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Commercial Contracts: Types and Documents

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Commercial Contracts: Types and Documents

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Questions and Answers

What is NOT a stage involved in forming contracts for the purchasing or supply of goods and/or services?

Delivery notes/acknowledgements

Quotations/tenders received

Invoicing and payment

Contracts negotiation (correct)

Which document is NOT typically included in a contract for the purchasing or supply of goods and/or services?

Pricing schedule

Key Performance Indicators (KPIs)

Marketing brochures (correct)

Specification

What is the purpose of developing and presenting business cases to justify expenditure on supplies, services, or projects?

To evaluate the impact on stakeholders

To align with organizational needs (correct)

To increase competition

To bypass procurement regulations

What is a key factor in achieving competitive pricing in procurement and supply?

Retaining value for money in the negotiation process Signup and view all the answers

Which regulation can impact the tendering process by ensuring equality of treatment among suppliers?

Non-discrimination Signup and view all the answers

What type of data is commonly used to measure contract performance?

Quality performance data Signup and view all the answers

What is a typical Key Performance Indicator (KPI) used to measure contract performance?

% decrease in delivery times Signup and view all the answers

'Spec creep' awareness is important in which stage of the tendering process?

Tender evaluation and acceptance Signup and view all the answers

'Internal organizational risk' falls under which category of contractual risk management?

'Market economic risk' Signup and view all the answers

'SMART targets' are used primarily for what purpose in contract performance measurement?

Setting achievable performance standards Signup and view all the answers