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CIPS Commercial Contracting Sample Questions (Q28-Q33):

NEW QUESTION # 28
ABC Ltd is a UK based company. It plans to enter into a contract with XYZ Ltd which is based in Singapore.
Which of the following are the mandatory elements for the contract between ABC Ltd and XYZ Ltd to be legally binding? Select THREE that apply.

A. There must be an offer and an acceptance
B. The invitation to tender must be sent by the agreed deadline
C. An amount of money must be paid upfront
D. All parties must have capacity to contract
E. There must be an invitation to treat
F. The two parties must have intention to be bound

Answer: A,F

Explanation:
The formation of the contract is where the contractual journey begins; if no contract is formed, neither of the parties can be under any obligations. Therefore, it is very important to have an understanding of each part of a contract's formation.
In order for a legally binding agreement to be formed, there are four basic requirements to be met:
2.1 Offer
2.2 Acceptance
2.3 Certainty & Intention to Create Legal Relations
2.4 Consideration & Promissory Estoppel
Reference:
- CIPS study guide page 28-42
- Formation of the contract
LO 1, AC 1.2

NEW QUESTION # 29
CISG will be most likely to apply to which of the following transactions?

A. Sale of a property
B. Sale of a ship
C. Sale of iron ores
D. Sale of electricity

Answer: C

Explanation:
Article 2 of CISG states that:
This Convention does not apply to sales:
(a) of goods bought for personal, family or household use, unless the seller, at any time before or at the conclusion of the contract, neither knew nor ought to have known that the goods were bought for any such use; (b) by auction; (c) on execution or otherwise by authority of law; (d) of stocks, shares, investment securities, negotiable instruments or money; (e) of ships, vessels, hovercraft or aircraft; (f) of electricity.
LO 1, AC 1.2

NEW QUESTION # 30
Carillion Ltd is a major construction contractor in the UK. The company commits to continuous improvement and sets out a performance management program that is integrated across the organisational, individual, and supplier levels. To ensure that the suppliers acknowledge the program, every time negotiating the contract terms with suppliers, the procurement team of Carillion appends a performance management framework to the draft document as a schedule. Is the action of procurement team appropriate?

A. Yes, because the framework should have legal standing as a part of contract
B. No, because the framework will increase the complexity of the contract
C. No, because the performance management should be solely developed by suppliers
D. Yes, because Carillion wants to implement early supplier involvement

Answer: A

Explanation:
Performance management framework often consists of KPIs, targets and consequences that arise from achieved scores. To ensure that the framework has binding effect on contracting parties, it should be developed, appended to the main contract document and agreed by both parties. So the answer should be
"Yes, because the framework should have legal standing as a part of contract".
Reference: CIPS study guide page 11-14
LO 1, AC 1.1

NEW QUESTION # 31
Since services are intangible, so KPIs for services must be qualitative in all circumstances. Is this statement correct?

A. Yes, quantitative KPIs are limited to timeliness of supply of goods, defective rates and in-full quantities, which are applied to monitor supplier of physical goods
B. No, KPIs for services must always be quantitative so that they can be measured easily
C. No, some KPIs for services are measurable by means of outcome, time and space performed
D. Yes, the only measure mattered to supply of services is end-users' satisfaction

Answer: C

Explanation:
KPIs are used to monitor supplier's performance. They can be qualitative or quantitative. Of course, service providers can be monitored by quantitative KPIs regarding the outcome achieved (such as uptime in IT contracts), timeliness of deliveries (such as in construction contracts)...
Reference:
LO 2, AC 2.2

NEW QUESTION # 32
As part of a long-term contract, a buyer may wish to use separate service level agreements (SLAs). If the targets are not met, which of the following options would compensate the purchaser?

A. Service standards
B. Service guarantees
C. Service schedules
D. Service credits

Answer: D

Explanation:
Service credits are financial compensations provided to the buyer when the supplier fails to meet the agreed- upon service levels outlined in the SLA. They serve as a remedy for underperformance. Service guarantees are commitments to meet certain standards, service standards define the expected level of service, and service schedules outline the timing of service delivery, but none directly compensate the buyer for service failures.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 2, Section 2.2.2 - The use of service level agreements (SLAs).

NEW QUESTION # 33
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