Lease Contract Research Articles

Juridical Review Of Default In A Motorcylcle Leasing Agreement (Research Study At. PT Adira Dinamika Multifinance, Tbk)

Development in a society is seen in the development of existing institutions in that society, both in the economic, social, cultural and political fields. In line with the increasing number of National Development activities, the participation of the private sector in the implementation of development will also be increased. This situation, either directly or indirectly, will demand more active activities in the financing sector. Various efforts to raise public funds have been made through the establishment of government policies. Business expansion requires financing of funds, apart from the banking system and non-bank financial institutions that are known, there are other alternative financing systems, namely: "leasing. Basically the agreement that has been made applies as a law for the parties as stated in article 1338 of the Civil Code. However, in reality, it is not uncommon for the parties to carry out the agreement that has been made, which is known as "default". Such is the case in the leasing agreement. The occurrence of congestion in the payment system, violations of the provisions in the leasing contract such as sub-leasing, pledging goods that are the object of the lease or selling the goods with the aim of breaking away from rental payments are examples of forms of default committed by the lessee. This is what ultimately causes execution by the lessor of the leasing object.

Implementasi Blockchain Pada Akuntansi dan Audit di Indonesia

Since 2009, blockchain has become a potentially transformative information technology that is expected to be as revolutionary as the Internet. Originally developed as a methodology for recording cryptocurrency transactions, the functionality of the blockchain has grown into a large number of applications, such as banking, financial markets, insurance, voting systems, lease contracts, and government services. Despite such advances, the application of blockchain accounting and assurance is still unexplored. This paper aims to provide an initial discussion of how blockchain can enable a real-time, verifiable and transparent accounting ecosystem. In addition, blockchain has the potential to change current auditing practices, resulting in a more precise and timely automated audit system.

Optimal maintenance policy for equipment leased with base and extended warranty

ABSTRACT In this paper, we consider an equipment leased with a warranty contract with the possibility to extend the warranty at a given price that depends on its duration. During the warranty period, the lessor (who possesses the equipment) performs and pays for repairs at failure and for preventive maintenance (PM) actions whenever the equipment reliability reaches a specific limit. After the warranty ends, repairs and PM actions are still performed by the lessor, but they are billed to the lessee (who rents the equipment). Furthermore, in case the total average equipment downtime due to repair and PM actions during the lease period surpasses a certain pre-specified limit agreed on in the lease contract, a penalty is supported by the lessor. A mathematical model and numerical procedure are proposed to determine the PM intervals durations that maximise the lessor’s expected total profit during the lease period. The optimal solution is obtained by determining the combination between the optimal equipment reliability threshold that triggers a PM action and the optimal extended warranty period. A numerical example is given to illustrate the use of the proposed model and a sensitivity analysis is performed.

Equipment Leasing Model with Failure Tolerance Cost Using Game Theory

In this study the equipment lease contract, where two players, the lessor, lease the equipment to the user (lessee), if the equipment fails to exceed the tolerance agreed by both players during the lease period and needs to be repaired, it is considered detrimental to the lessee, because it results in a loss of potential revenue will be received from leased equipment. Therefore, the total income of the lessor in the lease contract may incur penalty costs as a consequence of the lessor for failure to maintain maintenance performance. We use Nash's game theory formulation to find a win-win solution between players where it is an equilibrium point for lessor and lessee. The results of this study are, when Lessee decides to maximize profits, which is the total potential profit gained by the lessee using leased equipment, and the lessor also decides to maximize their profits derived from the leased equipment by considering penalty cost as a cooperatively determined variable. The selected scenario is the percentage of the minimum penalty cost with the maximum level of equipment used.

Notes: Commodus usus, exclusive trade rights and public policy in lease: Masstores (Pty) Ltd v Pick ’n Pay Retailers (Pty) Ltd

In Masstores (Pty) Ltd v Pick ’n Pay Retailers (Pty) Ltd 2017 (1) SA 613 (CC) the Constitutional Court found that the personal right of exclusive trade in the lease contract was contrary to public policy and not worthy of protection. To do so, the court relied on the ‘competition principle’ — that the competitor who delivers the best or fairest (most reasonable) performance must achieve victory, while the one rendering the weakest (worst) performance must suffer defeat. The court was of the view that, as a general proposition, third parties have no legal duty not to infringe contractually derived exclusive rights to trade. According to the majority, exclusive trading rights make the competitive field uneven. The court emphasised that the boni mores must be understood in terms of the values of the Constitution, and that the values contained in the Bill of Rights are a crucial tool in the development of the common law. Although the majority judgment focused on the delict of unlawful third-party interference in a contractual relationship and the nature of interdicts, the judgment relates also to the question of the personal right to commodus usus in a lease contract, and the remedies available to vindicate this right. The intersection of these issues is investigated in this note.

Evaluating the Management of Public Private Partnerships for the Provision of Affordable Housing in Nigeria

The Impact of Public Private Partnership is beginning to be more pronounced in emerging markets like Kenya and Nigeria as a preferred means for the delivery of Infrastructure and Housing. In terms of its popularity, the adoption and growth of Public private partnerships has been traced to under performance of Government Budgeting and lack of sufficient funding available to government for financing the different strategically important and development focused projects (including Social Housing), this is also in addition to governments poor risk management capabilities. The challenges facing public funding and its impact on the country’s development have increased the potential for public-private partnerships as an alternative to infrastructure and housing. The study examined the impact of public-private partnerships on affordable housing in Nigeria. It also includes other purposes; examining the impact of management contracts on the provision of affordable housing in Nigeria to identify the impact of the joint venture on the provision of affordable housing in Nigeria. The research adopted the survey research plan and used a structured questionnaire as a tool for data collection. Data analysis was performed in addition to mean and percentage descriptive statistics, as well as correlation and regression analysis. The results showed that Build Own Operate & Transfer Policy has a significant impact on the provision of affordable housing in Nigeria and Lease Contracts has a positive impact on the provision of affordable housing in Nigeria. The study concludes that for public-private partnerships to flourish and achieve affordable housing, each partnership must identify measures of success, be able to quantify and monitor their performance, and identify and address emerging issues. It was suggested that the government take responsibility for ensuring that an enabling institutional environment and infrastructure is provided to support PPP execution. It was also proposed that the government adopt and establish a Viability Gap funding framework to attract private sector participation. As alternative and effective sources of funding will promote affordability and enable public-private partnerships to thrive for the identification, development, funding, implementation, and successful management of affordable housing PPP’s in Nigeria.

Application of transport contracts and fulfillment of transport obligations in the civilistic paradigm

This article focuses on the notion of an ambiguous category such as the "transport contract". The difficulties in defining this concept are due to the fact that there is ambiguity in related concepts such as "carriage", "transport service" and "transport process". Purpose: To form a scientific understanding of the transport contract and the criteria to distinguish this concept from related contractual constructions. Methods: systematic approach, methods of comparison, description, interpretation; theoretical methods of formal and dialectical logic. Particular scientific methods were used: comparative-legal and the method of legal norms interpretation. Results: Analysis of the positions of scientists and current civil legislation has shown that the transport contract is characterized by specific subject composition, connection with the transportation process and purposefulness. Conclusions: It is necessary to distinguish transport contracts from other contracts, in which one of the parties is a transport organization, in particular from the contract of lease of vehicles with crew. Despite the assertion of many scholars that the concept of a transport contract can only be used for scientific purposes, it is argued that the concept can also be used for practical purposes, for example, in the process of codification.

Оцінка ефективності лізингових операцій у випадку ануїтетної схеми розрахунку лізингових платежів

The article proposes a method for assessing the efficiency of leasing operations in the case of an annuity scheme for calculating leasing payments, which is based on comparing leasing with loan that is close in terms of economic essence to the method of financing real investments. This approach is often used by leasing companies and other participants in the leasing market in the United States when assessing the efficiency of leasing agreements. In the development of mathematical instrumentarium, the authors took into account the peculiarities of taxation and the functioning of all parties to leasing contracts in Ukraine and the current legislative and other regulatory documents in this area. This approach to assessing the efficiency of a leasing agreement is based on the fact that two cash flows, payments on which occur at different points in time, will be considered equivalent if their current values (or accrued amounts) calculated at the same discount rates turn out to be equal. In determining the discounted value of cash flows under the leasing agreement, it was taken into account that leasing payments, in addition to the minimum rental payments, also include the cost of services payable to the lessor, taxes and unforeseen leasing payments. Thus, if the present value of the company’s cash flows during leasing is greater than the present value of the cash flows of the same enterprise taking a loan, then it can be stated that the purchase of equipment through credit borrowings will be more profitable for the enterprise. Conversely, if the present value of the company’s cash flows during leasing is less than the present value of the cash flows of the same enterprise taking a loan, then the cost of equipment obtained through leasing will be lower compared to the purchase through loaning, and therefore it is more expedient for the enterprise to stick with the leasing agreement.

A Study on the Reality of Considering Urban Plans as Justifiable Grounds for Refusal to Renew Building Lease Contracts

A Study on the Reality of Considering Urban Plans as Justifiable Grounds for Refusal to Renew Building Lease Contracts

The path forward for the housing lease system of reunified Korea

South and North Korea have diametrically opposite property systems, the disparity of which is most evident in respect of immovables. While South Korea, a capitalist market economy, adopts an open market approach, North Korea under communist rule favors a heavily centralized and strictly regulated approach towards immovable property. Such a stark contrast will prove be very challenging in harmonizing the two systems if the time comes for reunification on the Korean peninsula. Although it is virtually impossible to predict the form and process by which reunification may occur, it is vital that we prepare for such an event. The objective of this paper is to do just that by considering some of the critical questions that are likely to arise in the process of harmonizing the property and housing systems of South and North Korea. One such question regards the matter of privatization. Given the general lack of housing in North Korea, we need to introduce special legislation in the Northern part of the Korean peninsula allowing for, as a rule, one house per household, at least during the initial stages of the reunification. Also, only those who are officially registered by the North Korean authorities as the lawful possessors of these houses should be recognized as being viable for acquiring house ownership. The other critical question addressed in the paper is the direction of reorganizing the housing lease system in post-reunification Korea. The current Housing Lease Protection Act of South Korea will be inadequate for applying in the North. The matters of its scope of application, the opposing power of the lessee, duration of lease, regulation of rent and the right to demand renewal of the lease contract are all dealt with in the paper.

Vehicle hire charge as an essential condition of the vehicle hire agreement

Problem setting. A vehicle hire agreement is a payment agreement in which a counter-provision is required: the lessee is obliged to pay a fee for the use of the vehicle hired from the lessor. Despite the fact that a significant amount of research has been devoted to the study of rental fee in property lease contracts, vehicle hire charge has not been sufficiently studied by scientists, and the legislation governing this issue is imperfect and needs to be amended, as evidenced by the drawbacks of lessors as business entities in the application of the provisions of current legislation on vehicle hire charge. Analysis of resent researches and publications. The issue of rental fee has been studied by legal scholars in various respects. Basic research in this area has been conducted by M. Brahinskyi, V. Vitrianskyi, E. Vakulovych, O. Ioffe, I. Kalaur, M. Moroz, I. Churkin and others. At the same time, the issue of vehicle hire charge as an essential condition of the vehicle hire agreement was given insufficient attention, and thus the matter is urgent and requires further investigation. Target of research. The purpose of this paper is a general study and analysis of the vehicle hire charge as an essential condition of the vehicle hire agreement. Article’s main body. The article provides general study and analysis of of the vehicle hire charge as an essential condition of the vehicle hire agreement (its essence, setting and changing deadlines and forms of payment). The provision is substantiated that in the relations of vehicle hiring the rate is the cost of using the vehicle, as a rule, for a certain unit of time. Ensuring the uniformity of the terms of the vehicle hire agreement as a public contract for all consumers, in terms of the form of payment for hiring, can only be established in monetary terms, taking into account economic nature of money, as a single and common equivalent value of any product. According to the author, the vehicle hire charge which the lessee should pay to the lessor for the entire period of its use is the price of the vehicle hire agreement. Conclusions and prospects for the development. The vehicle hire charge which the lessee should pay to the lessor for the entire period of its use is the price of the vehicle hire agreement. Based on its economic nature, the rate can be set only in monetary terms, as it is the cost of using the vehicle for a particular unit of account (time or distance). Ensuring the uniformity of the terms of the vehicle hire agreement as a public contract for all consumers, in terms of the form of payment for hiring, can only be established in monetary terms, taking into account economic nature of money, as a single and common equivalent value of any product.

The Inculcation of Custom In The Lease Contract: A Comparative Study

This article will discuss custom from a broad perspective by surveying selected court and tribunal rulings and relevant literature. It analyzes the place and nature of tradition, emphasizing objections to custom's legal applicability. The contract arises from the concurrence of two wills that tend towards creating a specific legal effect on the contracting parties and the contracted party. So it happens in the lease contract for the lessor and the lessee. The lease contract is one of the contracts that the Iraqi legislator has designated and regulated, with a summary of the contract's provisions and forms. The legislator retracted a number of them due to their familiarity and established customs and practices among dealers, which contributed to crystallizing numerous solutions to disputes that may arise during the contract term between the lessor and lessee. It can be accomplished by examining the contract's comparing and regulating legal texts and deducing the role performed by common custom. Then, it reflects positively on the judiciary, resolving protracted issues. Finally, it contributes to the strength of judicial judgments regardless of whether the judge relies on the legal text, custom, or the rules of justice. The primary objective is to arrive at a just verdict and do right.

The Agricultural Land Market in Ukraine: Current Conjuncture and Problems of Formation

The agricultural land market was launched in Ukraine on July 1, 2021. Before its opening in Ukraine, experts had attempted to outline various scenarios of its operation, but most part of the predictions proved to be far from reality. The inadequacy and unsoundness of these predictions raise the importance of studies devoted to the current conjecture of the agricultural land market in Ukraine. 
 The article contains results of a study of the processes involved in the formation of the agricultural land market in Ukraine and its current conjuncture. A review of the legal acts of Ukraine that streamlined the evolution of relations on this market was made: the Decree of the President of Ukraine “Urgent measures to accelerate reforms in the agrarian sector of the economy” (1999), the Land Code of Ukraine (2001), the Decree of the President of Ukraine “Supplementary measures on social protection of rural residents who are owners of land plots and land parts (shares)” (2002), the Law of Ukraine “Amendments to some legislative acts of Ukraine on terms of the turnover of agricultural lands” (2020). A comparison of the cost of land lease in Ukraine and EU countries in 2019, and the actual weighted average price of 1 hectare of agricultural land in Ukraine and some other countries was made. Domestic sources of information on the land market operation in Ukraine are given. 
 It is concluded that the land market in Ukraine is in the passive state now, with both demand and supply being slack. The factors behind the low demand and supply on the domestic land market were identified: the demand is constrained by a limited range of buyers and lack of uncostly mortgage loans for purchase of land; the supply is constrained by the low market price of 1 hectare of land, inability of the majority of residents to sell their shares in case of the valid leasing contract, bad legal and financial literacy of rural inhabitants. The efficiency of land leasing in Ukraine remains to be low due to irrational use of soils by land tenants. The need for government regulation of this market is shown.

Revaluating aircraft leasing contracts in the pandemic era: navigating the challenges of invoking force-majeure by applying hardship under international commercial law

Majority of aircraft are acquired on leasing agreements, and the financial burden is on the lessor due to financing heavy equipment for the lessee in these agreements. Therefore, to ensure that the lessee fulfils his lease payment to the lessor, Hell or High-water clause is drafted in the contract.
 This enforces payment by the lessee irrespective of any circumstantial change which makes it difficult for the lessee to pay. However, due to the pandemic, the airlines have suffered from a severe cash crunch making it difficult for them to honor their upcoming contractual obligations.
 The airline companies are debating to invoke Force Majeure in these contracts to excuse nonperformance and avoid damages, but considering the development in Private International Air Law and nature of the contract, taking such measures will be difficult. This paper proposes to apply Hardship codified in the UNIDROIT Principle of International Commercial Contracts so that airlines can renegotiate the contract with the lessors instead of completely avoiding their contractual obligation. 
 This will provide breathing space to the lessee and also ensure his obligation towards the lessor is maintained during the pandemic.

عقد الإيجار- إلتزاماته واقتراناته في القانون السوداني

Abstract The study is important because it sheds light on the statement of the nature of the lease contract, its origin, development and provisions in accordance with positive laws and the provisions of Islamic jurisprudence, and the importance of the study stems from the fact that it provides those interested, researchers and dealers with such contracts with legal conditioning, through which multiple images of this contract can be loved and the legal legitimacy The legitimacy of these contracts in a way that can clarify the matters of this relationship and contracts in front of all its parties, so the aim of this research is to: An attempt to uncover the problems that have arisen in the applications of the lease contract in general and the rights and obligations of the lessee in particular on the one hand, with an indication of the means available to the lessor in the event of a breach of the tenant's rights And his obligations on the other hand, such as compensation, eviction request, termination, or execution in kind, and accordingly, it can be clarified, and the legal effects resulting from the lease contract can be identified within the rights and obligations of the lessee as a binding contract for both parties. The researcher seeks to follow the descriptive, analytical and inductive approach. The study reached many results, the most important of which are: The lease contract is one of the necessary contracts, as was seen by Muslim jurists other than Judge Shirah, which is not unique to one of the two contracting parties to annul it, and annul the lease contract for general reasons such as dismissal, and special reasons such as death, which are different reasons among the scholars. The contracting parties may renew the lease contract by implicit renewal, which is the subject of an agreement between the civil laws and Islamic jurisprudence except in relation to the period of the new contract, the association of the lease with the sale of the leased thing at a symbolic price, and the connection of the lease with a promise of sale, and this image is correct, in addition to the association of the lease with a promise of gift, and this image correct. The study recommends the continuous review of leasing contracts and the treatment of their deficiencies. The competent authorities should take into account the rights of the lessor without prejudice to the rights of the lease holder, the necessity of enacting laws in accordance with the rules of Islamic jurisprudence, so that one of the parties does not oppress the other, while reviewing laws that are not compatible with the rules of Islamic jurisprudence And its fairness.

Depreciation Capital as a Source of Financing of Mining Companies Activities

The issue discussed in the paper is highly relevant and topical in economic practice because of changes in the recognition of certain assets and their depreciation. The author’s research established that depreciation write-off in financial terms constitute capital comprising two components: depreciation and the tax shield effect. The non-tax shield is more important relative to other tax shields because the vast majority of entities in the raw materials industry own assets which are depreciated for the purposes of balance sheet accounting and tax accounting. As a cost depreciation, on the one hand, reduces the financial result and on the other, generates additional operating cash flows. Depreciable assets account for a large portion of coal companies’ assets. In addition, due to the implementation of IFRS 16 on leasing their share increased as did the amount of depreciation. Hence, its share in operating cash flows in Polish coal companies is slightly higher than in global companies. An overwhelming part of the additional depreciation arising from the inclusion in the assets reported in the balance sheet of assets used based on contracts of lease, lending or rental does not reduce the tax basis and does not constitute a tax shield. Consequently, it creates a disparity between the gross profit/loss and taxable income, thereby increasing the effective tax rate. An increase in the depreciation level in coal companies facilitates maintenance of liquidity and provides financing for investment projects and improves debt servicing, especially in times of declining financial result when coal prices are low.

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

Reference Significance of Foreign Offshore Oil and Gas Cooperation Model Experience to China

For a long time, the oil exploration and development business of Chinese oil enterprises is mostly limited to China, and the international cooperation of transnational oil and gas started late. Therefore, compared with foreign companies, there is still a big gap in understanding the business model of overseas oil and gas industry. Therefore, it is necessary to summarize and learn from the past business model. This paper summarizes the main modes of offshore oil and gas cooperation among global oil companies, compares various modes, and studies the cooperative development mode of offshore oil and gas resources. The research shows that under the lease contract mode, foreign oil companies have greater management rights, but with the continuous development of international oil industry, the government of resource countries has gradually increased its control over foreign oil companies.

Women and Stews: the Social and Material History of Prostitution in the late medieval Southern Low Countries

Abstract This article explores the social background and material culture of an understudied medieval brothel, the private ‘stew’, the most common type of brothel in the Southern Low Countries, where public brothels were rare. The fifteenth-century lease contracts of private stews contain information about the stew's size, economic value, and ambiance, suggesting the advantageous social position of some of the women who sold sex and providing inspiration to English brothel keepers. The absence of public brothels in the Low Countries reflected both a tolerance for prostitution and the relative freedom enjoyed by women in this region.

Temporary destudentification caused by COVID-19: Motivations and effects on social relations in a Chilean university city.

The arrival of the coronavirus in 2020 brought major changes to education, with the rapid transition to online classes being the most significant. In the case of university students, the pandemic meant returning to their homes, which can be interpreted as a temporary destudentification. This manuscript analyses and interprets the motivations of university students from Temuco (Chile) to change their social relations and place of residence as a consequence of the COVID‐19 pandemic. Through a quantitative methodology that used more than 800 online surveys and a principal component analysis, it was concluded that the psychological well‐being and the security provided by the family were the main causes for changing accommodation; but a total of four main components related to material conditions, economic aspects, family and psychological and physical well‐being were identified. Similarly, although with the pandemic the family was the most reinforced dimension in terms of social relations, there were groups of students who were more connected to friends and colleagues or neighbours. The results point to a partial and temporary destudentification, explainable by the nature of the lease contract and the dependent role of the students with respect to the landlords.