the analyze of petroleum contracts demonstrate that in respect to the intensity of the cooperation between the state company and oil companies, we could find the different evaluative categories of the contracts on upstream oil industry.historically, the first generation of the petroleum contracts was the concession agreement in which the transferring of ownership was the base. the license agree...

time sharing contracts are a new type of contracts relating to immovable property created in response to modern life necessities. the main feature of this type of contract is that the ownership of property is transferred to the buyer for a limited period of the year. unlike traditional sale contracts in which the buyer acquires the complete and continuous ownership of the property purchased, in...

Abstract. We analyse contracts which pay out a guaranteed minimum rate of return and a fraction of a positive excess rate, which is specified on the basis of a benchmark portfolio. These contracts are closely related to unit–linked life–insurance/savings plan products and can be considered as alternatives to a direct investment in the underlying benchmark portfolio. The option embedded into the...

This is Part I of a sequence of two papers on Contract-Based Design (CBD). It is intended to: • Introduce the concepts underlying CBD; • Present the challenges facing facing designers of large-scale complex systems today; • Review the design methodologies so far used to address these challenges and show how contracts can be used in all these approaches to enhance their applicability and the qua...

There are many materials for which the quantity needed by a firm is at best indirectly related to the quantity of final product produced by that firm, such as solvents in manufacturing processes or office supplies. For any such “indirect” materials, an inescapable incentive conflict exists: The buyer wishes to minimize consumption of these indirect materials, while the supplier’s profits depend...

Limited observability is the assumption that economic agents can only observe a finite amount of information. Given this constraint, contracts among agents are necessarily finite and incomplete in comparison to the ideal complete contract that we model as infinite in detail. We consider the extent to which finite contracts can approximate the idealized complete contracts. The objectives of the ...

This article examines the development of profitor revenue-sharing contracts in the motion picture industry. Contrary to much popular belief, such contracts have been in use since the start of the studio era. However, early contracts differed from those seen today. The evolution of the current contract is traced, and evidence regarding the increased use of sharing contracts after 1948 is examine...

The payout and price of a rainfall-based index insurance contract are both functions of rainfall, which is a random process. In order to design and price these contracts, therefore, the buyers and the sellers of the contracts must both have a satisfactory understanding of the rainfall process, and must be able to communicate their beliefs to each other in order to negotiate the design and price...

We propose a simple event calculus representation of contracts and a reactive belief-desire-intention agent architecture to enable the monitoring and execution of contract terms and conditions. We use the event calculus to deduce current and past obligations, obligation fulfilment and violation. By associating meta-information with the contracts, the agent is able to select which of its contrac...