Contracts In Europe Research Articles

Procedures for Awarding Work Contracts in Europe

Choosing a contractor with the best competencies is particularly important, especially in construction contracts. Using data available on the opentender.eu platform, information for 2022 was compiled regarding the size of the public procurement market and the procedures used in public procurement for construction works in European countries. The most common procedure used under the European Union Directive for awarding work contracts, in most countries, is the open procedure. The largest share of this procedure, amounting to over 95% of all proceedings, is in the countries Croatia, Cyprus, Greece, Latvia, and Poland. On the other hand, there are countries where the procedures proposed in the Directive are used to a small extent. In order to distinguish groups of European Union countries characterized by a similar structure of public procurement for work, the joining (tree-clustering) algorithm was used. This will provide insights into the strategies of countries in this area. Knowledge of the advantages and disadvantages of the various procedures may improve the public procurement system.

How Radical is the Understanding of Democracy in Justifying Contract in Europe?

How Radical is the Understanding of Democracy in Justifying Contract in Europe?

Justifying Racial and Gendered Contract in Europe

Justifying Racial and Gendered Contract in Europe

3rd Annual International Pharmacoeconomic Forum Highlights.

3rd Annual International Pharmacoeconomic Forum Highlights.

The Radical Aspirations of Justifying Contract in Europe

The Radical Aspirations of Justifying Contract in Europe

Thoughts on Martijn W. Hesselink’s, Justifying Contract in Europe, Political Philosophies of European Contract Law

Thoughts on Martijn W. Hesselink’s, Justifying Contract in Europe, Political Philosophies of European Contract Law

Government Responses on Corona and Contracts in Europe: A Compilation of Extraordinary Measures in Times of Crisis

In March 2020, the new coronavirus (Covid-19) outbreak, which was eventually declared a pandemic by the World Health Organization, changed everyday life all over Europe from one day to another. Under those extraordinary circumstances, a wide range of issues concerning the law of contracts are becoming particularly important. In the early stages of the pandemic, during lockdowns and a subsequent reopening of the economy, many European countries have implemented significant and unprecedented measures in response to the current crisis. Against this backdrop, the more fundamental question arises whether and to what extent we need an extraordinary law of contracts in times of pandemic. Drawing on five important civil law jurisdictions (Germany, Austria, Switzerland, France, Italy), the paper provides for an analysis and discussion of various extraordinary measures taken by European governments and puts these measures into perspective. A functional and comparative approach is used to elaborate on how contract law should respond to the current crisis. Coronavirus (Covid-19) pandemic, commercial contracts, consumer contracts, employment contracts, lease contracts

Government Responses on Corona and Contracts in Europe: A Compilation of Extraordinary Measures in Times of Crisis

In March 2020, the new coronavirus (Covid-19) outbreak, which was eventually declared a pandemic by the World Health Organization, changed everyday life all over Europe from one day to another. Under those extraordinary circumstances, a wide range of issues concerning the law of contracts are becoming particularly important. During the lockdown and the subsequent reopening of the economy, many European countries have implemented significant and unprecedented measures in response to the current crisis. Against this backdrop, the more fundamental question arises whether and to what extent we need an extraordinary law of contracts in times of pandemic. Drawing on five important civil law jurisdictions (Germany, Austria, Switzerland, France, Italy), the paper provides for an analysis and discussion of various extraordinary measures taken by European governments and puts these measures into perspective. A functional and comparative approach is used to elaborate on how contract law should respond to the current crisis.

Is Poland in a middle income trap? A theoretical and empirical analysis

Motivation: There are many victims of middle economic income trap in the world. This term commonly refers to countries that have experienced rapid growth, which enabled them to reach the status of a middle-income country, but finally have not been able to catch up the developed countries and achieve high-income status. Following this raises the question about Poland’s economy position in the context of middle income trap. Aim: The aim of article is to present the position of polish economy in the context of ‘middle income trap theory’. Results: Poland is a middle-income country, and some classifications say it is even a high-income country. The analysis of statistical indicators shows that in Poland there is a problem with the quality of labor, education and competencies, often because of the outflow of talented human capital. Moreover, as is known from the data prepared for the Strategy Europe 2020, Poland has the highest percentage of fixed term contracts in Europe and high poverty at work. Also the low share of the R&D expenditure in the GDP goes together with low sub-indexes of the Global Competitiveness Index and the Index of Economic Freedom. As to the export structure, there was considerable increase in middle and upper technology goods share over the last 20 years.

Contract stability in European road infrastructure PPPs: how does governmental PPP support contribute to preventing contract renegotiation?

ABSTRACTIn the last decade a considerable number of PPP contracts in Europe turned out to be instable and were renegotiated. This paper studies which combinations of conditions in terms of macro-level business environment and governmental PPP support and at project-level (remuneration scheme, risk allocation, project age and contract duration) contribute to avoid contract renegotiation, by conducting a qualitative comparative analysis of twenty five European road infrastructure projects. Results show that although the broader macro-level business environment has a clear contribution, contract stability can benefit from an availability-based remuneration scheme and a well-developed governmental PPP support in combination with other conditions.

Clearinghouse-Five: Determinants of Voluntary Clearing in European Derivatives Markets

Central clearing is a major part of the policy response to the financial crisis of 2008, aiming to reign in counterparty credit risk in derivatives markets. I perform an empirical study of the incentives for voluntary central clearing of OTC derivative contracts in Europe. Central clearing acts as insurance against counterparty credit risk related to derivative contracts, and is legally mandated for a specific subset of standardized derivative contracts, with a significant portion of the other contracts eligible for voluntary clearing. I show that there exist significant economies of scale in central clearing, in terms of both the size of each contract, and the scale of total clearing activity. I also show that maturity of the contract and international frictions affect voluntary clearing of different types of derivative contracts in different ways, linked to the conventional maturity and payout structures of various types of contracts. Finally, I show that significant amount of clearing happens only for credit and interest rate derivatives, while equity, foreign exchange, and commodity derivatives are rarely centrally cleared. The results validate theoretical literature, and guide future modeling of derivative markets.

Sticanje nepokretnosti ugovorom o tajm-šeringu u Evropi

Sticanje nepokretnosti ugovorom o tajm-šeringu u Evropi

Evolution of the Gambling Contract in Europe in the Modern Age

The development of the discipline of the gambling contract during the Modern age is very important to understand better its nature. If during the Middle Ages the gambling contract influenced the development of the category of aleatory contracts and therefore was crucial to the development of some widespread contractual models, the Modern age has led to a new stage of development of gambling which resulted in the substantial distinction of gambling contract from other types of contracts. The result of this distinction was the inclusion of the gaming contract in the general theory of contracts even if this contract was considered morally dangerous. During the Modern age the gambling contract was linked to the development of society and the transition from individual morality to the good for the economy. The legislation and politics have made a distinction between the various forms of the game, supporting the productivity of some and leaving unproductive forms without access to the law. This important evolution begins in the UK, where gambling was widely practiced and regulated. Instead continental Europe, living the period of the great codifications, inserts the gambling contract in the codes, offering a very special position: denying action and repetition, so recognizing agreements that could hardly be considered real contracts as they do not involve the creation of legal obligations to the parties. This article attempts to outline the existence of a European perspective on regulation and development of the modern age gambling contract. This purpose is very important because the approach has remained unchanged and the code positions even now reproduce the common position of the gambling contract with action and repetition denied. The current article is also about the need to create a regulation of gambling at European level. For this purpose the historical analysis allows to identify the origins and common approaches in the various European countries. The argument is innovative as confirmed by the presence of very few sources in the field of legal science dedicated to the analysis of the game and gambling contract in the Modern period. The article is based on a wide range of works, written by lawyers from different backgrounds, dealing with the theme of the gambling on a piecemeal basis. The consequence is that the article also attempts a unified composition of these studies, with the hope that this may provide a new scientific contribution to legal literature on the subject of gambling and gambling contract. The first part of the article is dedicated to the development of the gambling contract in the UK which led to an important event: the distinction between insurance and gambling. The second part is dedicated to the development of legal thought on the ludic phenomenon in continental Europe. This part describes the approaches taken in various countries such as France, Italy, Spain, Austria and others. The final part is trying to identify the differences and commonalities between these European countries, as well as the doctrinal positions and practices still present today.

Determinants of Indefinite Contracts in Europe: The Role of Unemployment

Using individual-level data from the 2010 wave of the European Working Conditions Survey (ewcs), and country-level data on unemployment, employment protection legislation and union density for 21 European countries, this paper provides a comprehensive multi-level analysis of the determinants of indefinite employment contracts. The authors find that workers’ autonomy on the job, the intensity of computer use, and the presence of general and specific skills are associated with greater contract security. Perhaps more importantly, the authors find a strong negative effect of unemployment, particularly on workers cumulating multiple sources of labor market vulnerability, such as young age, low skill, low autonomy, and immigrant status, especially but not exclusively in the Mediterranean countries most affected by the crisis.

Immorality of Contracts in Europe

To what extent is there consensus on the handling of contractual morality in Europe and what way forward can be envisaged for the debate on this topic? Four approaches to the question of morality in European contract law are investigated in this paper. These provide a chronological overview of the developments in this field, as well as insights into legislative, judicial, political and academic contributions to the development of European contract law. Firstly, the handling of diversity in EU legislation and case law is sketched; a deferential approach emerges here, in which certain common values or principles are defined, but the specification in legal rules is mostly left to national legislatures and judiciaries. Secondly, academic endeavours to further harmonise contract law in Europe are addressed, in particular the Principles of European Contract Law (PECL) and Draft Common Frame of Reference (DCFR); as the name of the first instrument indicates, a more principled approach results from these. Thirdly, the reception of this academic work in the European Commission’s proposal for a Common European Sales Law (CESL, proposed in 2011, withdrawn in 2015) is assessed; the choice not to include any rules on immorality and illegality in this document stands out and may be seen as a missed opportunity to facilitate a debate on values underlying European integration. Finally, the approach adopted in the Common Core project is compared to the other three in order to clarify what a case-based comparative method can teach on moral limits expressed in the rules of contract law that govern the European internal market. In conclusion, it is submitted that the discourse on integration through (contract) law is not and should not be indifferent to questions of morality. While it may be a difficult task to ever establish common rules on immorality and illegality of contracts in Europe, it is important to foster spaces for deliberation of the morality of certain contracts in legislative, judicial and academic processes.

The dawn of LNG price reviews in Asia Pacific

LNG is often sold under long-term contracts with strong volume commitments from both sides, and a cost linked to the oil price. In volatile commodity markets, parties are under pressure to try to review the price under the agreement, either on the basis of price review clauses, hardship clauses, or by relying on general legal principles. This leads to great commercial and legal challenges for both buyers and sellers. The experience in Europe with gas price reviews can be a source of knowledge for companies on how to deal with price reviews. Long-term gas contracts in Europe also used to be linked to oil prices. This led to a great number of price reviews when oil prices started to soar as of 2005. After that, a new wave of price reviews arose when gas prices decoupled from oil prices in 2009. European gas companies are still dealing with the resolution of those reviews. On the basis of a number of case studies, this extended abstract sets out the key points that have been learned from a decade of price reviews in Europe with a focuses on practical advice for commercial and legal decision makers. It discusses how negotiations on price reviews are best approached; whether parties should voluntarily disclose confidential information about prices (also in view of competition law), and how arbitrators deal with a gas price review.

The dynamics of bank debt renegotiation in Europe: A survival analysis approach

Debt renegotiation matters for the borrower-lender relationship to ensure the credit agreement is regularly amended to include new information. I investigate the determinants of the dynamics of bank loan renegotiations using a sample of 1 600 amendments to private debt contracts in Europe. Employing a stratified Cox-type hazard model, I find that initial loan terms, banking pool features, amendments’ characteristics, and the legal environment significantly influence the duration time between renegotiations. Contract complexity, informational frictions in the borrower-lender relationship, the uncertainty of the economic environment, and the legal protection of creditors play a major role in shaping the dynamics of bank loan renegotiation in Europe.

A Comparative Study of Automatically Renewable Contracts in Europe

This article provides a bird's eye view of the different positions taken in several jurisdictions with regard to automatically renewable contracts. It also takes into account the different approaches to the provider's possibility of changing the terms of the contract and shows that, in some cases, the approaches may not yield the results expected in practice. This research also evaluates which EU Member States provide the highest level of consumer protection.

The unconventional gas revolution and the prospects for Europe and Asia

The development of unconventional gas exploration in the USA, in particular shale gas, caused a revolution in the American and the global gas markets. The regional-wide use of unconventional gas resources could stabilise the natural gas demand and the energy supply security of European and Asian countries. But traditionally, almost all gas contracts in Europe and Asia are linked to oil because of the demand for stable, long-term contracts. Furthermore, in many Asian countries, large state-owned enterprises dominate their national gas markets, leading to little competition and incentives to reduce gas prices. In Europe, the expansion of unconventional gas is facing grassroots opposition from environmental groups who are concerned about ground water safety, adequate waste water management, seismic events and greenhouse gas emissions. This article examines the rapidly changing natural gas markets and the role and prospects of unconventional gas as well as the impacts it may have on European and Asian energy security. It highlights, in particular, the geo-economic and geo-political implications and discusses whether the US unconventional gas revolution can be duplicated in Europe and Asia.

What Drives the Dynamics of Bank Loan Renegotiation in Europe?

I investigate the determinants of the duration between bank loan renegotiations using a sample of 1 600 amendments to private debt contracts in Europe. The median duration between loan amendments equals one year, although frequently renegotiated contracts are amended every five months. Employing a stratified Cox-type hazard model, I find that initial loan terms, banking pool features, amendments’ characteristics and legal environment significantly influence the duration time between renegotiations. Contract complexity, informational frictions in the borrower-lender relationship, uncertainty of the economic environment and legal protection of creditors play a major role in shaping the dynamics of bank loan renegotiation.