Academic literature on the topic 'Contracting entity'

Summary Though the preferential wiring clause did not apply to an independant contractor, the union could not put him off the job, the matter beeing one which should have been dealt with accordingly under the grievance procedure clause. The union a legal entity, by the use of illegal means, caused damage to the respondent and is liable in damages for its wrongful acts, through the act of the union was not done in connection with a trade dispute.

The scope of tasks entrusted to the servicing units, the so-called shared services centres, as part of the joint service results from the resolution of the decision-making body of the local government unit or from an agreement concluded between units, with restrictions resulting from the local government laws. By means of a special provision of the public procurement law, the legislator granted the competence to indicate or appoint an entity performing central contracting tasks or to specify the method of appointing such entities to the decision-making body of the local government unit. The competences of the commune council also include determining the scope of activities of these entities in accordance with Art. 15c of the Public Procurement Law. The perspective of providing by the commune of the joint service of the commune’s organisational units may therefore include joint activities in the scope of the procurement procedures, but then it is necessary to apply both the provisions of the law on commune government and the public procurement law. The indication or appointment of a central contracting authority by the decision-making body of the local government unit must be the activity preceding the transfer of specific tasks in the field of public procurement to this entity.

Corporate scandals in the last decade have led to renewed focus by auditors and regulators on fraud, risk assessments, and governance reforms. Hernandez (2007) documents auditor perceived associations between risk indications or concerns on dimensions of management ethics and compensation, performance, governance and fraud across auditor risk assessments performed during the continuance stage of an audit at a ‘Big Four’ firm (from 2002 to 2004). Running three separate sets of ordinal regressions, this study notes that assessed risk of fraud, perceived corporate performance risks, and corporate governance risks are independently associated with each other, as well as positively affected by management ethics and integrity concerns perceived by auditors and the pressure and balance of financial and non-financial goal-setting targets in management compensation contracts. This suggests that managers and entities focused by ethics, values, and sustainable goals (lower integrity concerns, less profits pressure) may present themselves with lower audit risk and benefit investors, reducing contracting and agency risks, which may be by simultaneously associated with fraud, governance, and overall entity performance risks. I extend this result into a theoretical model where the entity and its customers, suppliers, regulators, and other stakeholders (‘Five Forces’) share corporate values, lowering audit (and entity contracting) risks, resulting in higher entity value

The article is devoted to the study of the phenomenon of the contracting system for the procurement of goods, work, and services for state and municipal needs. The author aims to determine the content of the contracting system as a legal category and its structure. In this context, the definitions of basic concepts in relation to the contracting system, such as a government contract, public procurement, and state needs are determined. Based on the analysis of the Russian Federation legislation and approaches established in domestic legal doctrine to the concept of the “contracting system”, the author reveals the substantive aspects of the legal phenomenon under investigation. The author concludes that the current structure of the contracting system is not optimal. The extension of the law on the contracting system to social relations, the essence and economic as well as legal content, which do not relate to its entity, the main principles, and objectives, has resulted in an ineffective legal impact on them. The author suggests changing the structure of participants of a contracting system on the basis of a specification of signs of the state (municipal) needs. It is proposed to exclude commercial organizations (the state and non-state forms of ownership) as entities which do not have state needs from the group of participants in the contracting system. State customers include budgetary and autonomous institutions. The author formulates proposals to amend current legislation on the contracting system to ensure the elimination of conflicts and contradictions in the legal regime regarding the purchases of goods, work, and services for the needs of the country’s defense and state security.

The terms governing the provision of supplies, services, or works by an economic operator to a governmental entity are set into a public contract that is signed, following a procurement process. This article explores whether the public administration can utilise smart contracts to incorporate the terms governing the provision of supplies, services, or works. The fundamental elements of a contract are assessed, in order to determine whether a smart contract can be considered as fulfilling these requirements. Following this assessment, the main hurdles to the use of smart contracting are examined and a possible solution proposed. The case for utilising smart contracting within the realm of public procurement is finally advocated.

The advent of mega LNG projects in Australia has encouraged the Australian contracting industry to establish partnerships with local or international peers to bolster capability and take advantage of larger work scopes to handle the contracting risks. The types of partnerships generally fall into three broad categories: Unincorporated joint ventures formed between partner companies, specifically to win and deliver a project. Each partner retains its individual entity and the relationship is finalised once the project is delivered. Incorporated joint ventures that take a long-term view to the partnership. The incorporated entity focuses on winning and delivering work on multiple projects, without a specific end date. Client contractor integration is the aligned relationships between clients and contractors to achieve delivery of optimal outcomes, thereby achieving mutual benefits. Clough’s history in partnering dates back to 1957, when Harold Clough started the company’s first joint venture with Christiani and Nielsen of Denmark. During a 55-year period, the company has delivered more than 130 projects in joint-venture or client contractor-integration arrangements. This rich history of partnering is used to explore the pros and cons of different partnering arrangements through a series of partnership case studies. Despite the relationship differences, there is a number of critical factors for successful partnerships, with the ultimate goal of adding value to the owner’s project. These factors, including focal interface points, financial and project management systems, and HSE unity and support, are explored using a case study about the BAM Clough Joint Venture, Clough’s most successful long-term partnership, which has been in place since 1964.

The value of company is a very broad concept. Its determination depends on many factors and valuer must take into account both internal and external factors which are affecting the company. In some cases, it is very difficult to decide which of the methods should be used so that the entire valuation is not unnecessarily overpriced for the contracting entity. Valuation also takes into account the resulting objective value. In the case where the choice of method is not determined by the legal act itself, consultation and agreement with the expert is necessary in order to clarify the state of the company and determine the reason for doing the valuation itself. Therefore, the main goal of this paper is to choose an appropriate valuation method for a forwarding company.

A study was conducted to identify the predominant factors that affect the achievable smoothness of asphalt overlays. The subject was approached from the perspective of a contracting entity (state highway agency). The basis of the study was a roughness survey that incorporated 4270 lane-km (2,650 lane-mi) and two full construction seasons with hot-mix asphalt concrete paving. Among the variables found to be related to the achievable smoothness were the functional classification (highway system), original surface roughness, and a special provision for smoothness. Variables that were found to be not significantly related to the smoothness achieved included surface mix type, the application of additional structural layers, the use of milling, and time-of-day restrictions on construction activities (i.e., nighttime paving).

This research was conducted at PT. Sumber Batu which is engaged in contracting. Activities carried out by the company, one of which is the purchase of spare parts on credit. The implementation of the accounting system for purchasing spare parts on credit has not yet fully carried out activities in accordance with internal controls. Data collection was carried out using interview and observation techniques. The analysis conducted was a qualitative descriptive analysis by analyzing and designing Flowcharts, Data Flow Diagrams (DFD), Entity Relationship Diagrams (ERD), and Normalization. Based on research that has been done, researchers can draw the conclusion that there is no duplication of functions applied to the procedure for purchasing spare parts on credit, Keywords : Information System Accounting, Credit Purchases, Internal Control Systems

Amid the coronavirus disease 2019 (COVID-19) pandemic, there is an unprecedented increase in public avoidance of hospitals predominantly driven by fear of contracting the virus. Recent publications highlight a re-emergence of rare post–myocardial infarction complications. While mechanical complications are infrequent in the era of primary percutaneous coronary intervention, they are associated with high mortality rates. The concurrent occurrence of mechanical complications such as left ventricular aneurysm and ventricular septal rupture is an extremely rare entity. We hereby delineate a unique case of a 53-year-old Caucasian male who underwent successful concomitant closure of a ventricular septal rupture, left ventricular aneurysmectomy, and 3-vessel coronary artery bypass grafting. Due to a delayed initial presentation owing to the patient’s fear of contracting COVID-19, the surgery was carried out 3 months after the myocardial infarction. His postoperative evaluation confirmed normal contractility of the left ventricle and complete closure of the ventricular septal rupture. Six months postoperatively, the patient continues to do well. We also present a literature review of the mechanical complications following delayed presentation of myocardial infarction amid the COVID-19 pandemic. This article illustrates that clinicians should remain cognizant of these extremely rare but potentially lethal collateral effects during the ongoing global public-health challenge. Furthermore, it highlights a significant concern regarding the delay in first medical contact due to the reluctance of patients to visit the hospital during the COVID-19 pandemic.

The government procurement legislation – i.e. the Swedish procurement law, the EC procurement directives and the WTO’s Government Procurement Agreement – applies on public procurement. Such a procurement exists when the contractor meets the conditions stated in the directives that the organ is to be considered as a contracting auhtority. The conditions are supposed to cover the bodies that objectively are thought to take other considerations than economic when purchasing services or products. The definition of contracting authorities has, however, given rise to several interpretation problems when putting the wording into practice. Since it is the contracting authorities themselves that are responsible for their compliance with the law when purchasing, an unclear definition will result in bodies getting a possibility to, to a larger extent, evade the obligation to comply with the procurement legislation. Because of this, it is of great importance that the courts create a unitary interpretation of the definition; a clear definition serves as a means of exerting pressure.

The thesis is an investigation of the definition of contracting authority where the primary source of information consists of case law from the European Court of Justice. The purpose is to visualize the underlying philisophy of the regulation with a view to suggest an instrument for determining a body’s status as a contracting authority. Regarding the definition of contracting authority, the thesis discuss three different levels. The first level consists of an examination of the wording according to both the directives and the Swedish law, and then the interpretation of the wording by the European Court of Justice. At the following level, it is set out to illustrate differences between the definition on a national level and an EC level, respectively. Finally, it will be established what legislation technique that seems to have been used when formulating the definition of contracting authority in the directives, and also how the result of this should influence the interpretation of the term.

Les notions de pouvoir adjudicateur et d'entité adjudicatrice délimitent le champ d'application personnel de la réglementation européenne des marchés passés respectivement dans les domaines classiques de l'activité administrative et dans certains secteurs d'utilité publique organisés en réseau. Ces notions sont définies selon une approche fonctionnelle qui soulève des interrogations au regard de différents concepts du droit interne. L'étude de trois exemples représentatifs, à savoir le droit français, le droit allemand et le droit anglais, permet de mettre en évidence ces problèmes qui peuvent être synthétisés autour de deux thématiques: la forme juridique de l'acheteur et sa dépendance à l'égard des pouvoirs publics. D'une part, il s'agit d'étudier les incidences de la nature publique ou privée et, plus généralement, de Ia personnalité morale d'une entité sur la mise en œuvre en droit interne des notions de pouvoir adjudicateur et d'entité adjudicatrice. D'autre part, il s'agit d'examiner, à partir de l'interprétation jurisprudentielle de ces notions mais aussi de certaines réglementations nationales spéciales, dans quelle mesure l'activité de différents organismes et les liens, notamment économiques, qu'ils entretiennent avec les pouvoirs publics justifient de les soumettre à la réglementation de marchés publics
The concepts of "contracting authority" and "contracting entity" are the defining elements of the personal scope of the EU Directives on Public Sector and Utility Sector Procurement. The content of these concepts is determined according to a functional approach which raises a number of questions in relation to various notions of domestic law. A comparative study of three representative legal orders, namely French, German and English Law, illustrates these questions which revolve around two issues: the legal form of the purchasers and the nature of their dependency on the State. The first issue involves studying the extent to which the public or private nature of an entity as well as, more generally, the existence or lack of legal personality, have an impact on the implementation of the concepts of "contracting authority" and "contracting entity" in domestic law. Based on the relevant EU and national case law as well as on other specific national provisions, the second issue involves examining the extent to which the nature of an entity's activity and its different ties in particular financial, with the State justifies the application of the public procurement rules on such an entity

The thesis deals with typical decisions made by contracting entities which restrict the competition among economic operators. The thesis analyses the typical mistakes which are made by the contract entities in awarding procedures. The causes of mistakes being made by contracting entities can be summarized into three groups. Into the first group belong conscious mistakes. For these mistakes shall be contracting entities` agents held responsible. Into the second group belong mistakes in planning. Mistakes from the third group are made as a consequence of lack of professional skills. None of these mistakes can be prevented just by an amendment to the Act on Public Contracts. Any proposal of an amendment solving the lack of professional skills shall consider also all connected negative effects; mainly additional time demands, financial costs and the risk of underfinanced praxis turning into formalism. Professionally skilled agents are usually more careful when they apply the Act on Public Contracts because they are aware of legal risks. Considering current limited budget resources it should be decided whether to put stress on cooperation with internal or external experts. The author recommends internal experts because external experts do not do their best if they are aware of the fact being not controlled effectively by internal experts. However the current Act on Public Contracts is not perfect, the duties laid by it are enforced successfully. Considering a new amendment also the legal theory shall be taken into account. The author presumes similarity of preventing of breaches against the Act on Public Contracts and of preventing of crimes. The most important factor preventing from criminality is to be aware that the punishment is inescapable, not its rates. The author points out also the opinion of the general theory of law according to which a new act is to be passed only if there is an objective necessary need. It should not to be passed by a fortuity or because of subjective views. There should be also a time space between the amendments. There was an amendment to Act on Public Contracts approved in 2010 and European Union currently prepares amending of awarding directives. The author therefore prefers improving the praxis of awarding in the Czech Republic by granting additional human resources to the Office for the Protection of Competition to passing of another amendment to the Act on Public Contracts. The scope of the Act on Public Contracts is also not convenient for amending a list of contract clauses which are not allowed to be concluded by contracting entities. There are two reasons. Contracting entities are constituted by various groups of subjects and contracts selling their property are outside the scope of the Act on Public Contracts. Contracting entities should use standard awarding procedure to promote competition among economic operators. They should concentrate on exactness of tender conditions. A good prevention to mistakes in awarding procedure is also good planning and skilled human recourses of contracting entities.

Depletion of Ca2+ stores in the sarcoplasmic reticulum results in the opening of store operated cation channels (SOCCs) on the plasma membrane, allowing Ca2 + influx into the cell and refilling of the stores. The work described in this thesis set out to determine the extent to which Ca2 + entry through the store operated pathway contributes to agonist-induced contraction. in aortic smooth mUSfle. Three major techniques were used to study agonist responses in aortae from C57BL6 mice and Wistar rats. Aortic rings were mounted in organ baths to study the pharmacology of contractile responses to noradrenaline (NA), phenylephrine (PE) thapsigargin (Tg), arg-vasopressin (AVP) and potassium chloride (KCI). These whole tissue experiments were supplemented with electrophysiological and Fura-2 microfluorimetry recordings of cells isolated from the whole tissue by enzymatic digestion. Mouse aortic ring experiments revealed that contraction in response to NA is dependent on verapamil-insensitive ion channels that can be distinguished from those activated by store depletion with Tg by their sensitivity to l-lOmM GdCh or LaCL3 • The ability of low concentrations of 2-APB to enhance contraction induced by NA suggests a role for STTh11 in mediating contraction to NA in the mouse aorta. Single cell experiments designed to further investigate SOCCs in the mouse aorta confirmed the· presence of a Ca2 +-activated chloride channel but did not confirm the presence of the SOCC reported by Trepakova et al (2001) . . Rat aortic ring experiments were carried out to investigate the role of nitric oxide (NO) in the reciprocal regulation model of receptor and store operated calcium entry. No evidence was obtained for the involvement of smooth muscle NO in modulating contractions induced by phenylephrine or AVP in whole tissues.

English summary Public procurement, as a relatively young branch of law, emerging from the American internal army regulations of public contracts, has become one of the most significant instrument of outsourcing execution of work, supply of products and services. In this work I am dealing with construction works, as they are the basis of present and future economic growth. Public tenders for infrastructure, flood control measures, reconstruction of schools and hospitals etc. effectively allocates financial means, but also creates new jobs and opportunities for economic operators hit by the global financial recession. The purpose of this master degree thesis is to analyze the current Czech public procurement legislation with respect of the regulations and directives of the European Union. As it is not possible to give a comprehensive preview of every single problem and question relating public procurement, the focus is on the most problematic part of the Public Procurement Code. The first chapter describes purpose of this specific branch of law providing a short historical background. It also concentrates on the principles of awarding contracts: acting transparently, treating the economic operators equally and avoiding their discrimination. The second chapter explains the basic differences between the...

This chapter contextualizes Hildegard of Bingen’s monumental sequence for her monastic community’s patron St. Rupert, O Ierusalem aurea civitas, both within Hildegard’s own output of sequences, and within the sequence repertory at large. Considering her deep sensitivity to the relationship between text and music, including close attention to grammatical structure, word stress, and word and syllable parsing, the essay proposes that Hildegard uses a varied repetition technique, adapting the standard sequence form. Instead of strict repetition, she varies many elements of the melodic surface through expansion or contraction, preserving an audible sense of repetition while responding directly to new text structures. The essay provides a textual and musical analysis of the entire sequence, demonstrating the composer’s large-scale control of musical structure.

The effects of genetic drift usually assume an idealized population of constant size. This chapter shows how the population size for such an idealized population can be replaced with an effective population size for populations with age structure, unequal sex ratios, a history of expansion or contraction, inbreeding, and population subdivision. These demographic features impact the entire genome more or less equally. A relatively recent understanding is that selection at a site can dramatically reduce the local effective population size experienced by nearby linked sites (the Hill-Robertson effect). This can arise from background selection to remove deleterious new mutations or from selective sweeps wherein favorable new mutations are driven toward fixation. The Hill-Robertson effect is a general way to describe the fact that selection at a site makes selection are other linked sites less efficient, and, therefore, more neutral. This chapter discusses the implications of this finding for genome structure.

Relativity is a set of remarkable insights into the way space and time work. The basic notion of relativity, first articulated by Galileo, explains why we do not feel Earth moving as it orbits the Sun and was successful for hundreds of years. We present thinking tools that elucidate Galilean relativity and prepare us for the more modern understanding. We then show how Galilean relativity breaks down at speeds near the speed of light, and follow Einstein’s steps in working out the unexpected relationships between space and time that we now call special relativity. These relationships give rise to time dilation, length contraction, and the twin “paradox” which we explain in detail. Throughout, we emphasize how these effects are tightly interwoven logically and graphically. Our graphical understanding leads to viewing space and time as a unified entity called spacetime whose geometry differs from that of space alone, giving rise to these remarkable effects. The same geometry gives rise to the energy?momentum relation that yields the famous equation E = mc2, which we explore in detail. We then show that this geometric model can explain gravity better than traditional models of the “force” of gravity. This gives rise to general relativity, which unites relativity and gravity in a coherent whole that spawns new insights into the dynamic nature of spacetime. We examine experimental tests and startling predictions of general relativity, from everyday applications (GPS) to exotic phenomena such as gravitomagnetism, gravitational waves, Big Bang cosmology, and especially black holes.

The terms governing the provision of supplies, services, or works by an economic operator to a governmental entity are set into a public contract that is signed, following a procurement process. This article explores whether the public administration can utilise smart contracts to incorporate the terms governing the provision of supplies, services, or works. The fundamental elements of a contract are assessed, in order to determine whether a smart contract can be considered as fulfilling these requirements. Following this assessment, the main hurdles to the use of smart contracting are examined and a possible solution proposed. The case for utilising smart contracting within the realm of public procurement is finally advocated.

This chapter presents a general discussion of incorporation and corporate representation. General incorporation requires a formal process that company promoters have to go through, at the end of which the company or corporation emerges as a separate legal entity. Since investors will have access only to the corporate property, a certain degree of publicity is required in order to facilitate a clear attribution of assets and liabilities to a specific corporate entity. Disclosure is therefore an important element of the incorporation process, and remains significant throughout the duration of the company. Once incorporated, the company or corporation conducts its business by contracting and transacting with other market participants. This requires the attribution of the acts of natural persons to the corporation, causing the corporate property to be subject to, or released from, liability, or to be increased or decreased by the receipt or disposal of assets.

The rise of demand and supply chain management is of particular relevance to outsourced contracting companies as they are but one cog in a complex chain and have no end products of their own. They rely upon a range of customers and suppliers (the two sometimes being the same entity), who are in turn dependent upon the contract packer. This leads to a complex supply chain where profit margins are generally small and where internal process efficiency and excellent customer service are critical for survival. In this chapter, three projects that introduced new technologies to improve processes or services are reviewed. They all aimed to increase revenues and drive down costs but achieved mixed outcomes.

This chapter traces the evolution of reinventing government of the 1990s to public service delivery in the digital era. It illustrates that public service delivery in the digital era is a means of addressing a long-standing reform agenda not only to increase efficiency but also to influence the way decisions are made. It shows how technology has become a formidable enabler for networked governance bringing together concepts of privatization, public-private partnership, and contracting as a workable solution to many of the government large applications systems concerns, thus making possible the virtual state. This has enabled the citizen to participate in the agenda setting of government. However, the digital era poses important civil liberty concerns related to citizen identification and identity management amongst other privacy related issues. The focus is the need for management to seek a continuous process of using technology to transform their entity into one that truly places the customer as the centre of attention for achieving a customer-oriented environment.

A contract on lifelong support is a contract of inheritance law which is very often concluded in our legal practice. In relation to the contract on lifelong support, the number of concluded contracts on the transfer and distribution of property for life can be considered negligible. The contract on lifetime support is a bilateral legal transaction in the conclusion of which there are two consensual declarations of will. Therefore, for its validity, the existence of a unilaterally expressed will is not enough, but the existence of two consensual declarations of will is necessary. Generally speaking, the provider of support is a person who undertakes to provide support, the provider of support means the contracting party that has undertaken to support the recipient of support or a third party for the rest of his life. There is no dispute in theory and practice regarding the notion of breadwinner, and as a rule, natural persons appear as breadwinners in this contract, although there are no obstacles for a legal entity to appear as a breadwinner.

The lymphatic vasculature extends through most tissues of the body and plays an essential role in maintaining fluid balance, immune cell trafficking, and lipid transport. Nearly all dietary lipid is transported from the intestine to the circulation via the lymphatic system in the form of triglyceride-rich lipoproteins called chylomicrons. This process can be described through two different mechanisms: 1) entry of the chylomicron into the initial lymphatic vessels of the small intestine, known as lacteals, and 2) the transport of these chylomicrons through the larger collecting lymphatics by a complex and coordinated system of individual contracting vessel units (lymphangions) and valve leaflets. We describe here a set of in vitro and in vivo tools we have developed to study the mechanisms that modulate lipid transport under these two different paradigms and show how these tools are uncovering important biological features involved in these mechanisms. Lymphatic pump function is known to be sensitive to the mechanical load on the vessel as the contractility of isolated vessels has been shown to be both shear and stretch sensitive [1], yet whether these mechanisms are important in regulating contractile function in vivo remains uncertain.

Whole Skin Locomotion (WSL) is an amoeba inspired locomotion mechanism for mobile robots in which an elongated torus turns itself inside out in a single continuous motion. Since the entire surface is used as a traction surface, WSL has the potential to traverse highly unstructured terrain, and when filled with fluid with an elastic membrane skin, it has the potential to squeeze through holes smaller than its nominal diameter. Previous work has investigated the mechanics of a concentric solid tube (CST) model in which motion is generated by expanding and contracting actuator rings pushing and pulling the membrane around a solid inner tube. In this paper, we present the mechanics of a fluid filled toroid (FFT) model which replaces the solid inner tube with incompressible fluid. Locomotion using contracting ring actuation is described for the FFT model and compared to the CST model. A novel actuation scheme which exploits the chemo-mechanics of soft polymeric elastic skin is also introduced to elicit useful locomotive behavior. Chemically induced swelling in polymeric skin is demonstrated to be a viable propulsion mechanism for a toroidal membrane under pressure. Finally, preliminary analysis is presented for finding forces required for a WSL robot to squeeze through a hole of a given depth and diameter to investigate the feasibility of using contracting ring actuation and chemically induced swelling for hole traversal.

Detailed predictions have been made of laminar thermo-fluid entry effects for the important practical case of an abrupt circular contraction. The Computational Fluid Dynamics code CFDS-FLOW3D (now CFX) was used, and special care was taken to achieve accurate data, by attention to issues of algorithm choice and grid fineness. Assuming constant properties, detailed local heat transfer predictions have been obtained, for a range of Prandtl and Reynolds numbers and contraction ratio β. The near-entry heat transfer is consistent with the flow behaviour, and gives a clear understanding of the process involved. Qualitatively the results are comparable with experimental and predictive data available in the literature, where however substantial effects due to property changes with temperature were evidenced. This study confirms the presence of flow separation and recirculation found and inferred by other authors, and investigates the phenomena in considerably more detail.

Human blood platelets, stimulated with thrombin, induced contractions of isolated basilar artery segments of the dog. These platelet-mediated vascular contractions were inhibited in a concentration-dependent way by flunarizine, a Ca2+-entry blocker, selective for vascular tissues. This inhibition increased gradually as a function of time after contact with flunarizine to reach its maximum after 60-90 min. Biochemical and pharmacological analyses, using the 5-HT2-serotonergic antagonist ritanserin, the thromboxane A2/prostaglandin endo-peroxide antagonist BM 13.177 and the fatty acid cyclo-oxygenase inhibitor suprofen, showed that 5-hydroxytryptamine and prostanoids (thromboxane A2, prostaglandine endoperoxides) were the main mediators involved. They further suggested amplification between 5-hydroxytryptamine and prostanoids at the vascular level.(1) Incubation period; (2) Inhibition of platelet-mediated vascular contractions.This study demonstrates that 5-hydroxytryptamine, acting in concert with thromboxane A2 and/or prostaglandine-endoper-oxides, is responsible for the vasoconstrictor effects of aggregating platelets. It further indicates that influx of calcium ions is involved in these vasoconstrictor responses.

This paper presents the results of an experimental investigation of two-phase pressure loss of R134a in microchannel headers using various end-cut techniques. Novel experimental techniques and test sections were developed to enable the accurate determination of the minor losses without obfuscating the problem with a lengthwise pressure gradient. This technique represents a departure from approaches used by other investigators that have extrapolated minor losses from air-water experiments and the combined effects of expansion, contraction, deceleration, and lengthwise pressure gradients. Pressure losses were recorded over the entire range of qualities from 100% vapor to 100% liquid. In addition, the tests were conducted for five different refrigerant mass fluxes between 185 kg/m2-s and 785 kg/m2-s using two differnt end-cut techniques. More than 790 data points were recorded to obtain a comprehensive understanding of the effects of mass flux and quality on minor pressure losses. High accuracy instrumentation such as coriolis mass flowmeters, RTDs, pressure transducers, and real-time data analyses were used to ensure accuracy in the results. The results show that many of the commonly used correlations for estimating two-phase pressure losses significantly underpredict the pressure losses found in compact microchannel tube headers. Furthermore, the results show that the end-cut technique can substantially affect the pressure losses in microchannel headers. A new model for estimating the pressure loss in microchannel headers is presented and a comparison of the end-cut techniques on the minor losses is reported.

Abstract A major objective of a greenfield deepwater field development with a host platform, is to achieve the first production milestone set at project sanction. A field development consists of subsurface characterization, reservoir depletion, drilling and completion, subsea production system, host platform and export system. Of these, the floating host platform is a major capital expense and presents a significant execution challenge. Over fifty deepwater floating platforms have been installed in the US Gulf of Mexico (GoM) since 1986, representing the four major platform options; spars, semisubmersibles, Tension Leg Platforms (TLPs) and Floating Production Storage and Offloading (FPSO) platforms, operated by International, Independent and National Oil Companies. They are installed in water depths ranging from 500 m to 3,000 m, with production capacities from 40,000 to over 250,000 barrels of oil equivalent per day (boepd). Over this period the technologies, operator, and supply chain capabilities to execute deepwater projects have matured. An operator embarking on a deepwater project must credibly benchmark cycle times for sequential field development stages (Appraise, Select, Define and Execute). Many variables determine these cycle times including reservoir characterization, fluid properties, estimated recovery, location, access to pipeline networks, water depth, subsea architecture, platform size and complexity and contracting strategy. To provide these benchmarks, the authors have undertaken a critical assessment of ten recent, producing deep and ultra-deepwater field developments in the US GoM, focusing on project execution of the floating platform. Selected field developments capture all floating platform types, several contracting strategies, a wide range of water depths, various reservoir geologies and field locations that cover the entire GoM. The information is intended to assist operators validate cycle times when planning a development, especially the Execute stage. In addition, the paper addresses emerging trends in deepwater GoM field developments following the oil price collapse in 2014 and 2020.

This paper reports full local Nusselt number distributions under an array of impinging jets typical of those used for thermal tip clearance control through casing contraction. Characteristic features of this type of application are sparse arrays of short cooling holes flowing at low jet Reynolds numbers (700–11,000) and large stand-off distances from the surface into a semi-confined passage with multiple exits. These features are captured in a large scale model, approximately ten times engine scale. Heat transfer measurements are made using the transient thermochromic liquid crystal technique. The measurement domain was extended far downstream of the impingement array. This allowed the entire heat transfer coefficient distribution contributing to the contraction of the liner around the rotor blades to be captured. CFD studies were conducted to characterize the flow field obtained, which in turn is helpful in understanding the drivers of heat transfer. The results are compared to existing industry standard correlations, which are generally outside the geometric and Reynolds number range of interest. It was shown that, for the tested geometries, the heat transfer was sensibly unaffected by whether the flow was exhausted through one side of the exit passage or equally in both directions, and the bulk flow field could be predicted using a modified distributed injection model. The heat transfer coefficient distributions are linked to a thermal-mechanical finite element model to provide thermal boundary conditions on an idealized representation of the casing for casing contraction in the presence of cooling scheme. For one of the geometries tested, data from an engine casing thermocouple survey have been compared to predictions of casing temperature determined using the measured heat transfer coefficient distributions and these show reasonable agreement.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.