Other research [ 19] has drawn a distinction between relational and (classical) transactional contracting.
According to the theory, there are two aspects to psychological contracts: transactional contracts that focus on monetary exchanges and relational contracts that focus on social and emotional concerns [ 30].
However, this study shows that, whilst transactional contracting may be safe, in that it ensures that providers do provide the services they are contracted to provide, it is also hugely time consuming and expensive, and perhaps therefore unsustainable in the new NHS [ 20].
This work, which comments on Avery Katz's paper on "Remedies under the CISG" (that is the United Nation Convention on Contracts for the International Sale of Goods), focuses on the transactional design of contract remedies and on the legal and economic implications of contracts taking place in a transnational context, as opposed to a purely domestic context.
Transactional commissioning / contracting is much less fluid, sticking more rigidly to specified timescales and targets (e.g. KPIs) and having the ability to penalise poor performance and ultimately terminate contracts.
Lo-Q has a resilient business model based on transactional revenues, long-term contracts and almost no customer churn.
These amendments / closures are made possible by the transactional nature of the contracts involved, and this could be seen as an advantage of this approach.
They conclude that despite the rhetoric of market based reform and the emphasis on using transactional mechanisms such as contracts, in practice commissioners in the NHS tend to operate in a more relational way with providers, based on trust and collaboration.
However, with "out-group" members, leaders set up a transactional relationship based on work contracts (Dienesch & Liden, 1986; Graen & Uhl-Bien, 1995).
If the BuzzwordCoin contract has non-transactional contractual clauses — that is, a functionality that should be regularly called by any party for tasking like computing and updating cached statistics in the contract — we can specify that the miner performing those clauses receives coins from an inflation or shared gas pool.
Direct Government agreements offer the advantage of lower transactional costs compared to individual contracts.
