A8 Cips Preparing And Managing Contracts Exam

A8, Cips Preparing and Managing Contracts Examis very authentic for the individuals who deal with contract management. This article focuses on the examination descriptive mainly.
A8, Cips Preparing and Managing Contracts Examcovers three main sections on which the candidates are validated. Section one consists of ten questions. These ten questions are to be solved in clear cut manner.
In all the sections, the name of the learning objectives consist of legal aspects of a contract, contract pricing methods, contracts management and international issues.
Section two consists of sic questions that consist of various parts individually and the last section consists of three main questions with sub questions.
A8, Cips Preparing and Managing Contracts Examdetails of the questions of the second section are given below:
Lists of pieces of information that a buyers request for quotation (RFQ) should contain these may consist of Required delivery or completion dates, The quantity of the item required, Details of the delivery location, The title (e.g. RFQ), Contact details of the purchaser (name, address, etc.), Name and address of the supplier, Date of sending, Description of the item to be purchased with reference to a specification, as necessary, Space for the seller to indicate price, Reference to a requisition or other request to purchase from within the buyers organization so that the RFQ and subsequent quotations can be reconciled with the original identification of need.
The next question is benefits of good contract management in which the candidates have to elaborate the following Improved control over the contract performance, Performance of the contract by the supplier such that we obtain the product or service that we want when we want it, Better value for money through good control of costs and quality levels, Anticipation of risks in the contract (what can go wrong) giving the buyer a chance to put such issues right, Better management of legal and commercial issues, To ensure that the contract is performed at the right level of quality, To ensure that it is performed at the right time and To ensure that the above are all achieved at the right total cost.
Next question is aspects of satisfactory quality that they would expect to find in any legislation relating to the sale of goods which involves Appearance and finish, Freedom from minor defects, Safety and Durability.
The next question ofA8, Cips Preparing and Managing Contracts Examincludes Identify three usually recognized duties of a buyer in contract formation Order the quantity of product or service required, Pay the supplier for work completed, State requirements concerning delivery, concerning quality and/or specification and timing.
Stages of risk assessment that may be applied to a contract is another important question which includes Identifying potential problems, Identifying likely causes of the problems, Considering the possibility of the problems arising, Assessing the problems impact on the purchasers operations and Devising strategies to minimize or eliminate the risk and/or the seriousness of the risks impact.
There are more important questions that can be found on the PDF file of Cips. The answers to the examination questions are also provided.
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