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NEW QUESTION 44
XYZ Ltd is negotiating a long-term supply contract of important parts with a supplier. Dave, procurement manager teams up with Alla, legal manager to construct a service level agreement. Dave is concerned that poor performance of supplier may cause damages to the operations of the organisation. Which of the following can be used in conjunction with SLA to compensate the buying organisation in case of supplier's poor performance?
1. Warranties
2. Force majeure clauses
3. Penalty clauses
4. Service credits

A. 4 and 2 onlyB. 1 and 3 onlyC. 1 and 2 onlyD. 3 and 4 only

Answer: D

Explanation:
Service level agreement often sets out the minimum quality standards of the services provided, remedies if that standards are not met, consequences if the targets are exceeded. Penalty clauses and service credits are remedies that are often used in conjunction with service level agreement to ensure the performance and to compensate the purchaser if targets are not met.
Reference:
LO 2, AC 2.2

 

NEW QUESTION 45
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. No, because the performance management should be solely developed by suppliersB. Yes, because Carillion wants to implement early supplier involvementC. No, because the framework will increase the complexity of the contractD. 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:
LO 1, AC 1.1

 

NEW QUESTION 46
Which of the following should be done by procurement professionals right after obtaining a pre-written specification for a critical item so that the added value will be the greatest?

A. Challenge the used specificationB. Issue invitation to tender or request for quotationC. Select the best supplierD. Evaluate tender or quotation

Answer: A

Explanation:
A previously used specification must always be robustly challenged to see how well it fits the proposed circumstances. Aspects which appear not to fit should be analysed to understand why they were included in the sample specification and whether this changes the view on whether or not they should be omitted or changed.
Reference:
LO 2, AC 2.1

 

NEW QUESTION 47
Which of the following are always included within a framework agreement? Select TWO that apply:

A. Exact quantity to be purchasedB. DurationC. InsuranceD. Exact price to be paidE. Call-off procedure

Answer: B,E

Explanation:
A framework agreement will set out the following:
- How call offs can be made - whether a mini-competition is required or a direct call off can be made
- How price is calculated
- The specification - this may have various options to cater for different needs
- The duration of the agreement
- Who can access the agreement
- Any limitations
- The main terms to be included in the contract or the form of contract to be used, where this is intended to be a standard form.
Reference:
LO 1, AC 1.3

 

NEW QUESTION 48
To expand its operation, Steel Co. decides to build a new plant. Despite of excitement, the senior management is very concerned about the complexity and risks of such project. Hugo, the procurement manager, suggests that the company can adopt a model form of contract. What is the advantage of using model form of contract?

A. Model form of contract eliminates the need for legal advice totallyB. The company could avoid the need to draft a complex contract from blankC. It shifts the balance of power in the favour of the buyer rather than the contractorD. The company does not need to draft the drawings as well as specification anymore

Answer: B

Explanation:
Advantages and Disadvantages of using model form contracts.
Model form contracts save a lot of time and money. They are written by industry experts and the buyers and suppliers both understand what is included in the contract.
They are mainly used in Construction and term maintenance contacts. Typical ones are JCT and NEC.
Without the use of model form contracts the buyer and supplier will take a long time to write the terms, negotiate and finalise the contract.
This is time and money wasted.
However, model form contracts require buyers and suppliers to have training so you understand them.
Finally, if you are a buyer in a powerful position you cannot exploit that with a model form contract as these are written for mutual benefit.

Reference:
- Procurement Study Buddy on Facebook
- CIPS study guide page 147

 

NEW QUESTION 49
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