Payment Terms Research Articles

Judicial fine as a means of ensuring sustainable state development

The article states that sustainable development of the state requires a balanced policy, including criminalisation, decriminalisation of acts, penalisation, depenalisation as well as prosecution, non-criminalisation. That is why the authors targeted one of the types of exemption from criminal liability, the imposition of a court fine, which is relatively new and causes certain difficulties in its application in practise. The purpose of the study is to identify controversial provisions of the criminal law in relation to the regulation of court fines and, on the basis of this, to develop recommendations aimed at eliminating the identified deficiencies of the legislation. The work is based on such methods as system analysis, formal-legal, comparative-legal, statistical and concrete-sociological. Having examined in detail the conditions of exemption from criminal liability in connection with the imposition of a court fine, the authors draw attention to the fact that a number of points require specification, including the terms of payment of a court fine, the definition of its lower limit, etc. They also express their disagreement with the position of the Supreme Court which allows a broad interpretation of the law. Therefore, courts must find out the reasons for nonpayment of the court fines before cancelling the fine and bringing a person to criminal responsibility. On the whole, assessing positively the introduction of a rule allowing for exemption from criminal liability in connection with the imposition of a court fine, they conclude that only a deliberate use of this type of exemption from criminal liability will contribute to the sustainable development of the Russian state, which requires adjustment of the criminal law in terms of regulation of the court fine, as well as some positions of the Russian Supreme Court.

A History of Cold War Industrialisation: Finnish Shipbuilding between East and West by Saara Matala

Reviewed by: A History of Cold War Industrialisation: Finnish Shipbuilding between East and West by Saara Matala René Taudal Poulsen (bio) A History of Cold War Industrialisation: Finnish Shipbuilding between East and West By Saara Matala. New York: Routledge, 2021. Pp. 233. For over four decades, Cold War politics shaped technology and business developments in European and North American military-industrial businesses. Historians of technology, business, and politics continue to debate the nature of these dynamics and their societal implications, and Saara Matala brings a fresh perspective to these discussions with her novel study of Cold War Finnish shipbuilding. She argues that Cold War politics had a decisive influence on Finnish shipbuilders, despite the fact that they specialized in icebreakers and passenger ships—not naval vessels. She also finds that shipbuilding played a central role in Finland's transformation from a fragile, low-cost, agrarian economy in Europe's periphery into a high-cost but competitive European industrial economy with high social stability. After World War II, Finland, a young, capitalist democracy, had to come to terms with the USSR, which had just won the war and demanded Finnish war reparations, including substantial numbers of merchant ships. Finns had to sugarcoat communication with their powerful neighbor. Some observers have scornfully labeled this process "Finlandization" and suggested that Finland could and should have acted differently. However, Matala shows how Finnish businesses navigated Cold War politics to their advantage and gained substantial leverage. After the last war reparations in 1952, Finnish yards continued to supply the USSR with merchant ships. From 1945 to 1970, the majority of deliveries went there, and although domestic and Western European markets increased in importance after 1970, the USSR remained the single most important market in Finland until 1990. For shipbuilding scholars, it is not surprising to learn that shipbuilding was heavily embedded in politics in the second half of the twentieth century. Governments in shipbuilding nations have regularly employed a wide variety of support schemes to counteract the negative employment effects of depressed shipbuilding markets and the rise of Asian shipbuilders. In the long run, however, the center of gravity in shipbuilding moved to South Korea and Japan. In studying the political economy of shipbuilding, historians have focused on the United Kingdom and tended to neglect other countries. Matala's study is a refreshing contribution to this literature, and she gives nuance to the ways in which shipbuilders could gain competitiveness. As Finland balanced between East and West, Finnish shipbuilders secured high-paying Soviet orders with favorable payment terms and partly insulated themselves from the market downturn of the 1970s and 1980s. With the help [End Page 280] of Finnish politicians, including President Urho Kekkonen, they engaged in long, drawn-out Soviet contract negotiations—which differed considerably from normal yard contracting—and Finnish-Soviet technological cooperation. The USSR paid for ships via a special clearing mechanism, effectively paying for them with raw materials, including oil. Finnish shipbuilders had a strong niche focus on highly complex vessel types. Although Matala does not provide any quantitative estimates of price differentials for "newbuilding" prices for the Soviet and Western ship markets, she convincingly shows how Soviet ship demand enabled Finns to build up technological strongholds in niches: even a poor Soviet Union was rich enough to buy sophisticated, Finnish icebreakers. In the late 1980s, the Finns turned to Europe in response to the disintegration of the USSR. Although Finnish politicians claimed not to subsidize shipbuilders, Matala shows how the Finnish government provided strong support, including attractive ship-finance schemes, direct market interventions to secure ferry orders, and reconstruction support in connection with the major Wärtsilä shipyard bankruptcy in 1989. Eventually, Finland harmonized shipbuilding subsidy policies with the EU as it joined the union in 1994 and became "a normal European country" (p. 191). Matala has undertaken comprehensive archival studies in Finnish shipyards, the Ministry of Foreign Affairs, and the presidential archives, supplemented with interviews with former yard managers and U.S. archival material. She did not consult Russian archives but points out their relevance for future research. My only main critique concerns the theoretical framework. Matala applies the lens of a techno-economic system, but she never explicitly...

ТЕОРЕТИЧНІ АСПЕКТИ ОБҐРУНТУВАННЯ СУТНОСТІ КРЕДИТНОЇ ПОСЛУГИ ТА ОСОБЛИВОСТІ ЇЇ НАДАННЯ ФІНАНСОВИМИ УСТАНОВАМИ

The article is devoted to the conceptual and practical foundations of the study of the peculiarities of the provision of credit services by financial institutions. In the process of researching conceptual approaches to revealing the essence of the "service" and "credit" categories, a systematization of sepa-rate scientific approaches to their interpretation was carried out, which made it possible to specify the meaning of "credit service" as an economic category. Based on the generalization of existing ap-proaches, the author's interpretation of the "credit service" category is proposed as an intangible result of interaction between borrowers and financial institutions regarding the provision of financial re-sources for temporary use under certain conditions. The necessity of distinguishing the system of prin-ciples of providing credit services, including: payment, term,return, intended use and provision, has been proved. Meaningful features of credit services have been singled out, among which the following deserve special attention: availability of agreed payment terms; fee for use of funds; availability of the borrower's credit rating; trust, state control and regulation of the market, availability of collateral. On the basis of the study of the main concepts of their interpretation, the scientists proposed to consider the credit service as an intangible result of theinteraction between borrowers and financial institutions regarding the provision of financial resources for temporary use under certain conditions and taking into account the following principles of the implementation of such a service: payment, term, return, target use and security.Attention is focused on the importance of the functioning of intermediaries in the process of con-sumer lending, who carry out an initial check of the client's documents, fill out his loan application and send it to several banks at once and, subject to a positive decision of the bank, issue a loan. The existence of a leading role of financial institutions in ensuring expanded reproduction of the real sector of the economy, formation of the financial potential of the national economy is substantiated.

Financial Methods for Equating with Some Categories of the Organization’s Obligations to its Own Funds

The implementation of financial and analytical procedures is an important stage of making appropriate management decisions in the implementation of economic activities. During the financial analysis of the organization’s activities can determine such indicators as the level of financial stability, solvency, liquidity of the company, its market value and other important indicators, without knowledge of which it is difficult to make adequate and effective management decisions. The purpose of the study is to determine the financial instruments of equating certain categories of an organization’s liabilities to its own funds within the framework of financial and analytical procedures. During the research, the author used such methods as content analysis of sources, analysis, synthesis, generalization, scientific abstraction, analogy. The author shows that the interpretation of the concept of «obligation» from the point of view of various areas of economic science (accounting, audit, taxation, valuation, financial analysis, etc.) can have different meanings. The author analyzed a number of normative legal acts and the practice of applying retraining (equating) obligations to own funds. As a possibility of equating obligations, the author considers subordinated borrowed funds; long-term borrowed funds and long-term accounts payable; minimum regulatory accounts payable arising as a result of a gap in the terms of accrual and payment (fixed liabilities); debt and accounts payable to affiliated entities; certain elements of deferred income; certain elements of reserves future expenses and other equated to own funds of obligations. It is concluded that individual liabilities, considered by accounting science and jurisprudence as liabilities, from a financial point of view (in certain situations, taking into account the relevant goals and objectives of financial analytical procedures), can be equated to the organization’s own funds.

INCLUSIVENESS OF PAYMENT FOR WORK AT THE CONSTRUCTION ENTERPRISE

The world has long had certain ideas about the level of economic development. World trends represent economic development in the form of a growing curve of certain economic indicators. After all, they make it possible to analyze positive developments and show the corresponding changes in real numbers. However, such an approach shows us only the general picture, which is distorted by the lack of in-depth analysis of the growing globalization processes and integration ties in the modern world. Globalization creates many new challenges and contradictions for the modern economy, which cannot be overcome only by positive changes in economic indicators. The problems caused by globalization processes include the increase of gaps between different layers of the population, the reduction and depletion of resource capacities, the exacerbation of social misunderstandings and conflicts, and the emergence of the impossibility of satisfying the needs of each person in full. All this has its effect on the reduction of economic activity in the future. 
 The importance of these problems is increasing due to their all-encompassing nature for the population. Therefore, scientists today need to create an updated concept of economic development, which will make it possible to make an in-depth assessment of external and internal factors of development and, based on this, to build a policy aimed at the entire population. First of all, it means giving equal access to everyone to provide themselves with social and economic benefits through the opportunity to receive a fair and decent wage. An updated concept that will be aimed at equality and will correspond to an improved model of labor remuneration can become a model of inclusive development. 
 A key element of the model of inclusive development is a person who can satisfy his needs by realizing himself in society and satisfying the needs of others by applying his realized potential. And the concept of an inclusive economy is aimed at creating conditions necessary for people, which will allow everyone to develop and realize themselves in the conditions of globalization changes. 
 The problem of inclusivity in the payment of labor is currently quite widespread in construction enterprises. After all, this field will require the maximum involvement of the workforce in the war and post-war periods, and the fact that a large number of employers and workers do not understand the terms of payment and the legal framework, in general, can become an obstacle to effective work. In this connection, there are certain difficulties regarding the quality functioning of the economy, which lead to the absence of ways to improve wages and the impossibility of studying and considering further prospects. To analyze in detail the problems of remuneration in the construction enterprise, it is necessary to note the positive and negative aspects of the inclusiveness of remuneration.

ACCOUNTING, REGULATORY AND LEGAL ASPECTS OF CHARITABLE DONATIONS BY BUSINESS ENTITIES FOR THE ARMED FORCES OF UKRAINE

In the article, a study of the regulatory and legal support of the activities of charitable organizations and support by business entities of the Armed Forces of Ukraine is carried out. Problematic aspects of accounting and taxation of charitable assistance provided by business entities for the needs of the army are presented and the relevance of solving this methodological issue is substantiated. In particular, it is determined that different terms are used in legislation and scientific literature to describe charity. Forms and types of charitable activity in Ukraine were studied. Attempts have been made to distinguish between these concepts. The forms of charity (volunteer, humanitarian, philanthropic) are characterized and the types (charitable donation, charitable grants, public collection of charitable donations, charitable servitudes and charitable endowments) and methods of their giving are substantiated. The characteristic features of charitable assistance are determined: voluntary, selfless, purposeful. The need to regulate certain provisions and define terms in the field of charitable activities was confirmed, and amendments to the current legislation were proposed. The rating of charity in Ukraine was studied and the distribution of costs by spheres of its provision was presented. It was found that according to Ukrainian legislation, charitable assistance to the army is provided in the form of charitable donations and can be provided both in cash and in kind, in particular from charitable organizations, legal entities and individuals, and territorial communities. It has been proven that properly organized accounting of charitable donations will ensure the control of the intended use of the donated property and reduce abuses in this area, as well as affect the possibility of applying tax benefits in the terms of payment of value added tax, excise duty and income tax. The procedure for documenting charitable donations for the benefit of the army and the need to form an Act of acceptance and transfer of humanitarian (charitable) aid are substantiated. The changes made to the Tax Code of Ukraine regarding the taxation of charitable aid given to the army were considered. Taking into account the specifics of the research, a method of accounting for charitable assistance for various options for its provision (voluntary transfer or alienation of property) is proposed.

Фіскально-регулююча роль рентної плати в Україні

Resource rent taxation is an instrument of state regulation designed to stimulate natural resource users to minimize the loss of natural resources during their extraction and involvement in economic circulation, to ensure their rational use. Together with the performance of the regulatory function, resource rent taxation should be a significant source of income for the state budget. The purpose of the article is to highlight the current problems of resource rent taxation in Ukraine from the standpoint of its fiscal and regulatory role, to formulate proposals of an applied nature regarding the improvement of taxation of natural resources in the conditions of the intensification of European integration and martial law. The following general scientific and special methods were used in the research process: logical analysis, synthesis, expert evaluation, description, comparison, theoretical generalization and abstract-logical. The current state of distribution of resource rent taxation to state and local budgets is highlighted. It is also revealed that the State Budget of Ukraine accumulates the main part of resource rent taxation. The fiscal role of the resource rent taxation in the revenues of the Consolidated Budget of Ukraine in general and in terms of individual payments, in particular, is analyzed. It has been proven that the resource rent taxation remains one of the few mandatory payments that increase revenues and ensure the fulfillment of planned indicators. The main changes in the mechanism of accrual and payment of resource rent taxation in Ukraine are highlighted. It was established that resource rent taxation does not ensure rational use of natural resources. It was concluded that the reform of resource rent taxation should be based on the differentiation of rates depending on the objects of taxation, taking into account objective assessments of the productivity of sources of natural resources. At the same time, it is necessary to focus on ensuring optimal profitability indicators of economic entities that use natural resources, especially in strategically important areas, such as gas or oil production.

Legal Understanding of Management Decisions in Hydrocarbons Cross-Border Marine Shipping: Digital Hedging Technologies

The paper examines one of the areas of law application that is methodologically based on an individualized approach to the norms of law with their subsequent broad interpretation in relation to specific legal situations. Similarly, the vector of rule-making is determined in relation to the transportation of crude oil and its refined products entirely by sea. The work not only reflects the basic doctrines of legal understanding, but also presents an assessment of their law enforcement potential, the ability to influence the formation of sectoral, intersectoral institutions of law. The author examines financial intermediation and hedging that performs the same dealer functions, but with much lower costs than classical banking institutions. Implementation of the institution of a derivative credit instrument in law enforcement practice is of particular interest to the author. The paper considers such a phenomenon as confrontation between natural and positive law in the context of entrepreneurial activity. Transportation of petroleum products’ tenders is considered as a compensated use of property. The positivist legal understanding is seen by the author as no less important. The paper explains to what extent it can serve as a basis for making management decisions concerning market risks, risks of changes in portfolios of financial instruments, risks of probable losses.Transactions with a digital asset quite reasonably belong to the field of hedging, if there is a causal relationship between the types of the underlying asset and the hedging strategy, using digital examples. Connecting factors to the law of the payment currency, terms and amounts of payments are considered both in line with hedging strategies and utilitarially in the context of making a record of the rights’ transfer. The author draws a conclusion concerning the purpose of short and long positions of net assets hedged against margin trading limits if the security of an oil transportation transaction is found to be insufficient. Merchants receive borrowed capital secured by their own assets.Management solutions ensure the sequence of identification of all relevant risks, facilitate attracting exclusively licensed counterparties for the formation of loan coverage, regularly replenishing the reserves of liquid funds when conducting transactions with virtual currencies and other impersonal (in personal terms) assets. With management decisions being considered as one of the measures of value, hedging is similar to a loan agreement, since they have a common goal — to gain mandatory tranche for the derivative financial instruments that invariably maintain a high level of liquidity and volatility.

Rethinking Indebtedness according to the Principles of Justice and Equality

The law's objective is to uphold the principle of justice. Contractual debts, interest-bearing debts, unsecured debts, and debts with payment terms are all included in restructuring plans. All debts must be accompanied by a contract. If the business defaults, the contract serves as proof of debt. This research focuses on Indonesia's bankruptcy law. This study employs an empirical qualitative legal method. The study recommends categorizing debt according to its source, duration, function, and collateral. Debts classified as restructuring must waive their collateral rights. This debt grouping is consistent with finance's capital structure theory. This research will revolutionize the current concept of debt restructuring. The study will serve as a resource for all business actors who have documented debt. Debt is uncommon in developing countries such as Indonesia. Entrepreneurs in developing countries have established business relationships based on mutual trust. The study's limitation is that it does not take industry type into account. Additionally, this research has implications for a firm's total cost of capital as a result of changes in the risk model and creditor roles, particularly in developing countries. This study proposes a system of debt classification based on principles of justice and equity. This classification is made not only on the basis of the guarantee's type, but also on the basis of the agreement's duration and financial principles. The purpose of this study is to examine bankruptcy law in developing countries. Knowledge of bankruptcy law will add value to investors and banks on a global scale.

CLIENTS' PREFERENCE FOR LOW-COST RESIDENTIAL PROPERTIES: A CONJOINT ANALYSIS

<p>The purpose of this study was to determine the clients’ preference for residential property in Digos City in the southern part of the Philippines. Through the examination of the five attributes (location, equity, terms of payment, floor area, and the price) and their corresponding levels using conjoint analysis, the order of relative importance of each attribute was determined together with the utility estimates to determine the client’s preference for a low-cost residential property. Twenty plancards containing hypothetical combinations were generated via an orthogonal array and were administered to 400 medium-income individuals. Results revealed that price is the most important attribute, followed by location, terms of payment, and floor area, while equity was found the least important attribute. It can also be inferred that the overall sample preferred low-cost housing near the school, outright or staggered payment for the equity, payable in 20 years with a floor area of 45 sqm (single-detached) in a 100 sqm lot and with a price of Php 500,000. The most preferred low-cost residential property is a combination of the following attribute levels: near the school of children, staggered payment for equity, with terms of payment payable in 10 years, with a floor area of 45 sqm (single-detached) in a 100 sqm lot and can be bought for Php 500,000.<strong></strong></p><p> </p><p><strong>JEL: </strong>R30; R31</p><p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0269/a.php" alt="Hit counter" /></p>

On the issue of influence factors in the oilfield services business

Relevance. In today`s highly turbulent business environment, economic development of the oilfield services industry is under the influence of many multidirectional factors, most of which simultaneously affect the progress of the Russian oil and gas industry. Accordingly, there is a need for continuous monitoring and analysis of events in order to identify such factors in a timely manner and correctly account for their impact on the production activities of companies that make up the oilfield services companies. The purpose of this research is to solve the problem of identifying, scientific analysis and objective assessment of the influence of external and internal environmental factors on the formation and functional of the adaptive business model of the oilfield services company, including the development of a long-term development strategy on a basis of alternative scenario taking account the industry features of the oilfield service and the development of a science and practical methodological approach to building a system of accounting for industry factors to neutralize possible negative situations in the future. Results. A system of factors influencing the formation and development of a business model of an oilfield services company, classified by the scale of influence, quantitative assessment of the duration and effectiveness of influence, as well as divided into groups of external and internal factors, has been developed. General and specific, measurable and non-measurable, objective and subjective, constant and variable factors are highlighted. To asses and rank the factors influencing the formation and development of the business model of an oilfield services company, a comprehensive calculation of the influence indicator is proposed, taking into account the above parameters and the degree of certainty or uncertainty of their influence on the basis of a 3-point evaluation scale according to the selected criteria. The results of the approbation of the proposed approach to the assessment of factors in the context of 3 main segments of the oilfield services business are represented: well drilling, current and major repairs, geophysical exploration. Conclusion. The key internal factors determine the structure the oilfield services market, the terms of payment for service contracts, digitalization and the technologies used, the state of the production infrastructure, personnel quality and occupational safety. The most significant external factors are the state of the global energy market, structure and trends of the world economy, social aspects, foreign policy situation, the state as a participant of the market. It is confirmed that when forming promising development strategies of the oilfield services company, analysis, assessment and correct accounting of external and specific internal factors of influence for forecasting possible risks of production activities can minimize or completely avoid negative consequences in the event of adverse situations.

A Truthful Mechanism for Multibase Station Resource Allocation in Metaverse Digital Twin Framework

The concept of the metaverse has gained increasing attention in recent years, and the development of various new technologies, including digital twin technology, has made it possible to see the metaverse coming to pass. Many academics have begun to investigate various problems after realizing the importance of digital twin technology in building the metaverse. However, when utilizing digital twin technology to construct a metaverse, there remains limited research on how to allocate multibase station resources. This research translates a multibase station wireless resource allocation problem into an integer linear programming constraint model when virtual service providers construct a metaverse. In addition, the optimal VCG reverse auction (OPT-VCGRA) mechanism is designed to maximize social welfare and solve the problem of IoT devices competing for base station wireless resources. Specifically, the problem of the optimal allocation of wireless channel resources and payment rule based on the Vickrey–Clarke–Groves mechanism is solved to achieve optimal allocation and calculation of payment prices. Since the optimal allocation problem is NP-hard, this paper also designs a metaverse digital twin resource allocation and pricing (MDTRAP) mechanism based on monotonic allocation and key value theory. The mechanism sends the resource allocation results of multiple base stations to IoT devices and calculates the price payment when building a metaverse in the real world. This paper shows that both auction mechanisms have incentive compatibility and individual rationality properties. Through experiments, this paper compares the two mechanisms in terms of social welfare, the number of winners, and the overall payment. The MDTRAP mechanism performs similarly to the OPT-VCGRA mechanism in terms of social welfare, the number of winners, and channel utilization but is far superior to the OPT-VCGRA mechanism in terms of execution time and total payment. The trustful experiment also verified the truthfulness of the MDTRAP mechanism. The experimental results show that the MDTRAP mechanism can be used to solve the resource allocation problem of multiple base stations to IoT devices when building a metaverse in the real world and can effectively maximize social welfare.

ACCELERATION OF FINANCIAL TECHNOLOGY GROWTH IN ISLAMIC BANKS AS AN EXISTENCE EFFORT TO FACE THE PANDEMIC OF COVID-19

Financial Technology or what is familiarly called fintech is a platform that combines technology and finance into a technology-based financial business that makes it easier for customers so that there is no need for face-to-face transactions. Financial technology is currently trending in Indonesia, especially after the peak of the COVID-19 pandemic that occurred throughout 2020-2021, not only in banking but has begun to spread stand-alone financial technology in terms of payments and peer to peer landing. All technology-based financial institutions compete with each other, Islamic banking institutions in Indonesia, marked by the merger of three Islamic banks into one big force, namely Bank Syariah Indonesia which has optimized digital-based products to maximize the profitability of their companies. The purpose of this study is to find out the tips of Islamic Banking, especially Indonesian Islamic Banks in maximizing the profitability of their companies with fintech.

Effects of Market Approach to the Valuation on the Financial Performance of Real Estate Investments in the Western Region, Kenya

The main aim of this study was to examine the effect of the market approach to the valuation on the financial performance of real estate management investments in Western region, Kenya. The study was guided by Market Efficient Theory. The study employed a correlational research design. The target population of the study consisted of 52 registered real estate agents within the western Kenya region. The study adopted a census technique to gather all the required data from the existing population. Primary data were collected through structured questionnaires, and secondary data schedules were used to gather secondary data for analysis. Pretesting of survey instruments was conducted as an effort to ensure that there was both content validity and reliability. Both descriptive and inferential statistics were employed for data analysis. From the study results, market-based explained 57.2% (R2=0.572, p=0.000) of variance in the financial performance of real estate investments. The regression coefficient revealed (β=1.019, P=0.000), implying that a unit increase in the market-based valuation approach would significantly increase the financial performance by 1.019 units. Therefore, the null hypothesis was rejected. The study, therefore, concluded that market-based valuation influences the financial performance of real estate management investments in Western Kenya. The study recommended that evaluators should take caution while employing a market approach as either a primary or secondary approach to valuing a business. One of the notable issues with the market approach is that price may not always be a good indicator of value. Price may be influenced by uneven negotiating skills, the difference in information available, the compulsion to act, payment terms, and financial strengths.

Study Regarding Certain Convergences and Divergences in the Communication Between Public Institutions and the Private Environment with Regard to the Tax Obligations and Statements

The fiscal system issue is complex and thorny due to its strong interference with the accounting in our country. At the same time, the volatility of regulations, the ambiguity or the plurivalence of many of them transform the fiscal system in an always hot issue in the context of the company’s life. The article hereby aims to bring up certain convergences and divergences in the communication between the representatives of the legal persons, who submit the tax statements and pay the tax obligations, on the one hand, and the public institutions representatives, who take over those statements and collect the budgetary receivables, on the other hand. The study addresses the key points within this networking, like the clarity of the message in the bilateral communication, the utility of virtual communication, as an officially recognized form, the cultivation and respect of professional ethics principles and, last but not least, the compliance with deadlines or the payment terms of the tax obligations or of collecting the budgetary receivables and, respectively, of retrieving some amounts from the state or of returning them. We consider that the questionnaire method, based on survey, augurs well in this respect, the answers being subsequently processed by means of the SPSS application.

Negotiating win-win payment terms between construction contractors and subcontractors

Outsourcing works to subcontractors has been a common practice in the construction industry. Because of the high competition in this industry, contractors always seek opportunities to reduce bid prices. This paper presents a process of negotiating win-win payment terms wherein the contractor offers shorter payment lags and in return solicits subsidized prices from subcontractors. Subsidized prices enhance the contractor's bid competitiveness while prompt payments reduce the subcontractors' financing costs. This provision, referred to here as “pay-before-paid”, represents a paradigm shift as opposed to the industry prevailing provision of “pay-when-paid”. A Genetic Algorithm (GA) model is proposed to assign project work packages to subcontractors based on the subsidized prices offered for contractor's predefined payment-lag options to minimize the contractor's bid price. Benchmarking the GA against the exhaustive enumeration proved the robustness of the GA. In addition, the scalability of the GA model was established by solving large-size problems.

Pemanfaatan Teknologi Tepat Guna Tenaga Surya Dalam Mengelola Air Bersih Sebagai Upaya Pemberdayaan Masyarakat Desa Samaenre Kabupaten Bone

This service activity aims to empower the community through appropriate technology in managing clean water to make it easier for the people of Samaenre Village to obtain clean water at a low cost. The method of carrying out this devotion used Participatory Rural Appraisal through discussion, mentoring, compiling product quality standards, designing production processes, and developing marketing strategies through marketing research results. The result of service showed that the community got relief in terms of payment of clean water tariff, where previously, each cubic was valued at 3000 rupiahs. With the presence of solar system panels, it could reduce costs to 2000 rupiahs per cubic. Meanwhile, from the management, in this case, Bumdes Samaenre could also save production costs because it no longer used generator power or PLN electricity with a reasonably high load rate and was not worried about frequent lights out.

Assessing Service Quality and Customer Satisfaction of Electric Utility Provider’s Online Payment System during the COVID-19 Pandemic: A Structural Modeling Approach

The COVID-19 pandemic has rapidly changed people’s lives, especially technological advancements. Most service industries have opted to adopt online payments since the pandemic happened. Electric utility companies are one of the major industries that utilize online payments as an alternative mode of payment to traditional cash payments to minimize person-to-person contact. The current study aimed to assess electric utility companies’ service quality and customer satisfaction to improve the payment system. The study was conducted in Occidental Mindoro Electric Cooperative, Inc. (OMECO), which utilized an online payment system due to COVID-19-protocol. The research model comprises 60 questionnaires with ten sections developed from the literature and distributed to 400 participants. The data were analyzed using the structural equation modeling and path analysis technique. The results showed that Online Payment Security had the most positive effect on service quality, thus affecting customer satisfaction. Moreover, tangibility, reliability, online payment method, and COVID-19-protocol positively affected service quality. While reliability, assurance, and empathy had a negative effect on the service quality of OMECO. Aligning with the result, OMECO was poorly evaluated by the participants in terms of empathy, assurance, responsiveness, and reliability. Moreover, the result of the study can be used by major electric companies to improve their service in terms of online payment. Finally, the current research is one of the first studies that integrate service quality and customer satisfaction while utilizing the structural modeling approach.

Delaying supplier payments to increase buyer profits

AbstractAs a means of acquiring trade credit, delaying supplier payments by extending payables (days to payment) offer financial benefits for buyers. However, such extensions may also engender costly supplier retaliation that results in operational disruptions and financial loss. Terms of payment between buyers and suppliers often affect the relationships established between trade partners; thus, changes to these terms should be evaluated within a social context. Social exchange theory (SET) is applied to analyze the benefits and costs of abrupt payable extensions on buyers' operational outcomes and profitability. The findings indicate that buyers who delay supplier payables by abruptly lengthening payables tend to subsequently increase investments in accounts receivable, inventory, and capital expenditures. Contrary to popular expectations, however, these buyers financially underperform when compared with similar (matched) firms that do not raise payables. Further analysis indicates that these buyers also experience greater supplier turnover and increases in indirect costs. These results are consistent with the expectation of retaliatory supplier responses to payable extensions. It is also revealed that the detrimental effects of delaying supplier payments by payable extensions are significantly smaller for more powerful and financially stronger firms. However, the relationships between payable extensions and capital‐based benefits do not appear to be contingent on buyer power or financial strength. This study extends SET by applying it as a lens through which researchers can examine shifts in trade credit terms. The findings suggest a broadened scope of factors to be considered in social exchange and offer new operationalizations of power and trust factors often addressed in SET studies. The study ends with a discussion of the implications of these findings for practice and future research.

Changing Consumer Spending Pattern during pandemic with Special Reference to Digitals Payments

Abstract: The demonetization has resulted the consumers to use the digital payment which was motivated by digital India campaign by the government of India .The Digi locker is a place where you can store your documents .The massive outbreak of the covid-19 has resulted the consumers to use the different digital payment methods available in the market. The purpose of this research is to know the spending pattern of the consumer in terms of digital payments. The research works was carried out with 172 respondents and the convenience sampling technique was adopted to collect the data. The structured questionnaire was used to collect the data. Based on the findings the suitable recommendations were made by the researchers.