| Title |
A Study on Improvements of Regulation for the Preventing Commercial Disputes Related to Adjustment of Subcontract Price |
| Authors |
Min, Byeong-Uk ; Lee, Jong-Gwang ; Kim, Yong-Su |
| Keywords |
Contract dispute ; Adjustment of contract price ; subcontract |
| Abstract |
The purpose of this study is to examine the problems of the regulations regarding the modification of subcontract price. It also suggests several measures to improve the regulations related to the subcontract price adjustment, which help to reduce unnecessary claims and commercial disputes. The literature research, structure and context analysis on the subcontract regulation and survey are adopted as basic research methods. The primary findings of this study are summarized as the following:
(1) A provision outlining necessary procedures that an owner and a contractor should notify a subcontractor the adjustment of contract price needs to be made. (2) A provision allowing procedures that subcontractor could make the alteration of subcontract agreement and adjustment of subcontract price needs to be made. (3) The terminology like a unit cost and the rate of contract price needs to be clearly defined in order to improve the criterions of the subcontract price adjustment. (4) The criterions and additional expenses that the contractors are responsible for need to be defined. |