Whether processing or page charges, publication charges have became just another cost of doing and disseminating research, like making slides or maintaining a service contract for instruments.
The racket revealed around the rigging of the crucial Libor inter-bank interest rate – affecting $500tn worth of contracts, financial instruments, mortgages and loans – has underlined the scale of corruption at the heart of the financial system.
For example, Mr. Iksil bought and sold derivative contracts — financial instruments tied to the value of corporate bonds and other investments — in an effort to protect the bank from market fluctuations.
Contracts are instruments for organizing business collaborations.
Purchasers no longer talked of contracts as instruments that could be used to lever service improvements and, though the language of partnership and co-operation was much in evidence, this was not so much a reflection of the growth of relational contract norms but the diminished importance of the contracting framework.
When the Labour Party returned to power at the 1997 general election there was an initial move away from the language of markets and competition that had characterised the early years of the NHS internal market, and less emphasis than before on contracts as instruments for managing provider performance.
Problems have continued, including losing the contract to sterilise instruments at a new hospital in Perth, Australia, after equipment was found to be contaminated.
Mr. Simonetti started pursuing a contract with the instrument's maker, the St . PetersburgMusical Wind Instruments Factory, in 1994 after admiring one of its tubas during a performance of the Moscow Symphony in Raleigh, N.C.
It said that while global firms have created supply chains that straddle many countries and are insulated from movements in currencies by long-term contracts and hedging instruments, they are not a dominant feature.
For regulators, the real horror story may be the $307 billion of contracts written on instruments owned by banks in America and Europe and designed to guarantee the banks' asset quality, thereby helping their regulatory capital levels.How much pain taxpayers will ultimately bear is an open question.
