ACHIEVE SUCCESS 100% WITH CIPS L4M3 EXAM QUESTIONS IN THE FIRST ATTEMPT

Achieve Success 100% With CIPS L4M3 Exam Questions In The First Attempt

Achieve Success 100% With CIPS L4M3 Exam Questions In The First Attempt

Blog Article

Tags: L4M3 Valid Study Materials, L4M3 Reliable Exam Registration, Valid Exam L4M3 Practice, Latest L4M3 Braindumps, L4M3 Certification Book Torrent

The candidates taking the CIPS Commercial Contracting exam can try a free demo and test features of CIPS L4M3 exam questions before purchasing it. ExamDumpsVCE also provides three months of free updates on CIPS exam questions if the exam content changes after you have bought the product. The ExamDumpsVCE gets feedback from learned professionals and makes improvements in the L4M3 valid questions so that it can serve the purpose well.So, are you ready to earn a CIPS Commercial Contracting, and join a group of certified and skilled professionals? If yes, getting the CIPS L4M3 exam questions by ExamDumpsVCE is a perfect start to your CIPS Commercial Contracting exam preparation.

To prepare for the CIPS L4M3 exam, procurement professionals should have a good understanding of the procurement process, contract management, and supply chain management. They should also have knowledge of legal principles related to commercial contracts and be familiar with industry best practices for contract negotiation and performance evaluation. CIPS provides study materials and training courses to help candidates prepare for the exam.

CIPS L4M3 Exam also covers contract termination, which is an essential part of the contract lifecycle. Procurement professionals will learn about the different ways in which a contract can be terminated, including by mutual agreement, breach of contract, and force majeure. They will also learn about the steps that need to be taken to ensure a smooth and orderly termination of the contract.

>> L4M3 Valid Study Materials <<

Quiz L4M3 - Valid CIPS Commercial Contracting Valid Study Materials

Overall, we can say that with the CIPS Commercial Contracting (L4M3) exam you can gain a competitive edge in your job search and advance your career in the tech industry. However, to pass the CIPS L4M3 Exam you have to prepare well. For the quick CIPS L4M3 exam preparation the L4M3 Questions is the right choice.

CIPS Commercial Contracting Sample Questions (Q179-Q184):

NEW QUESTION # 179
Which of the following is a true statement on express and implied terms?

  • A. Express terms always take precedent over implied terms
  • B. Implied terms may derive from oral negotiations
  • C. Express terms must always be in writing
  • D. Express terms must be prepared by the party with expert knowledge

Answer: B

Explanation:
Express terms are the terms of the agreement which are expressly agreed between the parties. Ideally, they will be written down in a contract between the parties but where the contract is agreed verbally, they will be the terms discussed and agreed between the parties.
Implied terms are terms implied into the contract by the courts. They are not expressly set out in the contract but are taken to be as effective as if they were and as if they had been included from day one of the contract. The express terms and any implied terms together create the legally binding obligations on the parties.
The types of express terms to be found in a contract are many and varied and will depend on the type of contract. Any term written into the contract is an express term and may refer to price, time scales, warranties and indemnities, limitations on liability, conditions precedent and so on.
An implied term is a term which the courts imply into a contract because it has not been expressly included by the parties. This may be because the parties did not consider it, did not think that any problem would arise in relation to it or simply omitted to include it.
The courts are very reluctant to imply terms into contracts and will only do so in the following circumstances:
1. terms implied under statute
2. terms implied under common law
3. terms implied because of custom or usage
4. terms implied due to previous dealings
5. terms implied 'in fact' or to reflect the parties' intentions
Reference:
- CIPS study guide page 126-132
- Contracts: Express and Implied Terms
LO 3, AC 3.1


NEW QUESTION # 180
Under a framework agreement, which of the following are supplier selection mechanisms? Select TWO that apply:

  • A. Mini competition
  • B. Direct call-off
  • C. Call off contract
  • D. Rescission of contract
  • E. Contract for lease

Answer: A,B

Explanation:
A framework agreement is an agreement with one or more suppliers/providers which sets out terms and conditions under which individual contracts (call-offs) can be made throughout the term of the agreement.
A framework agreement itself is not a contract, but the call-offs made from it are.
Framework arrangements create a streamlined and flexible process for procuring goods, works or services Where a framework for the same goods, works or services is awarded to several suppliers, there are three possible options for awarding call-off contracts: direct award (or direct call-off), mini-competition or a combination of both.
Option 1 - Apply the terms of the framework agreement (direct award).
Where your requirements match the terms and/or specification of the framework agreement (in the event of any query, you should clarify the situation with the organisation that established the framework), a particular call-off should be awarded without re-opening competition. The call-off should be awarded to the provider who is identified as the most economically advantageous tender based on the award criteria used at the time that the framework was established (i.e. the supplier ranked no. 1). Randomly selecting a supplier off a framework is not permitted.
Option 2 - Hold a mini-competition between capable suppliers.
If your requirements do not match the terms and/or the specification of the framework, you should conduct a mini-competition exercise. Whilst it is not permitted to substantially change the basic terms or specification of the framework, in running a mini-competition it is possible to supplement or refine the basic terms of the framework prior to making a call-off. Examples of such terms are:
- The particular goods/services/works required;
- Particular delivery timescales;
- Particular invoicing arrangements and payment profiles;
- Associated services such as installation, maintenance and training;
- Quantity;
- Functional specification.
Under no circumstances should brand names or brand-specific descriptions of goods be used e.g. BIC Biro Pen, Hewlett-Packard Printer, Dell computer. Descriptions should give reference to the characteristics and outputs of the product or service. Where no other description is possible, any reference should be qualified by adding the words 'or equivalent'.
When a mini-competition exercise is held, all suppliers appointed to the framework that are capable of meeting the requirement must be invited to submit a tender. (This might just relate to suppliers within a particular 'lot'). You must not limit the mini-competition exercise to selected providers. A time limit for submitting the tender must be set and advised to competing suppliers. This time limit must be reasonable, taking account of the complexity of the requirement.
The call-off must be awarded on the basis of the framework award criteria and new criteria cannot be added, although, where permitted, the weightings may be varied to take account of a particular requirement. However, in adjusting the weightings, care must be taken to ensure that any such changes do not have an adverse effect on competition.
Option 3 - Combination of direct award and mini-competition
To use a combination approach, the procurement documents must state that this route may be used. The procurement documents will also specify which terms may be subject to the re-opening of competition.
Reference:
- Guidance on the Use of Framework Agreements
- CIPS study guide page 60-62
LO 1, AC 1.3


NEW QUESTION # 181
A senior buyer is preparing specification for the next purchase. He intends to embed social and environmental criteria that align with his organisation's overarching strategy. Which of the following provides the social and environmental objectives that an organisation pursues?

  • A. Economy of scale
  • B. Procurement Systems and Technology
  • C. Organisation's CSR policies
  • D. Economic performance

Answer: C

Explanation:
The organisation should have an overarching strategies or policies which sets out the social and environmental objectives to be pursued via procurement and the supply chain generally. Some of these will be about the specification, but that must be tied in other aspects of the sourcing strategy. These objectives, policies and strategies can be found in corporate social responsibility policy.
Reference:
LO 2, AC 2.1


NEW QUESTION # 182
Which of the following is the set of principles that enables courts to determine exactly what the written contract says and what that must mean, then the court will copyright that?

  • A. Unfair Contract Act 1977
  • B. Rules of interpretation
  • C. Rules of contract formation
  • D. Order of precedence

Answer: B

Explanation:
Courts may be called upon to interpret a statute due to disputes over the meaning of a word or phrase contained within a statute. These disputes may arise through a variety of reasons. It has long been held that words are an imperfect means of communication. Omissions may have occurred at the drafting stage, word or phraseology ambiguity, etymological change through time, oversight on specific points, or a failure to adapt legislation to new developments. This may result in the judiciary providing a role in statutory interpretation. Statutory interpretation in its broadest sense is the process of determining the true meaning of a written document. In UK, the Interpretation Act 1978 provides limited scope to assist judges with statutory interpretation in that it only provides standard definitions to common provisions such as a rebuttable presumption that terminology in the masculine gender also include the feminine, and that the singular includes plural.
An order of precedence clause sets out the order in which the contract documents take precedence in the event of an inconsistency.
The Unfair Contract Terms Act 1977 (c 50) is an Act of Parliament of the United Kingdom which regulates contracts by restricting the operation and legality of some contract terms. It extends to nearly all forms of contract and one of its most important functions is limiting the applicability of disclaimers of liability. The terms extend to both actual contract terms and notices that are seen to constitute a contractual obligation.
Reference:
- Rules of Statutory Interpretation
- CIPS study guide page 43-46
LO 1, AC 1.2


NEW QUESTION # 183
Which of the following are benefits of using model form contracts? Select TWO that apply.
Liability is greatly reduced for suppliers
Suppliers can renegotiate terms more easily
They improve contract consistency
They are widely accepted in certain industries

  • A. 1 and 3
  • B. 1 and 2
  • C. 2 and 4
  • D. 3 and 4

Answer: D

Explanation:
Model form contracts are pre-standardised agreements used across industries to bring consistency, clarity, and fairness to commercial relationships. They are particularly beneficial in complex sectorslike construction and engineering where industry-accepted templates like NEC, JCT, or FIDIC are widely used.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.1.3 - Use and benefits of model form contracts.


NEW QUESTION # 184
......

The quality of our L4M3 exam questions is of course in line with the standards of various countries. At the same time, our global market is also convenient for us to collect information. You will find that the update of L4M3 learning quiz is very fast. You don't have to buy all sorts of information in order to learn more. L4M3 training materials can meet all your needs. What are you waiting for? Just rush to buy them!

L4M3 Reliable Exam Registration: https://www.examdumpsvce.com/L4M3-valid-exam-dumps.html

Report this page