CIPS L4M3 RELIABLE TEST PREP & L4M3 TOP DUMPS

CIPS L4M3 Reliable Test Prep & L4M3 Top Dumps

CIPS L4M3 Reliable Test Prep & L4M3 Top Dumps

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Passing the L4M3 Exam is a challenging task, but with 2Pass4sure CIPS Practice Test engine, you can prepare yourself for success in one go. The L4M3 online practice test engine offers an interactive learning experience and includes CIPS L4M3 Practice Questions in a real L4M3 Exam scenario. This allows you to become familiar with the L4M3 exam format and identify your weak areas to improve them.

The CIPS L4M3 exam covers a wide range of topics related to commercial contracting, including contract formation and management, contractual terms and conditions, contract negotiation, and dispute resolution. It also covers the legal, ethical, and regulatory aspects of commercial contracting, as well as the importance of effective communication and stakeholder management. Passing the CIPS L4M3 Exam demonstrates that a professional has a deep understanding of commercial contracting concepts and is able to apply them in a practical setting, making them a valuable asset to any organization.

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CIPS Commercial Contracting Sample Questions (Q168-Q173):

NEW QUESTION # 168
As part of a long-term contract, a buyer may wish to use separate service level agreements (SLAs). If the targets are not met, which of the following options would compensate the purchaser?

  • A. Service standards
  • B. Service credits
  • C. Service guarantees
  • D. Service schedules

Answer: B

Explanation:
Service credits are financial compensations provided to the buyer when the supplier fails to meet the agreed- upon service levels outlined in the SLA. They serve as a remedy for underperformance. Service guarantees are commitments to meet certain standards, service standards define the expected level of service, and service schedules outline the timing of service delivery, but none directly compensate the buyer for service failures.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 2, Section 2.2.2 - The use of service level agreements (SLAs).


NEW QUESTION # 169
Which of the following is the procedure that makes no further competition under a framework agreement?

  • A. Blanket order
  • B. Closed system
  • C. Direct call-off
  • D. Standing offer

Answer: C

Explanation:
Direct call off is the act of placing an order under a framework agreement without having further competition.
Standing offer is an available offer.
Blanket order is another name of framework agreement
Closed system is a requirement of framework agreement. It is a system or process that, once started, does not allow new entrants.
Reference:
LO 1, AC 1.3


NEW QUESTION # 170
Under a framework agreement, which of the following are supplier selection mechanisms? Select TWO that apply:

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

Answer: B,D

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 # 171
Carillion Ltd is a major construction contractor in the UK. The company commits to continuous improvement and sets out a performance management program that is integrated across the organisational, individual, and supplier levels. To ensure that the suppliers acknowledge the program, every time negotiating the contract terms with suppliers, the procurement team of Carillion appends a performance management framework to the draft document as a schedule. Is the action of procurement team appropriate?

  • A. Yes, because Carillion wants to implement early supplier involvement
  • B. No, because the framework will increase the complexity of the contract
  • C. No, because the performance management should be solely developed by suppliers
  • D. Yes, because the framework should have legal standing as a part of contract

Answer: D

Explanation:
Performance management framework often consists of KPIs, targets and consequences that arise from achieved scores. To ensure that the framework has binding effect on contracting parties, it should be developed, appended to the main contract document and agreed by both parties. So the answer should be
"Yes, because the framework should have legal standing as a part of contract".
Reference: CIPS study guide page 11-14
LO 1, AC 1.1


NEW QUESTION # 172
Which of the following are likely to be advantages of using request for quotation? Select TWO that apply:

  • A. Helping the buying organisation assess both price and quality
  • B. Short turnaround times
  • C. Lower administration costs
  • D. No specification required
  • E. Encouraging suppliers to submit creative solutions

Answer: B,C

Explanation:
One of the advantages of using the RFQ method to procure pricing is that the company making the solicitation does not need to prepare any documentation, as requests are sent out privately. With less paperwork to prepare, turnaround times for quotes are reduced. Administration cost is also lower in compare with other procurement method like ITT or RFP. RFQ is usually used in low value purchase, where buyer knows the detailed specification and the price is the only variable that need to consider.
To use RFQ effectively, the buyer should attach the detailed specification and standard terms & conditions. The RFQ should only be sent to verified suppliers.
Reference:
- What is an RFQ?
- CIPS study guide page 3-4
LO 1, AC 1.1


NEW QUESTION # 173
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