QUESTION 96
Which of the following regulates barriers to the provision of services between countries?

QUESTION 97
Which of the following is the contract provision that relieves the parties from performing their contractual obligations when certain circumstances like natural disasters, terrorist attacks, etc arise?

QUESTION 98
Which of the following standards gives guidance on the layout and preparation of specifications?

QUESTION 99
A senior buyer is preparing specification for the next purchase. He intends to embed social and environmental criteria that align with his organisation’s overarching strategy. Which of the following provides the social and environmental objectives that an organisation pursues?

QUESTION 100
Which of the following is an agreement between service provider and user that quantifies the minimum quality of service?

QUESTION 101
Which of the following KPIs is qualitative?
1. Openness and co-operation of supplier
2. Responsiveness of supplier
3. Customer satisfactory ratings
4. Cost management
5. OTIF deliveries

QUESTION 102
To check whether supplier actually complies with the labour standards set out in the contract, the purchaser should have…?

QUESTION 103
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?

QUESTION 104
A procurement professional is drafting payment terms for a commercial contract. He is considering about payment method if defective products are found. Which of the following should be embedded in payment terms to control this issue?

QUESTION 105
Infra Constructions receive a contract for construction of a building, and following terms were agreed upon. “The entire cost of the project will be reimbursed to Infra Constructions (estimated cost of the project being $ 25 million). The profits will be 20% of the entire cost of a project subject to a max of $ 5 million.” This arrangement is an example of…?

QUESTION 106
Social and environmental criteria are often incorporated into which of the following type of specification?

QUESTION 107
When should liquidated damages clauses be written into a contract?

QUESTION 108
Under hire purchase agreement, when will the ownership of asset legally belong to the purchaser?

QUESTION 109
Under which of the following scenarios an RFQ is most likely to be used?

QUESTION 110
In which of the following section of a specification, requirements for training to use the equipment will be set out?

QUESTION 111
In the UK, Unfair Contract Terms Act 1977 regulates which of the following?

QUESTION 112
Which of the following statement is true about one-off contract?

QUESTION 113
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

QUESTION 114
Which of the following are most likely to be substantive elements of the specification of a truck? Select TWO that apply:

QUESTION 115
You are to do the KPIs and targets for international supplier and the following was done
1. Delivery in an hour
2. Return orders in an hour
Is that a good thing or not?

QUESTION 116
A service contract is going to be expired, which data source is good to create specifications for ITT?
1. Incumbent supplier
2. Maintenance services
3. Alternative supplier
4. User’s knowledge

QUESTION 117
In a contract, both buyer and supplier agreed the lead time is 3 days. The contract also requires that any variation must be made in writing. Then the buyer places an order by phone call and requests delivery the next day, but the supplier delivers on the third day since the order. Can buyer refuse to pay as supplier did not deliver per time?

QUESTION 118
Which of the following is an invitation to treat?