Commercial Transactions Research Articles

Data Reconciliation for Assessing Compliance of Physicochemical Properties of Petroleum Products in Commercial Transactions

The physicochemical properties of petroleum products in commercial transactions are crucial for quality control in the oil and gas industry. However, different laboratories often produce slightly different measurement results. These variations can be significant when approving or rejecting properties based on regulatory agency and environmental body specifications. A simple arithmetic average is typically used to determine the most probable value in disputes. This study proposed using a Data Reconciliation approach to address the disparity between the projected model and empirical data. An objective function was employed to optimize and evaluate parameters using maximum likelihood estimation, considering the experimental uncertainty values. This study found that the flash point of jet fuel, as determined by the Tag Closed Cup Tester, was within the specified range (maximum of 40 °C). The application of this tool resolved a dispute between a supplier and a customer, as the reconciled value with minimized uncertainty was determined to be 37.5 ± 2.0 °C. Additionally, the study utilized experimental results from 12 accredited laboratories to determine a single reconciled value for the final boiling point of gasoline. Despite the varying experimental uncertainties ranging from 6.0 °C to 13 °C, the reconciled uncertainty was minimized to 2.6 °C. The last case study identified that ASTM D4294 was incompatible with other test methods for evaluating the mass fraction in diesel oil. In this manner, Data Reconciliation enhanced the accuracy and effectively reduced measurement uncertainties, rendering it a potent tool for resolving legal disputes when evaluating the compliance of the physicochemical properties of petroleum products in commercial transactions.

Digital Economy and Platform Economy Governance: A Study of Challenges and Countermeasures in Public Policies - Based on the Perspectives of China and EU

Abstract: Platform economy has become an important force in promoting the high-quality development of China's economy. Commercial transaction, financial intermediation, sharing economy and entertainment all depend on the development of the platform economy. This article provides an in-depth discussion on the governance of the digital economy and the platform economy, aiming to provide guidance for current and future policymaking by analyzing the main challenges faced by the two countries (China and Europe) in policymaking and proposing practical responses. At the same time, this article will outline the basic concepts, main features and far-reaching impacts of digital economy and platform economy on the global economy, and combs through their development history and key features. By comparing the differences between China and Europe in the governance of digital economy and platform economy, it adopts SWOT analysis to systematically assess the countermeasures taken by the two countries in addressing the governance challenges and their effectiveness.

Importance of English in Commerce from International Perspective

English is a widely spoken language, which is used in day-to-day transactions in international sphere. Without English international communication can’t happen smoothly and there lies the importance of English. Present research paper will try to understand the importance of English in commerce from international perspective and the solution over the problem where still the knowledge of English is not provided and thereby commercially those people are backward due to barrier of language. Commerce is a very important sector, which deals with monetary transactions, sales and marketing, portfolio investments and all banking transactions. When you think about International Commerce you see the communication is purely business but it involves English extensively. In international transactions English is a barrier to those who don’t know the language and for the people who are fluent in English, for them it is like their mother tongue. English and Commerce are two different sectors, but in international sphere they are interdependent. Mere commercial transactions won’t run successfully if you can’t communicate in English. So, it’s very important that the people who are involved in Commerce sector should have sound knowledge of English and they should fluently able to communicate in English. In this research paper, we will find the difficulties faced by the people involved in commerce sector while dealing with English and will try to find out the solution over this.

Legal Analysis of Catfishing in Telematic Commerce Transactions in Ecuador: Challenges and Solutions in the Context of Cybersecurity

En los últimos años Ecuador experimentó un crecimiento económico impulsado por la expansión de la conectividad a internet, el uso masivo de dispositivos móviles, la transformación digital y el impacto tecnológico de la pandemia por Covid-19. Este avance provocó un incremento en el número de tiendas virtuales, ofreciendo una amplia variedad de productos y servicios en la web, fortaleciendo la confianza de los consumidores en las compras en línea. Este progreso digital, también ha dado paso a nuevos tipos de delitos cibernéticos como el “Catfishing”, término que hace referencia a la suplantación de identidades en los procesos del comercio telemático. En esta investigación se realiza un análisis sobre el Catfishing en transacciones de comercio telemático en Ecuador, abordando detalladamente los desafíos y soluciones para reforzar la seguridad cibernética en este campo con miras en difundir sus efectos a la comunidad ecuatoriana sobre estos actos delictivos emergentes. El Catfishing constituye una práctica que implica suplantar identidades en línea con el fin de engañar a las personas y obtener ganancias económicas, este delito cibernético se convierte en una problemática real para la libre oferta-demanda que exige la comunidad globalizada. Por ello se resalta la importancia de comprender este fenómeno y concientizar los riesgos y consecuencias de estos ciberataques, para ello se estudiará el Catfishing y su impacto en el comercio telemático ecuatoriano a través del análisis de su normativa legal, con el fin de brindar una visión integral y critica sobre esta problemática

تسوية المنازعات في القانون التجاري - على ضوء القانون رقم 95.17

Mechanisms for settling commercial disputes have become one of the manifestations of legal and economic thinking at world level, a desired tool for regulating and stimulating national and international trade, and an important and essential factor in increasing the flow of investment and alleviating the burden on the national judicial system, prompting the various countries - at the highest level - to attach great interest to this peaceful means. In this respect, the high speech of His Majesty King Mohammed VI on the occasion of the opening of the judicial year on 29 January 2003 in Agadir affirmed the following: ‘.... Thus, in accordance with Our firm desire to continue working to promote investment and in application of Our directives set out in the letter We sent to Our Prime Minister to this effect, we invite Our Government to continue its efforts to modernise the justice system, by rationalising work, simplifying procedures and ensuring the widespread use of information technology. It is also necessary to diversify the procedures for the consensual settlement of disputes that arise between partners in commercial transactions, by proceeding, with all due speed, to draw up a draft law on national and international commercial arbitration, which will enable our judicial system to meet the requirements of globalisation and economic competitiveness, and to help attract foreign investment’. In his speech on the occasion of the anniversary of the Revolution of the King and the People on 20 August 2009 in Tétouan, His Majesty added that: ‘...At the same time, alternative dispute resolution methods such as mediation, arbitration and conciliation should be developed, alternative sentences should be applied and local justice should be reviewed....’. Then the speech of 14 October 2022, which stated: ‘Today, we are banking on productive investment as an essential lever for reviving the national economy and anchoring Morocco in promising sectors’.

Current legal activities come to the complexity of the term "electronic commerce": international and national level

The article provides a comprehensive study of various approaches to defining the term «electronic commerce» in the context of modern legal, economic and technological challenges. The analysis begins with an overview of scholarly perspectives on e-commerce, which range from narrow interpretations that focus on basic online sales contracts to broader concepts that encompass all aspects of electronic interaction between business entities, including logistics, marketing, financial operations and international transactions. The term «e-commerce» is clearly distinguished from related concepts, such as «e-commerce», «e-business», which mostly focuses on the sale of goods and services. The article also explores the positive aspects of e-commerce, such as increasing the efficiency of business processes, reducing transaction costs, access to global markets, increased convenience for consumers, etc. At the same time, a number of negatives have been identified, including the risk of personal data theft, payment fraud, and other types of cybercrime. The normative regulation of electronic commerce at the level of international law and in Ukraine is separately analyzed. The main legislative acts and their impact on the development of e-commerce are highlighted. On the basis of the conducted research, three key criteria for a clear definition of e-commerce are formulated, including legal relations arising through electronic means, interaction of entities through the Internet, and multi-level business processes, namely: basic e-commerce, integrated e-commerce and global e-commerce. As a result, a proper understanding of e-commerce as a form of business activity is proposed, which involves the implementation of commercial transactions using information and telecommunication means, covering a wide range of processes, including the conclusion and execution of contracts for the sale of goods and services, payment processing, logistics, marketing and advertising , as well as management of currency and customs operations during international transactions, which allows to increase business efficiency and reduce costs due to process automation, optimization of resource management, rapid exchange of information, reduction of transaction costs and simplification of communication between market participants.

The Risks of Electronic Piracy and its Impact on Arabic E-Commerce: Saudi Arabia as a Model

The objective of this research is to examine the legal consequences arising from attacks on electronic commerce and the associated risks. Currently, online trade is considered a fundamental pillar for major corporations, yet instances of electronic fraud and cyber piracy frequently occur during commercial transactions, particularly since e-commerce transcends geographical boundaries, making it vulnerable to cross-border cybercrimes. The researcher employed the descriptive-analytical method with a focus on legislation in the Kingdom of Saudi Arabia. The findings revealed that cyber piracy results in substantial losses for e-commerce at both the Arab and global levels, as evidenced by the cybersecurity index. The study concluded with the recommendation that Saudi Arabia should establish a specialized policy to combat cybercrimes associated with e-commerce by enforcing criminal sanctions, bolstering support for local institutions and investment bodies operating within its borders, and implementing measures and technologies to ensure the security of electronic commercial activities.

The Positive and Negative Effects of Sustainability on Real Estate Transaction Prices

In last decades, there is a trend to renew buildings and make them more sustainable. Studies have shown that energy measures (as an aspect of sustainability) often increase the value of real estate. The effect of other sustainability measures on real estate values, however, is unknown. This study examines the relationship between multiple sustainability aspects and the transaction prices of different types of real estate. For this study, we used official data on commercial real estate transactions from the Land Registry Office in the Netherlands and sustainability assessment scores from a Dutch sustainability consultant. In total, 10,652 real estate transaction prices between 2012 and 2023 and corresponding sustainability scores were used to perform regressions and hedonic imputation analyses. The results show that, opposed to energy, other aspects of sustainability often correlate negatively with transaction prices in the lower segment of sustainable real estate. These aspects correlate positively in the upper segment of sustainable real estate.

The Adequacy of the UAE Commercial Law in 2023 in Regulating Artificial Intelligence as a Subject of the Contract

The study aims to identify the adequacy of the UAE Commercial Law in 2023 in regulating artificial intelligence as a subject of the contract, This will be done by searching for the way in which the UAE legislator intervened to control the good and effective use of artificial intelligence, whether it was able to reconcile between protecting the interests of the parties to the transaction and encouraging technological development and investment in artificial intelligence to achieve the goals of the National Strategy for Artificial Intelligence. Then, the cases of using artificial intelligence as a subject for commercial transactions will be highlighted, because artificial intelligence is considered one of the funds and products that can be the subject of commercial transactions between professional traders, which remain subject to the applicable legislation, even those that link the trader to the consumer due to the availability of the elements of the consumer process in this type of transaction, which is concerned with protecting the consumer because the consumer transaction must be carried out with transparency and responsibility. However, as a result of the privacy of such transactions, the current legislation does not appear sufficient, but rather work must be done to establish legislative provisions to control dealings in artificial intelligence at the local and international levels to govern artificial intelligence.

The development of electronic commerce in the Republic of Moldova

The formulation of proposals for the development of e-commerce were carried out based on the research of this process on the internal and external markets of the Republic of Moldova. In the article, general scientific methods of research were used: the analysis, economic-statistical methods of research. The list of the used references is presented in the end of the work. E-commerce is a sector of the economy that includes commercial and financial transactions, business processes and other actions: advertising, sales, payment for goods. The main advantages of e-commerce are: the reduction of costs, the expansion of the target audience and the reduction of the number of intermediaries. The commercialization of goods through e-commerce platforms on the market of the Republic of Moldova registers significant increases. The article will explore the examination of the e-Commerce process in the international and local market, the studying and elaboration of proposals for the improvement of e-Commerce in the republic.

최신 ｢중국 회사법｣상 회사 소송제도에 관한 개정 내용 및 평가

Since the establishment of the Company Law in 1993, China's Company Law has revised five revisions in 1999, 2004, 2006, 2013, and 2018, but the large-scale revision was in 2006 and 2023. The 2023 revised Chinese company law is a complete revision, including the company capital system and governance structure, but the most noticeable change among them is the active attitude toward the company litigation system. The newly revised company law was more faithful to its role in mediating commercial disputes. In this paper, we looked at the shareholders' right to know, defects in resolutions at the general shareholders' meeting, and amendments to the lower limit of the representative litigation system.Because of the revision of China's company law will be a significant impact on commercial transactions in China, but also on Korean enterprises in China and transactions between South Korea and China, the writing of this article is particularly meaningful.

PARTICIPATION OF THE STATE IN INTERNATIONAL COMMERCIAL TRANSACTIONS (INTERNATIONAL COMMERCIAL ACTIVITY): IMMUNITY ISSUES

The article examines current trends in the development of state immunity in international commercial relations. The author characterizes and defines the concept of a commercial transaction while identifying the peculiarities of the state's participation in these relations as a subject of private international law. International legal instruments and national legislation in this area are analyzed. The author substantiates the necessity of applying limited immunity in international private law relations and places special emphasis on court practices.

عناصر المحل التجاري التقليدي والإلكتروني

In this research, I wrote about the elements of traditional and electronic commercial stores in Saudi laws. Explaining the nature of the commercial store, both traditional and electronic. Then I wrote about the elements of the traditional commercial store and divided them into Tangible and moral elements. In conclusion, I talked about the material and moral elements that are excluded and disputed in the traditional commercial store, and I mentioned what is correct in the disputed elements. After that, I wrote about the privacy of the electronic commercial store - and I mentioned the word privacy in order to mention the concepts of the electronic commercial store, and not to repeat the common concepts between electronic and traditional, and not to delve into the similarities between them. I described the Tangible and moral elements of the commercial and online store and mentioned the appropriate concepts for the online store. I did not limit myself to the description, but I also analyzed texts and regulatory references. Finally, the results and recommendations were mentioned. One of the most important findings of the draft commercial transactions law is that rights and debts are considered material elements of the store. One of the most important recommendations in this research is that the Saudi legislator must rectify the conflict that I mentioned between the trade names law, “dealing in a store that does not include its trade name unless it is agreed upon in writing,” and the draft commercial transactions law. “It is permissible to dispose of the warehouse and disposal includes everything in the warehouse.

Sign Language Interpreting System Using Recursive Neural Networks

According to the World Health Organization (WHO), 5% of people around the world have hearing disabilities, which limits their capacity to communicate with others. Recently, scientists have proposed systems based on deep learning techniques to create a sign language-to-text translator, expecting this to help deaf people communicate; however, the performance of such systems is still low for practical scenarios. Furthermore, the proposed systems are language-oriented, which leads to particular problems related to the signs for each language. For this reason, to address this problem, in this paper, we propose a system based on a Recursive Neural Network (RNN) focused on Mexican Sign Language (MSL) that uses the spatial tracking of hands and facial expressions to predict the word that a person intends to communicate. To achieve this, we trained four RNN-based models using a dataset of 600 clips that were 30 s long; each word included 30 clips. We conducted two experiments; we tailored the first experiment to determine the most well-suited model for the target application and measure the accuracy of the resulting system in offline mode; in the second experiment, we measured the accuracy of the system in online mode. We assessed the system’s performance using the following metrics: the precision, recall, F1-score, and the number of errors during online scenarios, and the results computed indicate an accuracy of 0.93 in the offline mode and a higher performance for the online operating mode compared to previously proposed approaches. These results underscore the potential of the proposed scheme in scenarios such as teaching, learning, commercial transactions, and daily communications among deaf and non-deaf people.

Enhancing International Trade Security: Real-Time Risk Assessment in Brazilian Customs with Blockchain Technology

This study introduces an innovative approach by integrating blockchain technology with risk analysis methods for international trade. The practical application and tangible improvements observed in a real case study highlight the originality and value of this approach, offering a robust framework for future research and practical implementation. The security of exports presents a challenge for customs authorities, requiring the analysis of vast volumes of data from diverse sources and stakeholders. Blockchain technology offers a viable solution by facilitating the sharing of reliable and secure data among participants in the international supply chain. This study proposes a distributed risk analysis method based on Blockchain to detect and prevent fraud and irregularities in Brazilian exports. The technique aims to enhance efficiency and protection in customs clearance, providing real-time risk analysis feedback at various supply chain stages. The method includes four stages: data collection, risk classification, validation, and feedback. It employs a Model Form for Insertion into the Blockchain, the DBSCAN algorithm to identify out-of-pattern transactions (outliers) at the manufacturing stage, and a Monte Carlo simulation to analyze the volume and specific products exported from Rio Grande do Sul. We applied this method in a case study of beef exports from Brazil. Using this method led to significant improvements in processing times, operational costs, transparency, and security in the supply chain. The blockchain-based approach identified fraudulent activities, such as value tampering and undeclared goods, enhancing compliance and trust among trade partners. Implementing this method can significantly reduce operational costs and processing times in international trade while increasing security and transparency. This approach benefits customs authorities and private operators, promoting a more reliable and efficient commercial environment. Adopting blockchain technology in international trade can reduce fraudulent and illicit practices, promoting greater fairness and equity in commercial transactions. Increased transparency strengthens trust among various actors in the supply chain, fostering a sense of social responsibility.

Use of e-Wallets and Their Impact on SME Business Transactions

Currently, worldwide there is an accelerated digital transformation, which will continue in time with the same trend, becoming an everyday part of human life. The appearance of covid-19 has had a strong impact on several aspects of life, especially in the way of acquiring products and/or services, which, due to the fear of receiving money from a person infected with the virus, led people to look for other options to carry out their economic transactions without physical contact, such as the use of electronic wallets. However, many entrepreneurs still do not use this type of technology in their businesses. The purpose of this research is to determine the impact of the use of electronic wallets in the commercial transactions of SMEs. To this end, we worked with entrepreneurs in the town of Otuzco in the La Libertad Region of Peru. It was observed that they only carried out transactions using the cash collection and payment method and did not use technological tools such as electronic wallets. This is applied research with a quasi-experimental design, cross-sectional and quantitative approach, with a sample of 88 SMEs divided into a control group (23 SMEs) and an experimental group (65 SMEs). The survey was used as a data collection technique, and a program was developed to promote the use of electronic wallets in the entrepreneurs of the city of Otuzco, obtaining as a result a positive impact on the commercial transactions of these SMEs. The results show that 96% of the merchants were reluctant to use electronic wallets for fear of being affected by computer crimes. After the training, 98% of the merchants monitored recognized the importance of their use in their regular commercial transactions. In conclusion, it was found that training on the use of electronic wallets and continuous monitoring have a positive impact on the level of commercial transactions, boosting the competitiveness of businesses by increasing sales, streamlining operations, and reducing financial costs. The research is of interest because it shows the importance of disseminating programs in the use of technological tools such as digital wallets in small businesses to achieve a positive impact on the improvement of their economic activities.

The Effects of Artificial Intelligence and Modern Technology on Commercial Transactions for Commercial Transactions Law 2023

In light of the Fourth Industrial Revolution, the intervention of artificial intelligence in commercial transactions has expanded, and it has not remained a mere subject or subject of the contract, whether it is a material or moral product, but has gone beyond that to have a fundamental and effective role in concluding the contract as an electronic agent that makes the contract automated and concluded in whole or in part in an automated manner without human intervention. The UAE legislator was interested in regulating its use, whether under the Electronic Transactions Law of 2006 and the current one of 2021, and referred to this possibility under the Trade through Modern Technology Law of 2023; It considers it an information program that represents the original principal and bears the effects of the transaction concluded with the intervention of artificial intelligence despite not granting the electronic agent legal personality. The integration of artificial intelligence and modern technology into commercial transactions has profoundly transformed the landscape of commercial law. Artificial intelligence techs, including natural language processing and machine learning algorithms, are increasingly utilized for contract formation, risk assessment, and dispute resolution. Such technologies enhance efficiency, decreases human error, and advance transactional processes, offering substantial advantages for businesses and consumers. Modern technology, consists of digital currencies, smart contracts, and blockchain, has further revolutionized commercial transactions through offering unprecedented levels of security, transparency, and automation. Blockchain technology warrants irreversible and provable records, while smart contracts perform automatically when predefined conditions are met. This minimizes the need for intermediaries and enhancing integrity of the transactions carried out. Additionally, this paper addresses the legal and regulatory responses to these technological advancements. Jurisdictions across the world are grappling with the need to update existing laws or come up with new ones in order to address the challenges posed by AI and modern tech in commerce. The dynamic nature of technology calls for a flexible and adaptive legal approach in order to make sure that commercial laws remains to be relevant and effective.

The Impact of International Commercial Customs (Lex Mercatoria) on International Commercial Arbitration

Lex Mercatoria play a crucial role in resolving disputes arising from international trade contracts before arbitration bodies, thus establishing them as an independent legal system capable of regulating international commercial relations. This legal characteristic imposes a certain obligation on various arbitration bodies to apply them to the disputes brought before them, either based on the parties' intentions or based on the legal force inherent in those customs. Consequently, this research examines the extent of recognition of the binding force of commercial customs before arbitration bodies, and based on that, it elucidates the authority of these bodies in applying them to international trade disputes. It is evident that these customs, due to their flexibility derived from the nature of commercial transactions and the customary practices of traders resorting to them, have become today an independent legal system that imposes itself on arbitration bodies even if the parties did not choose to apply those customs. This paper recommends the Jordanian legislator to explicitly adopt the application of these commercial customs in the Jordanian Arbitration Law texts, following the example of national and international comparative legislation.

KAJIAN PERENCANAAN PASAR INDUK KABUPATEN BADUNG DENGAN PENDEKATAN TATA RUANG, ARSITEKTUR, DAN BUDAYA LOKAL BALI

In the central market planning project in Badung Regency, Bali, the main objective was to develop an economic center that combines cultural elements with sustainable economic growth. The planning goes beyond the traditional paradigm of development by integrating cultural, social, environmental, architectural, civil engineering and economic factors, creating an entity that carries more value than just commercial transactions. The central market is intended to represent a balance between cultural heritage and the dynamics of modernity, with reference to the principles of Tri Hita Karana (balance with God, fellow humans, and the natural environment) as well as the concept of Hulu - Teben which directs the organization of space based on the flow of the river. The Tri Mandala and Sanga Mandala concepts guide the zone mapping and building orientation, optimizing air circulation and natural lighting. The market architecture adopts traditional Balinese elements such as limasan and jineng roof forms, and utilizes natural materials such as red bricks and temple stones. A purposeful and iconic signage system, including the Ratu Niang Sakti statue, became an important part of the design. The result is a synergy between cultural values and global progress, forming a neighborhood that functions not only as a place of transaction, but also as a vehicle for cultural preservation and a driver of inclusive economic growth. The project encourages active community participation in the development process, accelerates the welfare of local communities, and improves the competitiveness of the region. Thus, the project achieves its goal not only as physical infrastructure, but also as a platform that integrates cultural significance and economic dynamism within the framework of sustainable development

The role of digital arbitration in the resolution of electronic commerce disputes between the necessity of application and the imperative of confrontation

The world has recently undergone a major shift in international information technology, software and communications, which has been regarded as a global revolution in many areas. and transformed traditional means of commercial transactions into electronic means of communication through the promotion, exchange and completion of transactions of goods using modern telecommunications and information exchange technology without the parties meeting in one place, Whether mutual commitments can be implemented electronically or require concrete physical implementation which created for us e-commerce that has become a reality of a real pension, It is also one of the economic pillars of the State and an important mechanism for raising productivity. This necessitates the provision of the appropriate legal environment and the search for means to ensure that they are controlled within a systematic and regulated legal framework, In particular, contracts involving international parties via the Internet require delving into private international law, the determination of the judicial area for the resolution of electronic commerce disputes and the determination of applicable law was a major burden on parties and States, which prompted their clients to seek alternative electronic mechanisms to replace traditional courts to settle disputes resulting from the use of electronic media in their commercial transactions, so-called ODR dispute resolution. s electronic teleconference, this has made recourse to electronic or digital arbitration as a virtual judge system a requirement of many international organizations and associations. The forms raised: how effective is digital or electronic arbitration in resolving e-commerce disputes? We therefore divide our research into two sections, dealing with section I: the conceptual framework for electronic commerce as well as digital electronic arbitration, and section II: the role of digital arbitration in the termination and resolution of e-commerce disputes.