Quiz 2025 CIPS Valid L4M3: Test Certification CIPS Commercial Contracting Cost

You can use this CIPS Commercial Contracting (L4M3) practice exam software to test and enhance your CIPS Commercial Contracting (L4M3) exam preparation. Your practice will be made easier by having the option to customize the CIPS in L4M3 exam dumps. Only Windows-based computers can run this CIPS L4M3 Exam simulation software. The fact that it runs without an active internet connection is an incredible comfort for users who don't have access to the internet all the time.

Another important area covered by the CIPS L4M3 exam is contract administration. This involves managing the contract once it has been signed, ensuring that all parties are complying with the terms and conditions, and addressing any issues that arise during the contract period. Procurement professionals will learn how to monitor supplier performance, manage contract changes, and resolve disputes.

The CIPS L4M3 exam covers a wide range of topics related to commercial contracting, including contract formation and management, contractual terms and conditions, contract negotiation, and dispute resolution. It also covers the legal, ethical, and regulatory aspects of commercial contracting, as well as the importance of effective communication and stakeholder management. Passing the CIPS L4M3 Exam demonstrates that a professional has a deep understanding of commercial contracting concepts and is able to apply them in a practical setting, making them a valuable asset to any organization.

CIPS L4M3 Exam is a valuable certification for procurement professionals who are involved in commercial contracting. It demonstrates that the individual has a comprehensive understanding of the commercial contracting process and is able to negotiate and manage contracts effectively. CIPS Commercial Contracting certification is recognized globally and is highly regarded by employers in the procurement industry. Passing the CIPS L4M3 Exam is a significant achievement and demonstrates a commitment to professional development in the field of procurement.

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L4M3 Exam Test Certification Cost & Newest Latest L4M3 Test Objectives Pass Success

In the era of rapid changes in the knowledge economy, do you worry that you will be left behind? Let's start by passing the L4M3 exam. Getting a L4M3 certificate is something that many people dream about and it will also bring you extra knowledge and economic benefits. As we all know, if you want to pass the L4M3 Exam, you need to have the right method of study, plenty of preparation time, and targeted test materials. However, most people do not have one or all of these. That is why I want to introduce our CIPS original questions to you.

CIPS Commercial Contracting Sample Questions (Q37-Q42):

NEW QUESTION # 37
Which of the following is the most suitable model contract for car lift manufacturing?

A. IMechE/IET
B. FIDIC
C. ITC
D. CIPS

Answer: A

Explanation:
IMechE/IET: Institution of Mechanical Engineers/Institution of Engineering and Technology - two separate institutes that issue jointly agreed model forms covering the design, supply and installation of electrical, electronic and mechanical plant including special conditions for the ancillary development of software. Car lifts are mechanical products, so IMechE/IET is the most suitable model contract for this type of product.
FIDIC is a French language acronym for Federation Internationale Des Ingenieurs-Conseils, which means the international federation of consulting engineers. It was started in 1913 by the trio of France, Belgium and Switzerland. The United Kingdom joined the Federation in 1949. FIDIC is headquartered in Switzerland and now boasts of membership from over 60 different countries. FIDIC published its first contract, titled The Form of contract for works of Civil Engineering construction, in 1957. As the title indicated, this first contract was aimed at the Civil Engineering sector and it soon became known for the colour of its cover, and thus, The Red Book. It has become the tradition that FIDIC contracts are known in popular parlance by the colour of their cover. This first contract by FIDIC was undertaken jointly with the International federation of Building and Public works. FIDIC's concerted effort at achieving broad consultation and acceptance of its contract forms has seen subsequent editions of its contracts being ratified by the International Federation of Asian and Western Pacific Contractors Association, Associated General Contractors of America and the Inter-American Federation of the Construction Industry, Multilateral Development Banks among others. Because of the broad support it enjoys, FIDIC contracts are the foremost contracts in international construction.
The Chartered Institute of Procurement and Supply (CIPS) has some model contracts for IT functions including: supply and installation of computer equipment, support and maintenance of bespoke software, servicing of computer equipment,...
The International Trade Centre (ITC) produces contracts specifically designed for small companies doing international business, covering the sale of goods, distribution, services and joint ventures.
Reference:
LO 3, AC 3.1

NEW QUESTION # 38
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. Consignment stock availability
B. OTIF delivery
C. Technical support
D. Delay damages

Answer: B

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 # 39
The cost in cost reimbursable contract is...?

A. Profit
B. Variable cost
C. Fixed cost
D. Actual cost

Answer: D

Explanation:
A cost reimbursable contract (sometimes called a cost plus contract) is one in which the contractor is reimbursed the actual costs they incur in carrying out the works, plus an additional fee. Option E of the NEC3 Engineering and Construction Contract (ECC) is an example of a cost reimbursable contract.
Reference:
- CIPS study guide page 176-179
- Cost reimbursable contract
LO 3, AC 3.3

NEW QUESTION # 40
Which of the following are most likely to be liabilities of suppliers under a guarantee clause?(SelectAny Two)

A. Installation
B. TWO that apply
C. Upgrading
D. Decommissioning
E. Replacement
F. Repair

Answer: E,F

Explanation:
A guarantee is an agreement given by a trader to a consumer, without any extra charge, to repair, replace or refund goods that do not meet the specifications set out in the guarantee. A guarantee is usually issued by the manufacturer of goods or by a trader that provides goods as part of a service - replacement windows, for instance. Generally, a guarantee provider undertakes to carry out free repairs, for a set period of time, for problems that can be attributed to manufacturing defects.
Reference:
- Guarantees and warranties
- CIPS study guide page 157-159
LO 3, AC 3.2

NEW QUESTION # 41
Which of the following are NOT covered by CISG? Select TWO that apply:

A. Liability to pay damages
B. Contract validity
C. Liability of the seller for death or personal injury
D. Remedies for breach of contracts
E. Transfer of risks

Answer: B,C

Explanation:
United Nations Convention on Contracts for the International Sale of Goods (Vienna Convention or CISG) Vienna Convention was prepared by by the United Nations Commission on International Trade Law (UNCITRAL) and adopted by a diplomatic conference on 11 April 1980. The Convention was welcomed by several countries from different geographic areas, with different legal and political systems. As of 20 August 2020, the Convention has93 Contracting States. The Convention has proved the effectiveness of an uniform text on international trade law.
What CISG covers, and what it does not
In the 6 first articles of the Convention, the authors set up the boundaries of its application.
First is about where it applies. According to UNCITRAL, the Convention applies to contracts of sale of goods between parties whose places of business are in different States and either both of those States are Contracting States or the rules of private international law lead to the law of a Contracting State. A few States have availed themselves of the authorisation in article 95 to declare that they would apply the Convention only in the former and not in the latter of these two situations. As the Convention becomes more widely adopted, the practical significance of such a declaration will diminish. Finally, the Convention may also apply as the law applicable to the contract if so chosen by the parties. In that case, the operation of the Convention will be subject to any limits on contractual stipulations set by the otherwise applicable law.
Second, the Convention has a list of goods that are not subject to its application in Article 2. Article 3 clarifies the differences between manufacturing contracts and sale contract.
Third, Article 4 and 5 clearly states what CISG does not covers, including grounds for contract invalidity and liabilities to death or injury of person caused by the the goods Finally, the Convention respects the contractual freedom of the trading parties. Trading parties may select this convention as governing law or select other instrument, such as UPICC or domestic laws.
Reference:
- Governing law in International Contracts - Would you choose CISG or UPICC (Part 1)
- CIPS study guide page 49-52
LO 1, AC 1.2

NEW QUESTION # 42
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Quiz 2025 CIPS Valid L4M3: Test Certification CIPS Commercial Contracting Cost

L4M3 Exam Test Certification Cost & Newest Latest L4M3 Test Objectives Pass Success

CIPS Commercial Contracting Sample Questions (Q37-Q42):