable. Therefore the cost overrun related to un...

odels of bilateral contracting, such as the canonical holdup model, typically assume that third parties are not available. Given this assumption, the equilibrium outcome is not first-best efficient if contracts can be renegotiated. To be more specific, suppose an architect and a builder must cooperate to build a building. The quality of the building will depend on three things: the quality of t...

In business-to-business relations, contracts serve both as a protection mechanism of trading parties, as well as a prescription document for activities to be executed by them. The processes of contract establishment and its enactment are often expensive and time-consuming. E-contracting aims at improving the efficiency and effectiveness of the contracting process. Additionally, it offers new op...

deep economic and social developments in two recent centuries beside other important alterations, created important changes in contracting aria among them placing weak and strong parties against each other in contracts. freedom of contract, that before enjoided from some kind of sancity,could not provid contractual justice in this new conditions. therefore adjustment of this tool(contract) in a...

in articles of 196,768 and 769, the iranian civil code, under influence of the french law (art.1121 civ. code) and imamieh's jurisprudence, without any explanation to the legal nature of the contract for the benefit of third party, has briefly allowed the contracting parties to create an obligation for the benefit of third party. this brevity caused an ambiguity in explaining of the relati...

In numerous economic scenarios, contracting parties may not have a clear picture of all the relevant aspects. While confronted with these unawareness issues, the strategic decisions of the contracting parties critically depend on their sophistication. A contracting party may be unaware of what she is entitled to determine. Therefore, she can only infer some missing pieces via the contract offer...

All rights reserved. No part of this publication may be reproduced and/or published by print, photoprint, microfilm or any other means without the previous written consent of TNO. In cast this report was drafted on instructions, the rights and obligations of contracting parties are subject to either the Standard Conditions for Research Instructions gieven to TNO, or the relevant agreement concl...

The objective of this study is to investigate whether project complicatedness and the chances of recurring exchanges influence the adoption of relational transactions in public construction projects. A structured questionnaire was administrated in Singapore. The Partial Least SquareStructural Equation Modelling was used to analyze the data. The statistical results show that: (1) the level of pr...