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CIPS L4M3 exam is a comprehensive and challenging certification that requires candidates to demonstrate their knowledge and skills in commercial contracting. L4M3 exam is designed to test candidates' ability to apply their knowledge to real-world scenarios and make informed decisions based on sound procurement principles. CIPS Commercial Contracting certification is highly valued by employers in both the public and private sectors, and it can help procurement professionals advance their careers and increase their earning potential. Overall, the CIPS L4M3 Exam is an excellent certification for procurement professionals who want to develop their skills in commercial contracting and stay ahead in their careers.

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Achieving the CIPS L4M3 certification demonstrates that an individual has a strong understanding of the principles of commercial contracting, as well as the ability to apply those principles in a practical setting. CIPS Commercial Contracting certification is highly respected in the procurement and supply chain management field and can lead to enhanced career opportunities and increased earning potential.

CIPS L4M3 Exam is a rigorous exam that requires a significant amount of preparation. Candidates must have a strong understanding of the principles of commercial contracting, as well as the ability to apply those principles in a practical setting. To prepare for the exam, candidates should review the exam syllabus, which provides detailed information about the topics that will be covered on the exam.

CIPS Commercial Contracting Sample Questions (Q202-Q207):

NEW QUESTION # 202
Southwark is negotiating a contract with Orchard to provide software and IT services. Orchard will manufacture and install the products which are contractually supplied by IBM. Southwark's procurement manager is worried that during the contract there would be some problems that they would not able to claim for damages from Orchard. Which of the following should be included in the head contract so that Southward can sue IBM, should the need arise?

A. Negligence
B. Indemnity
C. Collateral warranty deed
D. Insurance

Answer: C

Explanation:
A Collateral Warranty is a contract under which a consultant, a building contractor or a sub- contractor warrants to a third party that is has fulfilled its obligations under its professional appointment, building contract or sub-contract. The purpose of a Collateral Warranty is to give a third party, who is not a party to the original contract, rights to enforce that original contract.
In this case, IBM is the subcontractor, then purchaser can use collateral warranty deed to bind them.
Reference:
- Collateral Warranties - an Overview
- CIPS study guide page 39-40
LO 1, AC 1.2

NEW QUESTION # 203
Which of the following is most likely to be an one-off contract?

A. Commercial lease agreement of an office building
B. Franchise Agreement
C. Framework Agreement for supply of mono-crystalline silicon
D. Contract for construction of a power plant

Answer: D

Explanation:
One-off contracts are used where a supplier is only needed for a single activity unlikely to be repetitive, and where the need of the buyer is concrete and finite. Among the answers, only construction for power plant is one-off since the work is non-repetitive and the need is clearly defined.
A framework agreement is an agreement between one or more businesses or organisations, "the purpose of which is to establish the terms governing contracts to be awarded during a given period, in particular with regard to price and, where appropriate, the quantity envisaged".
A Commercial Lease Agreement is a contract used when renting business property to or from another individual or company. It gives the tenant (or renter) the right to use the property for business purposes during the term of the lease in exchange for payment to the landlord.
A franchise agreement is a legally binding document that outlines a franchisor's terms and conditions for a franchisee. Every franchise is governed by these terms, which are generally outlined in a written agreement between both parties.
Reference:
LO 1, AC 1.3

NEW QUESTION # 204
A Service Level Agreement (SLA) is a formal statement of performance. Which of the following are aspects of a service level agreement?
A force majeure clause
Key performance indicators
A penalty clause for non-performance
The legal jurisdiction of the contract

A. 2 and 3 only
B. 1 and 2 only
C. 1 and 4 only
D. 2 and 4 only

Answer: A

Explanation:
An SLA outlines the expected performance levels and includes KPIs and consequences for non-performance (often in the form of penalties or service credits). Force majeure and jurisdiction clauses are typically part of the main contract terms, not the SLA, which is more operational in nature.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.3.1 - SLAs and their components.

NEW QUESTION # 205
Which of the following is the set of principles that enables courts to determine exactly what the written contract says and what that must mean, then the court will uphold that?

A. Unfair Contract Act 1977
B. Order of precedence
C. Rules of interpretation
D. Rules of contract formation

Answer: C

Explanation:
Courts may be called upon to interpret a statute due to disputes over the meaning of a word or phrase contained within a statute. These disputes may arise through a variety of reasons. It has long been held that words are an imperfect means of communication. Omissions may have occurred at the drafting stage, word or phraseology ambiguity, etymological change through time, oversight on specific points, or a failure to adapt legislation to new developments. This may result in the judiciary providing a role in statutory interpretation. Statutory interpretation in its broadest sense is the process of determining the true meaning of a written document. In UK, the Interpretation Act 1978 provides limited scope to assist judges with statutory interpretation in that it only provides standard definitions to common provisions such as a rebuttable presumption that terminology in the masculine gender also include the feminine, and that the singular includes plural.
An order of precedence clause sets out the order in which the contract documents take precedence in the event of an inconsistency.
The Unfair Contract Terms Act 1977 (c 50) is an Act of Parliament of the United Kingdom which regulates contracts by restricting the operation and legality of some contract terms. It extends to nearly all forms of contract and one of its most important functions is limiting the applicability of disclaimers of liability. The terms extend to both actual contract terms and notices that are seen to constitute a contractual obligation.
Reference:
- Rules of Statutory Interpretation
- CIPS study guide page 43-46
LO 1, AC 1.2

NEW QUESTION # 206
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. Technical support
B. Consignment stock availability
C. OTIF delivery
D. Delay damages

Answer: C

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 # 207
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CIPS Commercial Contracting Sample Questions (Q202-Q207):

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