L4M3: Commercial Contracting

This practice tests include some key areas of the module (learning objectives) which learners must master so as to pass CIPS exams. The test has been designed to make learners fully aware of the structure of actual CIPS exams hence upon finish this test one will have a clear understanding of what to expect from the actual examinations.

The Commercial Contracting module aims to provide learners with an understanding of the key elements and legal features of formal commercial contracts. Learners will be able to analyse the content of specifications for procurements and interpret key performance indicators that are included within any contracts prepared with suppliers.

Key Clauses that are included in formal contracts

• Analyze the documentation that can comprise a commercial agreement for the supply of goods and services

• Analyze the legal issues that lead to the creation of commercial agreements with customers or suppliers

• Compare types of contractual agreements made between customers and suppliers

Specifications and key performance indicators

• Analyse the content of specifications for procurements

• Appraise examples of key performance indicators (KPIs) in contractual agreements

Legal issues in relation to commercial contracts

• Analyse contractual terms for contracts that are created with external organisations

• Recognise examples of contractual terms typically incorporated into contracts that are created with external organisations

• Recognise pricing arrangements in commercial agreements

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