WELL-PREPARED L4M3 PDF DEMO DOWNLOAD & LEADING OFFER IN QUALIFICATION EXAMS & UPDATED L4M3: CIPS COMMERCIAL CONTRACTING

Well-Prepared L4M3 Pdf Demo Download & Leading Offer in Qualification Exams & Updated L4M3: CIPS Commercial Contracting

Well-Prepared L4M3 Pdf Demo Download & Leading Offer in Qualification Exams & Updated L4M3: CIPS Commercial Contracting

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We provide CIPS Commercial Contracting L4M3 web-based self-assessment practice software that will help you to prepare for the L4M3 certification exam. CIPS Commercial Contracting L4M3 Web-based software offers computer-based assessment solutions to help you automate the CIPS L4M3 exam testing procedure. The stylish and user-friendly interface works with all browsers, including Google Chrome, Opera, Safari, and Internet Explorer. It will make your certification exam preparation simple, quick, and smart. So, rest certain that you will discover all you need to study for and pass the CIPS Commercial Contracting L4M3 Exam on the first try.

CIPS L4M3 Exam is a comprehensive assessment of a candidate's knowledge and skills in commercial contracting. L4M3 exam is divided into two parts: the first part consists of multiple-choice questions, while the second part requires candidates to answer a case study-based question. Successful completion of L4M3 Exam demonstrates that a candidate has a thorough understanding of the legal aspects of procurement and contracting and is capable of managing complex contracts effectively.

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CIPS Commercial Contracting exam covers a range of topics, including contract law, contract drafting, contract management, and dispute resolution. Candidates will learn how to identify and manage contractual risks, negotiate contracts, and monitor supplier performance. L4M3 Exam also covers the use of frameworks, such as NEC and JCT, and the role of technology in contract management.

CIPS Commercial Contracting Sample Questions (Q151-Q156):

NEW QUESTION # 151
Which of the following will be always automatically deemed as a consideration?

  • A. Promise to perform over and above an existing obligation
  • B. Promise given to a third party
  • C. Implied consideration
  • D. Past consideration

Answer: A

Explanation:
Consideration only appears in common law countries. Below are some examples of what is and what is not consideration:
- Past consideration is something that has already been done or given. This cannot act as consideration
- Implied consideration: if the detail of a promise to pay is expressed after the provision of goods or services, but there is an implication that such promise would be forthcoming, this may (depending on the facts) be valid consideration.
- A promise given to a third party: this is not normally consideration, and is based on a concept known as privity of contract. Anyone who is not a party to the contract, even if they are beneficiary of it, cannot sue if the terms of the contract are breached.
- A promise to perform over and above an existing obligation: This is always consideration Reference:
- Consideration & Promissory Estoppel
- CIPS study guide page 36-40
LO 1, AC 1.2


NEW QUESTION # 152
Which of the following shall help the purchaser control the selection of tier 2 suppliers?

  • A. Subcontracting clause
  • B. Warranty clause
  • C. Guarantee clause
  • D. Insurance clause

Answer: A

Explanation:
When a party takes on a contractual obligation, they are legally required to perform the obligation.
That same contracting party is still entitled to subcontract out the work to another service provider, unless the contract:
- is a contract for personal services, such an employment contract
- contains an express term preventing subcontracting out the work, or an implied term Subcontracting clauses are written to control whether the contractor is entitled to subcontract, and how purchaser shall control that subcontracting process.
Reference:
- Subcontracting clauses (delegation of contractual obligations to third parties)
- CIPS study guide page 153-157
LO 3, AC 3.2


NEW QUESTION # 153
Standard terms and conditions should become the governing terms for which group of items?

  • A. Strategic items
  • B. Leverage items
  • C. Routine items
  • D. Bottleneck items

Answer: C

Explanation:
Standard terms and conditions are set of terms that is prepared by an organisation. These terms can become the governing terms in low-value, low-risk transactions (or Routine items according to Kraljic's portfolio model). They can be a reference when negotiating for more important contract.
Reference:
LO 3, AC 3.1


NEW QUESTION # 154
A large company supplies a lot of products. Their shipments are often delayed and customers are not satisfied.
Which of the following KPIs is most likely to be applied to this situation?

  • A. OTIF delivery
  • B. Consignment stock availability
  • C. Technical support
  • D. Delay damages

Answer: A

Explanation:
If the deliveries often delay, buyer should use KPI to measure how many missed deliveries there are and the percentage of total missed deliveries on total number of deliveries for period. OTIF (one-time in-full) delivery might help.
Consignment stock availability means that the supplier holds adequate range/number of units of stock to offer a reliable service Delay damages are the consequences caused by delay of deliveries Technical support is the acceptable quality of technical information/support provided by supplier for goods supplied.
LO 2, AC 2.2


NEW QUESTION # 155
Under a framework agreement, which of the following are supplier selection mechanisms? Select TWO that apply:

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

Answer: D,E

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 capableof 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 # 156
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