投标
计算机科学
谈判
施工合同
过程(计算)
对抗制
自动化
生产(经济)
风险分析(工程)
人工智能
合同管理
业务
程序设计语言
工程类
经济
法学
微观经济学
营销
机械工程
政治学
作者
Jaikrishna Padhy,Murali Jagannathan,Venkata Santosh Kumar Delhi
出处
期刊:Journal of Legal Affairs and Dispute Resolution in Engineering and Construction
[American Society of Civil Engineers]
日期:2021-09-15
卷期号:13 (4)
被引量:30
标识
DOI:10.1061/(asce)la.1943-4170.0000505
摘要
Construction projects, by their very nature, are capital-intensive and risk-prone. Risk allocation and its management are therefore, integral parts of construction operations. A reasonably drafted contract allocates risk to the party that is best capable of handling it. Imbalance in risk allocation, however, is a common contract feature. By including exculpatory clauses, risks are often transferred without assessing a party’s ability to handle them. This bias in risk allocation promotes an adversarial relationship. Therefore, it is essential to identify such clauses before signing a contract. While it is possible to identify them by reading the bid documents, the manual process is time-consuming and often not pursued considering the lack of time in the bidding stage. Automation of such tasks can therefore aid a manager’s decision making. However, it requires tools that can quickly and reliably identify and extract exculpatory clauses. This study developed a natural language processing (NLP) model as a proof of concept to identify exculpatory clauses automatically. The developed model demonstrates that NLP is a potentially useful tool, aiding decision makers in refining their negotiation strategies before signing a contract.
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