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Pass Guaranteed Quiz 2025 CIPS Valid New L4M3 Test Review

In recent years, our L4M3 test torrent has been well received and have reached 99% pass rate with all our dedication. As a powerful tool for a lot of workers to walk forward a higher self-improvement, our L4M3 certification training continue to pursue our passion for advanced performance and human-centric technology. A good deal of researches has been made to figure out how to help different kinds of candidates to get L4M3 Certification. We revise and update the CIPS Commercial Contracting guide torrent according to the changes of the syllabus and the latest developments in theory and practice.

The CIPS L4M3 Exam covers a wide range of topics related to commercial contracting including the different types of contracts, their formation and termination, contract performance, and legal and regulatory frameworks. It also assesses candidates' ability to manage the contractual relationship with suppliers, and their ability to draft and negotiate effective contracts. Passing the CIPS Commercial Contracting Certification Exam is an indication of the candidate's capability to deliver successful outcomes through effective contract management. CIPS Commercial Contracting certification is a valuable addition to a procurement and supply management professional's qualifications and enhances their career prospects.

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Latest Released CIPS New L4M3 Test Review - L4M3 CIPS Commercial Contracting Free Brain Dumps

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CIPS Commercial Contracting Sample Questions (Q134-Q139):

NEW QUESTION # 134
Which of the following are most likely to be substantive elements of the specification of a truck? Select TWO that apply:

A. Ethics
B. Expected lifespan
C. Foreword
D. Abbreviation
E. Guarantee

Answer: B,E

Explanation:
The key substantive elements to be included in a specification are:
- Characteristics of the product or service
- Time scale for delivery
- Response times for defects
- KPIs relating to performance and reliability
- Lifespan and durability expectations
- Documentary requirement for training/user manual and/or management information
- Any specific requirements regarding implementation
Reference:
LO 2, AC 2.1

NEW QUESTION # 135
Which of the following will be included in a conformance specification?
1. Brand names
2. Description of the operating environments
3. Chemical formulae
4. Required safety level

A. 2 and 3 only
B. 1 and 4 only
C. 1 and 3 only
D. 1 and 2 only

Answer: A

Explanation:
According to CIPS, there are two main types of specification:
- Conformance specification - is more output driven as it outlines the product details exactly which may include the material, dimensions, tolerances, source, ingredients, packaging, storage of the part or material.
- Performance specification - is more output driven in terms of what the part or material must achieve.
Among the four options, only 2. 'Description of the operating environments' and 3.'Chemical formulae' are possible components of a conformance specification.Brand names can be a part of a performance specification, according to a document published by CIPS and NIGP.
Graphical user interface, text, application Description automatically generated

Reference:
- CIPS study guide page 8-10
- Knowledge Byte - Specification Development
- Principles and Practices of Public Procurement: Specifications
LO 1, AC 1.1

NEW QUESTION # 136
Which of the following is the term that describes an item bought for a single and non-recurring use or purpose?

A. Call-off purchase
B. Operational purchase
C. Stock purchase
D. Ad-hoc purchase

Answer: D

Explanation:
Ad-hoc purchase is the item bought for a single and non-recurring use or purpose.
A call-off contract, also known as a blanket order, is a purchase order which enables bulk orders over a period of time.
Operational procurement refers to the procurement of goods and services that are required to sustain an organization's day-to-day business operations.
Reference:
LO 1, AC 1.3

NEW QUESTION # 137
Which of the following would be suitable key performance indicators (KPIs) for supplier performance?
Ensure you have customer loyalty
Value or percentage of cost reductions obtained
Win an award in the next 12 months
Percentage of on-time in full deliveries

A. 2 and 4 only
B. 2 and 3 only
C. 1 and 4 only
D. 1 and 3 only

Answer: A

Explanation:
"Cost reductions" and "on-time in full deliveries" are quantifiable, objective performance measures that align directly with supplier effectiveness and value. "Customer loyalty" and "awards" are subjective or aspirational and not reliable indicators of contract or supplier performance.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.3.1 - Development and useof KPIs in contract management.

NEW QUESTION # 138
Which of the following clauses addresses fraud, bribery and corruption?
The Company has undertaken commercially reasonable efforts to eliminate Conflict Minerals from each Company Product and any products currently proposed to be manufactured by the Company or on its behalf in the future. "Conflict Minerals" means columbite-tantalite (coltan),cassiterite, gold, wolframite, or their derivatives, which originate in the Democratic Republic of the Congo or other country the exploitation and trade of which is determined by the United States to be financing conflict in the Democratic Republic of the Congo or other country.

A. Each Party hereby undertakes that, at the date of the entering into force of the Contract, itself, its directors, officers or employees have not offered, promised, given, authorized, solicited or accepted any undue pecuniary or other advantage of any kind in any way connected with the Contract and that it has taken reasonable measures to prevent subcontractors, agents or any other third parties, subject to its control or determining influence, from doing so.
B. Nothing in this Agreement shall prevent a Party from utilizing the services of any subcontractor as it deems appropriate to perform its obligations under this Agreement; provided, however, that each Party shall require its subcontractors to comply with all applicable terms and conditions of this
C. Customer will be responsible for and shall ensure that while Service Provider employees, agents or contractors are on Customer's premises, all proper and legal health and safety precautions are in place and fully operational to protect such persons.
D. Agreement in providing such services and each Party shall remain primarily liable to the other Party for the performance of such subcontractor.

Answer: A

Explanation:
This question is intended to let students know about how contractual clauses regarding ethical issues is constructed. The exam paper may not ask about this.
"Each Party hereby undertakes that, at the date of the entering into force of the Contract, itself, its directors, officers or employees have not offered, promised, given, authorized, solicited or accepted any undue pecuniary or other advantage of any kind in any way connected with the Contract and that it has taken reasonable measures to prevent subcontractors, agents or any other third parties, subject to its control or determining influence, from doing so.": This is a clause addressing fraud, bribery and corruption. It is created to prevent any undue act by contracting parties. You may find other anti-corruption clause samples in this document.
"Nothing in this Agreement shall prevent a Party from utilizing the services of any subcontractor as it deems appropriate to perform its obligations under this Agreement; provided, however, that each Party shall require its subcontractors to comply with all applicable terms and conditions of this Agreement in providing such services and each Party shall remain primarily liable to the other Party for the performance of such subcontractor.": This clause is used to control the subcontracting and subcontractors.
"Customer will be responsible for and shall ensure that while Service Provider employees, agents or contractors are on Customer's premises, all proper and legal health and safety precautions arein place and fully operational to protect such persons.": This clause is used to ensure health and safety standards.
"The Company has undertaken commercially reasonable efforts to eliminate Conflict Minerals from each Company Product and any products currently proposed to be manufactured by the Company or on its behalf in the future. "Conflict Minerals" means columbite-tantalite (coltan), cassiterite, gold, wolframite, or their derivatives, which originate in the Democratic Republic of the Congo or other country the exploitation and trade of which is determined by the United States to be financing conflict in the Democratic Republic of the Congo or other country.": This is a clause addressing conflict minerals.
Reference: CIPS study guide page 164-166
LO 3, AC 3.2

NEW QUESTION # 139
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