contract

One of the most important applications of blockchain technology is smart contracts. Smart contracts carry out transactions and processes in a completely guaranteed way and without the involvement of third parties. The current research seeks to identify and analyze the drivers affecting the future of smart contracts in the banking industry. The present study is applied in terms of orientation and has a quantitative nature in terms of methodology. In this research, two fuzzy Delphi and Marcos techniques were used for data analysis. In the first stage, 37 drivers were obtained through literature review and interviews with banking experts. These drivers were screened in the next stage by distributing expert questionnaires and fuzzy Delphi technique. 10 drivers were selected for final ranking with Marcos technique. Screened drivers were prioritized by distributing priority questionnaires and Marcos technique. Based on the scores of the Marcos method and taking into account the three indicators of experts' expertise, the intensity of importance and the degree of certainty, the drivers of the level of coordination and integration of the country's banks in accepting new technologies and contracts, the level of integration of information systems in the banking industry, regulatory policies in the country and the type of interaction of banks with fintechs and financial startups respectively having the highest priority in terms of influencing the future of smart contracts in the banking industry.  Practical proposals were developed based on the most prioritized drivers. Carrying out joint research and development projects by the country's banks, paying attention to the compatibility of blockchain technology and smart contracts with other modern banking technologies, comprehensive regulatory policies with the presence of all stakeholders, and the strategic cooperation and partnership of banks with fintechs were among the main suggestions of the research.

Capital markets which constitute one of most important financial mechanisms of every economy are composed of both private and public dimensions. On the one hand, these markets are private in the sense that private individuals in society can actively engage in trade on them, and on the other, they have a public dimension since they directly affect the overall economic order. The public aspect of these markets, because of its reliance on contracting mechanisms in general, and capital market contracts in particular, brings public security concerns in this field to the fore. The interventions of successive governments in the capital market, privatization policies, financial crises, sanctions as well as, the growing economic knowledge among various social strata, has added new dimensions to the traditional concept of security to include such things as economic security, Legal security, judicial security, etc. The aim of the present study is to present an efficient contracting model for capital markets that is effective in maintaining and promoting economic security. The methodology of the paper proceeds in three stages. It first uses the Meta Composition Method to identify the variables influencing capital market contracts. Subsequently, it draws on the Content Analysis Method to identify the variables that affect the development and maintenance of economic security and presents them via Structural Equations to obtain a quantitative model. Finally, it utilizes the Interpretive Structural Modeling Method to develop a model of the variables influencing capital market contracts, in terms of its development and the maintenance of economic security. The quantitative data was gathered was through interviews with managers and experts with experience in the field of capital market. Based on the results obtained, components such as organizational factors, economic factors, and innovation influence capital market contracts. Furthermore, these three components, in addition to having a mutual effect on one another, are influenced by governance.

Unfair terms are one of the most debatable issues in terms of contract terms that upset the contractual balance, and in today's world, the expansion of contracts in which one of the parties, due to its superior position, includes conditions in the contract that the other party The contract is fair, it is increasing. In the meantime, banks, due to the financial resources at their disposal, mainly include conditions in contracts with customers that seemingly follow the principle of correctness and are concluded based on correct contractual principles, but inwardly are considered as a kind of imposed conditions. The customer, based on his economic needs, will inevitably accept these unfair conditions. Money and credit are in conflict with the health and growth of the country's economy. The end result of the acceptance of these conditions by the parties to the contracts will be the violation of the principle of justice and the creation of mistrust between the bank and its customers and economic actors, and finally, corruption in the monetary and banking system. Given the importance of this issue, in this article, while examining the concept and principles of unfair terms, we will examine the examples of these terms in banking contracts and provide solutions to improve and exit the current situation of banking contracts.

One of  success factors of public-private partnership contracts is the effective public supervision on their implementation, including standards to be observed by the private party to the partnership. In other words, a key element in using private sector’s potential is defining activity standards and precise supervision of their implementation. In this research we identify the factors that impact effectiveness of government’s supervision of public-private partnership contract, in addition to studying the principles and foundation of this supervision.  To this end, we first spcify our research goal, method and scope and then define the concept of optimum supervision and control. We analyze the role played by the government or public entity in BOT (build-operate-transfer) agreements. In the following section, we analyze contract management and method of supervision in public-private partnership. After defining the statistical population, statistical sample, and method of data analysis methods, we proceed to test our hypotheses. The results of quantitative data analysis and tests performed would be discussed in the next sections.  We will then proceed to analyze the results of our sudy,  Our research provides valuable insights on factors that impact government’s supervision and provides some suggestions for improving it.

As the first link between the host governments and oil companies, oil contracts arrangements have an important role to risk sharing between contract parties. In this regard, the main objective of this study is to provide a comparative evaluation of the risk factor (Cost Risk, Price Risk, Production Risk) of National Iranian Oil Company (NIOC) in Buy-Back (BB), Production Sharing Contract (PSC), and Iranian Petroleum Contract (IPC), and choosing the best contract based on the risk factor. Based on the results of the Wilcoxon Ranking Test, the average of the NPV of the NIOC in the IPC is more than the other types of contracts. However, the NPV in the IPC does not significantly differ from BB. Other findings revealed that the most risk of rising costs to the NIOC is related to the BB, IPC, and PSC, respectively. In addition, the most risk associated with a reduction in oil production is related to BB, IPC, and PSC, respectively. the most risk associated with the oil price reduction for the NIOC related to the IPC same as BB contracts that greater than PSC.

Islam emphasizes all social issues, especially healthy economic relations. What has led to the need to examine and address the issues of contracts in Islam and the contracts of support in Islamic banking, is the existence of various contracts in the society. In this research, it is tried to examine the compatibility of the contracts of support in Islamic banking with the contractual and religious principles recommended in Islam, after defining and clarifying the contracts and principles in the verses of the Holy Quran and explaining its nature. Identifying types of contracts, examining the foundations of legitimacy and clarifying their pillars and effects in support contracts in Islamic banking, and observing all aspects of it in current affairs of the bank have been done. The main question of the present research is to what extent Bank Shahr support contracts comply with the provisions of the recommendations and orders in Islamic contracts. In this regard, five types of contracts used to support Bank Shahr have been investigated in order to comply with the recommended conditions in the Quranic verses of the Holy Quran. The research method in this study is integrated content analysis. The research findings showed that in three types of banking contracts -purchase of items, design, procurement and commissioning of equipment, service and maintenance of equipment-, up to 82% of compliance and in two types of contracts - assignment of interests and the right to exploit land and lease property-, there is up to 91% compliance with Islamic conditions and recommendations for contracting.

Today, there are many types of contracts in the world. However, Managers and other experts don’t know enough about those of contracts attributes and, maybe, they face many problems in adjusting the working relationship. On the other hand, it seems that there are very few studies regarding this issue due to the fact that contracting is an interdisciplinary approach. Hence, this paper assumes the standard problem of Transaction Cost Economics as the basis of the analysis and by classifing constructual contracts into the two groups of build or buy, attemps to analyse the structure of both groups. This paper by dividing Contractual Relationships into two groups has made use of some cases from Iranian oil industry. This approach is interdisciplinary and it is shown that an improved understanding of the concepts can help managers and other decision makers to arrive at more efficient decisions.

National Iranian Oil Company (NIOC) is one of the most important Iranian Institutions that its survey is very crucial. In This Respect، Survey of NIOC’s decisions to vertically integrate into the contract of upstream development plans with use of Transaction Cost Economics (TCE) view is important. In this article، to achieve explaining complexity contractual relations between NIOC and its contractors، buy back contracts and other contracts equal buy and make have been considered respectively. In first Step، The results relatively support TCE’s hypothesis as determinants of organizational form. For the main purpose of this article، Econometrics models are estimated the transactions cost functions of competing organizational options. Estimation of those functions apply isolation of the effects of transaction attributes to each form of organization، it means make or buy، which is used for knowing about the relative impacts of hazards of exchange and internal costs. Estimation of those costs functions profitable for estimate of the transactions costs and incentive gains of outsourcing. The concept and nature of cost has been discussed in the beginning of the paper.

This paper deals with the process of developments in upstream oil and gas contracts during 1979-1991 and 1992-2013. We will understand that any type of conventional contracts had not been concluded during 1979-1991 but in the latter period, three generations of Iranian service contracts named, “Buy-Back Contracts” have been designed and implemented. Due to the necessity of designing new upstream contracts we intend to analyze that which of the conventional upstream contracts are compatible with the current sovereignty laws of oil and gas industry? Regarding the dominant regulations on this sector, what are the concerns and proposal framework of experts about the new contracts? Finally, it seems that the dominant legal requirements on oil and gas upstream sector with the principles of Buy-Back contracts are more convenient than other types of conventional contracts. Of course, the new contracts regarding the current legal capabilities, should be both the ability of answering to concerns of critics as well as suitable flexibility in terms of oil and gas fields of the country.

Bank guarantee letter is a written promise issued by a bank to pay a definite or definable sum of money to the beneficiary in the event that the obligor fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract. Although bank guarantee letter is a modern mechanism for facilitating and accelerating the economic activities, its jurisprudential and juridical aspects have not been paid enough attention, as it is a modern phenomenon. In this paper, using the documentary and descriptive-analytical method, we have tried to answer the fundamental question of its capability of being adapted to the Islamic jurisprudence and law. There is nearly no disagreement between Muslim jurisprudents about the permissibility of using bank guarantee letters, but there are some disagreements between them in regard to their nature and therefore their conditions and consequences. As regards to the issue of their legitimacy, the jurisprudents have adduced such theories as Daman, Kafalah, the contract of independency of bank guarantee letters, obligation to third party and so on. Given the lack of absolute consistency between the conditions and elements of guarantee letters, on the one hand, and those of such contracts as Wakalah, Daman and Kafalah, on the other hand, it seems that the contract of independency is more likely to be the proper theory.