CIPS Exam L4M3 Topic 9 Question 45 Discussion

Actual exam question for CIPS's L4M3 exam

Question #: 45
Topic #: 9

[All L4M3 Questions]

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?

AFinding signs of misrepresentation of the other contracting party

BPrevailing orally negotiated terms over the final written contract

CEmbedding a term excluding all prior oral discussions that are not mentioned in the final written contract

DAvoiding long negotiation

Show Suggested Answer

Suggested Answer: A, D

Request for quotations is often used when the only variable is price and the purchase value is under a financial threshold. This process is less formal than ITT. RFQ should be used in the following circumstances:

- Low-value, low-risk purchases

- When the specifications are sufficiently defined or the product/service is standardised

- Where the suppliers are pre-qualified

- Where there is a framework agreement which specifies the contract terms and conditions.

LO 1, AC 1.1

by Jaime at Sep 14, 2024, 07:51 PM

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