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One of the key benefits of the CIPS L4M3 Exam is that it is recognized globally. This means that individuals who hold this certification are highly valued by employers worldwide. In addition, the CIPS L4M3 Exam is designed to be practical and relevant to real-world situations, allowing individuals to apply their knowledge and skills immediately in their current roles.

CIPS L4M3 exam, also known as the CIPS Commercial Contracting exam, is a professional qualification designed for those who are interested in pursuing a career in procurement and supply chain management. L4M3 exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 qualification, which is an internationally recognized qualification in procurement and supply chain management.

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CIPS Commercial Contracting Sample Questions (Q54-Q59):

NEW QUESTION # 54
Which of the following should be taken to avoid the conflicts between orally negotiated terms before the conclusion of contract and the final written contract?

A. Prevailing orally negotiated terms over the final written contract
B. Embedding a term excluding all prior oral discussions that are not mentioned in the final written contract
C. Avoiding long negotiation
D. Finding signs of misrepresentation of the other contracting party

Answer: B

Explanation:
When a written contract is based on oral negotiation, to avoid the conflicts between orally negotiated terms and final written contract, the contract should include an express term that specifically excludes all prior oral discussion. However, orally negotiated terms can be used to interpret the final contract.
This practice (excluding prior discussion) is so common in international commercial contract that UNIDROIT Principles of International Commercial Contracts have an article (2.1.17) dealing with this.
Reference:
LO 3, AC 3.1

NEW QUESTION # 55
Which of the following is the best definition of "ultra vires"?

A. Let the buyer beware
B. In good faith
C. From one party
D. Beyond powers

Answer: D

Explanation:
Ultra vires is a Latin phrase, meaning "beyond the powers." Describes actions taken by government bodies or corporations that exceed the scope of power given to them by laws or corporate charters. When referring to the acts of government bodies (e.g., legislatures), a constitution is most often the measuring stick of the proper scope of power.
Reference:
LO 1, AC 1.2

NEW QUESTION # 56
EAC Facilities Management is planning for a new construction project in the suburban are a. They decide to use NEC or FIDIC model form of contract for this project. Is this a right course of action?

A. Yes, these forms aim at balanced risk/reward allocation between the parties
B. No, the buyer will bear all the risks derived from the contract
C. Yes, using these forms will eliminate all the risks
D. No, the contractor won't understand the legal terminology in the contract forms

Answer: A

Explanation:
Construction procurement is particularly complex and risky. Forming a contract in construction may take lots of time and energy of both client and contractor. Therefore, standardisation in construction contract would help the buying organisation to save their precious resources. Furthermore, the wording of these model form contracts is accurate as it has been agreed among the professionals within an industry.
One of the advantage of using model forms of contract is the balanced of risk and reward allocation between the contractor, consultant engineer and the client.
Reference:
- An Introduction to FIDIC model contracts
- CIPS study guide page 139-147
LO 3, AC 3.1

NEW QUESTION # 57
SFO procurement manager sent a request for quotation to Vogon International in which he determined the contract terms and specification. In SFO's standard terms and conditions, it is stated that 'Goods shall be delivered and Services performed by the applicable Delivery Date. Supplier must notify Buyer 3 days prior to the Delivery Date if Supplier is likely to be unable to meet a Delivery Date.' Vogon replied with a quotation without any amendment to SFO's terms conditions. The SFO procurement manager found the prices were reasonable and submitted to senior management. Senior management team accepted that quotation and sent a notification to Vogon. On the Delivery Date, Vogon said they had no capacity to supply the product as the quotation due to a workers' strike. Did Vogon breach any agreement with SFO?

A. Yes, because the contract was formed since Vogon had sent the quotation as an acceptance to SFO's offer
B. No, because Vogon had no intention to be bound by the quotation, therefore, it didn't constitute a contract
C. No, because the strike is a force majeur event, so Vogon did not breach any contract with SFO
D. Yes, because the contract had been formed between SFO and Vogon with the quotation as an offer and the notification as an acceptance

Answer: D

Explanation:
SFO issued an RFQ with defined terms and condition and detailed specification. This RFQ can be considered as an invitation to treat. Vogon's quotation is an answer to the purchaser's RFQ and is an offer to SFO. The contract come to life at the time Vogon received the notification from SFO senior management.
The strike may be a force majeur event, depending on the contract particular clauses and jurisdiction. In common law countries, force majeur is applicable as an exclusion of liability only if the contract allows it. In many civil law countries, force majeur is an implied term. But in every jurisdiction, force majeur is only a reason for excluding liability for non-performance of a contract. In other words, the non-performance party is not liable for any breach if force majeur event occurs but the event does not exclude the breach.
LO 1, AC 1.2

NEW QUESTION # 58
Which of the following are likely to be advantages of using invitation to tender? Select TWO that apply:
Short turnaround times

A. Quick implementation
B. Reducing risks of bribery and corruption
C. Lower administration costs
D. Driving forward planning culture

Answer: B,D

Explanation:
Advantages of using invitation to tender may be as below:
No Nepotism: Tenders or bids are evaluated on the basis of certain predetermined criteria, such as price, quality and value for money. In other words, the firm offering the highest quality product or service at the lowest price point would win the contract. As most tender documents are opened and evaluated in a public process, I think that there remains little room for nepotism or favoritism of any kind.
Value for Money: From the perspective of the client, tenders offer the greatest value for the amount of money spent. This is due to the fact that the client can choose from a wide pool of potential suppliers to select the ones that can produce the highest quality product or service at the lowest price point. This allows the company, establishment or organization to save money without having to compromise on quality. Therefore, despite being quite time consuming, tendering is, in my opinion, a profitable long-term process from an organization's point of view.
Encourages Competition: The process of tendering helps promote a competitive market. This is because a number of potential contractors, firms or suppliers get a chance to bid for every project. And because selection depends on quality and price, every bidder tries to reduce operational inefficiencies and redundancies as much as possible in order to lower expenses and improve quality. This entire process encourages healthy competition in the market and prevents complacency and laziness, which in turn provides a boost to innovation and new ideas.
Easier Entry: The system of tendering makes it easier and simpler for new firms to enter the market or even a particular industry. This is due to the fact that contracts under this system are awarded on the basis of predetermined, objective criteria. As a result, even a firm that is a new entrant to the market, having no connections or contacts in the industry, can win a prestigious and lucrative contract by providing the highest value for the client's money. This process therefore helps new firms to quickly get a foothold in the market or industry, thus significantly lowering the traditional barriers to entry.
Reference:
- Characteristics and Benefits of the Tendering Process
- CIPS study guide page 6-8
LO 1, AC 1.1

NEW QUESTION # 59
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