CIPS L3M3 - Contract Administration
Where all does not go well on a contract and there are significant increased costs of implementation, a contract clause may exist whereby both buyer and contractor share the unanticipated additional costs using a pre-agreed formula. What is the expression which describes such an arrangement?
Which STEEPLE factor deals with issues of foreign exchange rates, inflation, consumer spending, labour costs and unemployment levels?
Which of the following is unlikely to be regarded as a conformance specification?
A bottle of sparkling water sells for $1. The variable cost is 50 cents. Fixed costs for the business are $100,000 (one hundred thousand dollars). How many bottles of water must be sold for the business to reach breakeven point?
Which one of the following is from the STEEPLE framework?
When both buyer and seller share cost information with each other (in both directions), in order to collaborate in cost reduction activities.
‘When the best XXX is selected, a formal YYY ZZZ is prepared and sent to the supplier. Choose the most likely words to replace XXX, YYY and ZZZ.
The price at which suppliers wish to sell and buyers wish to buy; and the market clears, is called the
In which year did the United Nations issue the Universal Declaration of Human Rights?
What do we call it when a seller sets a low introductory price to win customers, or to discourage competitors owing to the low margins achievable in the marketplace? Choose one.
