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A Study on the helpful systems of Contract Performance to the Act which the State is a party in Korea

  • DONG-A LAW REVIEW
  • 2011, (52), pp.659-679
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

Kye, Seung-Kyoon 1

1부산대학교

Accredited

ABSTRACT

According to the Korean Civil Law, the contract parties concerned are the mutually equal position, and they shall perform the contents of a contract in accordance with the principle of faith and trust. However, because of the public character of, or public interests of government contract, there are some useful systems to help the performance of the other party: Advance Payment, Paying for the cost for the completed parts or supplied parts, Adjustment of Contract Amount due to Price Fluctuations etc., Direct Payment to the sub-Contractor. Advance Payment is that the head of each central government agency or the public official in charge of contracts can pay the other party to the contract the price in advance in order to contribute to the performance of the other party. The head of each central government agency or the public official in charge of contracts can pay for the cost for the completed parts or supplied parts, even though the other party did not fulfill the contract completely. It can be called payment for the cost for the completed parts or supplied parts. If it is necessary to adjust the contract amount due to price fluctuation, design modifications, or other modifications to the contents of the contract, after concluding the contract for construction work, manufacture, service, etc. which becomes a burden on the national treasure, the head of each central government agency or the public official in charge of contracts shall adjust the contract amount pursuant to the provisions of the Presidential Decree. The head of each central government agency or the public official in charge of contracts can pay the price to the subcontractor in order to protect the subcontractor, even though the contract is not concluded directly between two parties.

Citation status

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