PASS4SURE L4M3 EXAM PREP & PDF L4M3 DOWNLOAD

Pass4sure L4M3 Exam Prep & PDF L4M3 Download

Pass4sure L4M3 Exam Prep & PDF L4M3 Download

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Tags: Pass4sure L4M3 Exam Prep, PDF L4M3 Download, Latest L4M3 Braindumps Sheet, Clearer L4M3 Explanation, New L4M3 Test Papers

The CIPS expert team use their knowledge and experience to make out the latest short-term effective training materials. This training materials is helpful to the candidates. It allows you to achieve the desired results in the short term. Especially those who study L4M3 while working, you can save a lot of time easily. Pass4training's training materials are the thing which you most wanted.

CIPS L4M3 (CIPS Commercial Contracting) Certification Exam is designed to test individuals on their knowledge and understanding of the commercial contracting process. L4M3 exam is suitable for procurement professionals who have experience in managing commercial contracts and are looking to further enhance their skills and knowledge in this area. The CIPS L4M3 Exam covers a range of topics, including the legal framework and regulatory requirements of commercial contracting, contract performance management, dispute resolution, and contract termination.

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L4M3 exam practice & L4M3 latest dumps & L4M3 training torrent

The importance of cracking the Professional CIPS L4M3 Certification test is increasing, and almost everyone is taking it to validate their skills. CIPS Commercial Contracting (L4M3) has tried its best to make this learning material the best and most user-friendly, so the candidates don't face excessive issues. The applicants can easily prepare from our real CIPS Commercial Contracting Exam QUESTIONS and clear test within a few days.

CIPS Commercial Contracting Sample Questions (Q143-Q148):

NEW QUESTION # 143
Social and environmental criteria are often incorporated into which of the following type of specification?

  • A. Conformance specification
  • B. Design specification
  • C. Output specification
  • D. Technical specification

Answer: C

Explanation:
Developing and using generic specifications is as import in the sustainable procurement process as it is in the traditional procurement process. During this stage, human/labour rights and environmental performance criteria should be translated into specifications that meet specific requirements of the specified outcome, desired by the procurement action.
The specification stage is key to all types of contract. Building in environmental and social considerations at this early stage, provides a clear indication to suppliers that sustainability is important to the UN organization. Consider available alternatives which are less environmentally and socially damaging. Consider all the phases of a product's life cycle (e.g. production, transportation, maintenance, disposal, etc) when determining its cost and environmental impact. Assess the overall environmental and social integrity of suppliers by looking at their policies and practices.
Specifications which are output-based rather than input-based can increase supplier innovation, reduce waste and minimise harmful social and environmental impacts.
Reference:
- Sustainable Procurement
- CIPS study guide page 95-99
LO 2, AC 2.1


NEW QUESTION # 144
Which of the following is always automatically considered as a contract?

  • A. Framework arrangement
  • B. Call-off
  • C. Framework agreement
  • D. Performance management framework

Answer: B

Explanation:
- A call off or a term contract is one which exists for a fixed period of time, rather than for a specific purpose
- A formal framework agreement does have some legal standing but it is not a contract, primarily because there is no consideration involved, but it is an overarching (or umbrella) agreementunder which contracts can be created (this holds true in English law but may not be right in other jurisdiction)
- A framework arrangement is a rather loose set-up, without any legal standing. It usually occurs when an organisation has decided for itself to limit the number of suppliers it is willing to work with and, through a purely internal process, sets up an approved list of such suppliers.
- A performance management framework including KPIs and targets, the assessment scheme and incentives, disincentives, bonuses and penalties. It is a schedule to a contract and only legally binding if it is referred from contract clauses.
Reference: CIPS study guide page 59-63
LO 1, AC 1.3


NEW QUESTION # 145
Which of the following is the most suitable model contract for car lift manufacturing?

  • A. IMechE/IET
  • B. CIPS
  • C. FIDIC
  • D. ITC

Answer: A

Explanation:
IMechE/IET: Institution of Mechanical Engineers/Institution of Engineering and Technology - two separate institutes that issue jointly agreed model forms covering the design, supply and installation of electrical, electronic and mechanical plant including special conditions for the ancillary development of software. Car lifts are mechanical products, so IMechE/IET is the most suitable model contract for this type of product.
FIDIC is a French language acronym for Federation Internationale Des Ingenieurs-Conseils, which means the international federation of consulting engineers. It was started in 1913 by the trio of France, Belgium and Switzerland. The United Kingdom joined the Federation in 1949. FIDIC is headquartered in Switzerland and now boasts of membership from over 60 different countries. FIDIC published its first contract, titled The Form of contract for works of Civil Engineering construction, in 1957. As the title indicated, this first contract was aimed at the Civil Engineering sector and it soon became known for the colour of its cover, and thus, The Red Book. It has become the tradition that FIDIC contracts are known in popular parlance by the colour of their cover. This first contract by FIDIC was undertaken jointly with the International federation of Building and Public works. FIDIC's concerted effort at achieving broad consultation and acceptance of its contract forms has seen subsequent editions of its contracts being ratified by the International Federation of Asian and Western Pacific Contractors Association, Associated General Contractors of America and the Inter-American Federation of the Construction Industry, Multilateral Development Banks among others. Because of the broad support it enjoys, FIDIC contracts are the foremost contracts in international construction.
The Chartered Institute of Procurement and Supply (CIPS) has some model contracts for IT functions including: supply and installation of computer equipment, support and maintenance of bespoke software, servicing of computer equipment,...
The International Trade Centre (ITC) produces contracts specifically designed for small companies doing international business, covering the sale of goods, distribution, services and joint ventures.
Reference: CIPS study guide page 142
LO 3, AC 3.1


NEW QUESTION # 146
Which of the following is the term that describes an item bought for a single and non-recurring use or purpose?

  • A. Ad-hoc purchase
  • B. Operational purchase
  • C. Call-off purchase
  • D. Stock purchase

Answer: A

Explanation:
Ad-hoc purchase is the item bought for a single and non-recurring use or purpose.
A call-off contract, also known as a blanket order, is a purchase order which enables bulk orders over a period of time.
Operational procurement refers to the procurement of goods and services that are required to sustain an organization's day-to-day business operations.
Reference:
LO 1, AC 1.3


NEW QUESTION # 147
Which of the following is a benefit to the buyer of using model form contracts?

  • A. It reduces time and costs in developing a formal contract
  • B. Most suppliers are unfamiliar with the terms used
  • C. No legal advice is required as variations are not accepted
  • D. The terms used are advantageous to the buyer

Answer: A

Explanation:
Model form contracts streamline procurement processes by providing pre-agreed and widely understood terms, which reduce the time and legal costs of contract drafting. These are especially useful in complex industries and promote consistency and fairness.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.1.3 - Model form contracts and efficiency.


NEW QUESTION # 148
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