EXAM L4M3 FORMAT - NEW L4M3 EXAM FEE

Exam L4M3 Format - New L4M3 Exam Fee

Exam L4M3 Format - New L4M3 Exam Fee

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L4M3 pdf dumps carry real CIPS Commercial Contracting (L4M3) exam questions which are printable. It means candidates can take printed actual questions to any place. Furthermore, the CIPS Commercial Contracting (L4M3) PDF dumps format is also portable. Therefore, you can access this valid CIPS L4M3 questions PDF document on tablets, smartphones, and laptops.

CIPS L4M3 Certification Exam covers a wide range of topics related to commercial contracting, including contract law, contract management, procurement, negotiation, and risk management. L4M3 exam is divided into two parts: the first part consists of multiple-choice questions, while the second part is a written exam that assesses the candidate's ability to apply their knowledge to real-world scenarios. L4M3 exam is designed to test the candidate's understanding of commercial contracting principles, as well as their ability to apply these principles to practical situations.

CIPS Commercial Contracting Certification Exam focuses on the principles of commercial contracting, including contract formation, contract administration, and contract termination. It also covers the legal and ethical aspects of contracting, as well as the practical skills required to manage contracts effectively. L4M3 Exam is intended to test not only theoretical knowledge but also practical application, so candidates should be prepared to answer questions that require critical thinking and problem-solving.

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CIPS Commercial Contracting Sample Questions (Q53-Q58):

NEW QUESTION # 53
GPP, the employer, and Prosolia UK, the contractor, entered into five EPC contracts for the development of five different solar power generation plants in the United Kingdom. Four out of the five developments failed to be commissioned by the relevant due dates, with the delays ranging from 44 to 285 days.
Among other claims, GPP, acting through its two investment vehicles, claimed liquidated damages of £500 per day in all four contracts for Prosolia UK's failure to achieve completion of the plants by the due date. The liquidated damages claimed amounted to £1,804,221 across the four delayed contracts.
Prosolia, alongside various other defences, raised the defence that the liquidated damages provision in each contract was a penalty, and therefore unenforceable against it. Is Prosolia contractually obliged to make the payment to the plaintiff?

  • A. Yes, the clause is a genuine estimate of possible losses that GPP may have suffered and therefore, it is enforceable.
  • B. No, the clause must be treated as a penalty clause which is unenforceable in UK
  • C. No, the amount claimed is too excessive and it may put Prosolia into insolvency. The clause must be void
  • D. Yes, the amount is a reward to the employer as they have supervised and monitored the projects

Answer: A

Explanation:
A liquidated damages clause specifies a predetermined amount of money that must be paid as damages for failure to perform under a contract. The amount of the liquidated damages is supposed to be the parties' best estimate at the time they sign the contract of the damages that would be caused by a breach. If a breach occurs and the liquidated damages clause is enforceable, the parties do not calculate the actual damages (i.e., how much money a party actually lost as a result of the breach). Instead, the breaching party pays the predetermined sum provided by the liquidated damages provision.
To be enforceable, a liquidated damages clause should meet the following criteria.
Damages are difficult to estimate. A court will be more likely to enforce a liquidated damages provision if the damages that will be incurred as a result of a breach of the contract are difficult to estimate when the contract is entered into. In certain situations, injuries are easy to prove. For example, if a breach will result in the loss of sales, it is easy to determine the actual damages by calculating lost profits. Others are more difficult, like the harm caused by breach of a confidentiality agreement or theft of trade secrets. To be enforceable, the damages should be either uncertain or difficult to quantify at the time the contract is entered into.
The amount is reasonable and not a penalty. If the amount of the liquidated damages is grossly disproportionate to the actual harm incurred, a court will likely find it is a penalty or punishment and will not enforce the provision. When making this analysis, courts usually consider what was reasonable at the time the contract was entered into as opposed to when the breach occurred. There have been cases, however, where courts will decide the reasonableness of the damage estimate based on the actual harm at the time of the breach.
The scenario is excerpted and edited based on a real world case law. In that case, the court held that GPP was entitled to liquidated damages under all four of the EPC contracts, ruling that the provisions did not amount to unenforceable penalties in each of the contracts.
Reference:
- CIPS study guide page 158-159
- Liquidated damages in energy projects
- What Is a Liquidated Damages Provision?
LO 3, AC 3.2


NEW QUESTION # 54
Buyer D agrees a contract with Supplier C which includes the words 'to be agreed' in relation to the date for delivery of the goods. At the time of the contract, Buyer D is aware that the goods take two days to produce and one day to deliver. Buyer D contacts the supplier one week later, requesting the goods be delivered the following day. Supplier C is unable to deliver the next day but rather delivers the goods three days later. Is it the case that Buyer D can legally refuse to pay for the goods because Supplier C is in breach of contract?

  • A. Yes, because the goods should have been delivered within three days
  • B. No, because the goods were delivered within a reasonable time
  • C. Yes, because the delivery date is an express term within the contract
  • D. No, because there is a contract in place and the delivery date does not matter

Answer: B

Explanation:
In the absence of a clearly defined delivery date, contract law defaults to performance within a "reasonable time." Given that no firm delivery date was agreed upon and the goods were delivered in a timeframe consistent with known production and delivery times, the supplier is not in breach.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.1.1 - Implied terms and delivery timelines.


NEW QUESTION # 55
Blakenall District Hospital (BDH) is a large hospital that is a major part of the government's health service. Purchasing staff are in the habit of placing many long-term contracts with suppliers and sub-contractors. Whilst these contracts are usually carried out successfully, prices are often paid that are well over budget. The purchasing manager is concerned to find that, in some cases, members of staff are forcing suppliers to accept fixed price contracts. The policy has caused several problems such as some suppliers refusing to deal with BDH and a few going out of business mid-way through performing a contract with BDH. This is due to fluctuating market prices of materials. The procurement manager suggests supplier to adopt variable pricing arrangement with price index. Is this a right course of action?

  • A. Yes, this type of arrangement would provide absolute certainty when budgeting
  • B. No, variable pricing would only benefit the suppliers
  • C. No, price adjustment should be applied to short-term supply contract only (3-month duration or less)
  • D. Yes, this pricing arrangement would reimburse the fluctuation of material prices

Answer: D

Explanation:
Procurement staff in the Hospital is forcing suppliers into fixed price contract. If the costs generally rise, supplier may operate at a loss. This situation can disrupt the relationship, that is the reason why some suppliers refusing to deal with BDH and a few going out of business mid-way.
Alternative methods could be variable pricing arrangement. This method would reimburse the fluctuation of market price. It will also benefit buyer if the market price drops. This type of arrangement should be applied to long-term contracts (i.e. 18 months or more).
Reference:
LO 3, AC 3.3


NEW QUESTION # 56
Which of the following shall help the purchaser control the selection of tier 2 suppliers?

  • A. Guarantee clause
  • B. Warranty clause
  • C. Insurance clause
  • D. Subcontracting clause

Answer: D

Explanation:
When a party takes on a contractual obligation, they are legally required to perform the obligation.
That same contracting party is still entitled to subcontract out the work to another service provider, unless the contract:
- is a contract for personal services, such an employment contract
- contains an express term preventing subcontracting out the work, or an implied term Subcontracting clauses are written to control whether the contractor is entitled to subcontract, and how purchaser shall control that subcontracting process.
Reference:
- Subcontracting clauses (delegation of contractual obligations to third parties)
- CIPS study guide page 153-157
LO 3, AC 3.2


NEW QUESTION # 57
Since services are intangible, so KPIs for services must be qualitative in all circumstances. Is this statement correct?

  • A. No, KPIs for services must always be quantitative so that they can be measured easily
  • B. No, some KPIs for services are measurable by means of outcome, time and space performed
  • C. 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
  • D. Yes, the only measure mattered to supply of services is end-users' satisfaction

Answer: B

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 # 58
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