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CIPS L4M3 (CIPS Commercial Contracting) Exam is designed to assess a candidate's knowledge and skills in the field of commercial contracting. L4M3 exam focuses on contract management techniques and principles, as well as procurement and supplier management concepts. Individuals who Pass L4M3 Exam are deemed to have a deep understanding of commercial contracting and are equipped with the necessary skills to excel in this field.

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The CIPS L4M3 exam covers a wide range of topics related to commercial contracting, including contract formation and management, contractual terms and conditions, contract negotiation, and dispute resolution. It also covers the legal, ethical, and regulatory aspects of commercial contracting, as well as the importance of effective communication and stakeholder management. Passing the CIPS L4M3 Exam demonstrates that a professional has a deep understanding of commercial contracting concepts and is able to apply them in a practical setting, making them a valuable asset to any organization.

CIPS Commercial Contracting Sample Questions (Q61-Q66):

NEW QUESTION # 61
In order to monitor supplier's performance, an organization decides to draft performance management frameworks. Which of the following are the components of a performance management framework? Select THREE that apply:

A. Consequences
B. Justification
C. Targets
D. Force majeure
E. Indemnity
F. KPIs

Answer: A,C,F

Explanation:
There are three key components of a performance management framework:
- Key performance indicators (KPIs) - What you are measuring
- Targets - the performance level to be achieved
- Consequences - what happens if the measures are not achieved and/or if they are exceeded Reference: CIPS study guide page 11-14 LO 1, AC 1.1

NEW QUESTION # 62
To expand its operation, Steel Co. decides to build a new plant. Despite of excitement, the senior management is very concerned about the complexity and risks of such project. Hugo, the procurement manager, suggests that the company can adopt a model form of contract. What is the advantage of using model form of contract?

A. It shifts the balance of power in the favour of the buyer rather than the contractor
B. The company could avoid the need to draft a complex contract from blank
C. Model form of contract eliminates the need for legal advice totally
D. The company does not need to draft the drawings as well as specification anymore

Answer: B

Explanation:
Advantages and Disadvantages of using model form contracts.
Model form contracts save a lot of time and money. They are written by industry experts and the buyers and suppliers both understand what is included in the contract.
They are mainly used in Construction and term maintenance contacts. Typical ones are JCT and NEC.
Without the use of model form contracts the buyer and supplier will take a long time to write the terms, negotiate and finalise the contract.
This is time and money wasted.
However, model form contracts require buyers and suppliers to have training so you understand them.
Finally, if you are a buyer in a powerful position you cannot exploit that with a model form contract as these are written for mutual benefit.

Reference:
- Procurement Study Buddy on Facebook
- CIPS study guide page 147

NEW QUESTION # 63
If service level agreement is used as a schedule that makes up the contract, it will be most likely to be a part of...?

A. Pricing arrangement
B. Specifications
C. Exclusion of liabilities
D. Performance management framework

Answer: D

Explanation:
If a service level agreement is used as a schedule to a contract, it will generally have the following contents:
- Service definitions. If the service information is provided by the specification, SLA should only refer to the specification to avoid any inconsistencies.
- Details on how to measure KPIs, who will measure KPIs
- Minimum requirements or targets
- Remedies if the minimum requirements are not met
...
Since SLA often lists out the KPI targets, consequences for not meeting the KPI targets and remedies to situation of poor performance, it is a part of performance management.
Reference:
LO 2, AC 2.2

NEW QUESTION # 64
Prior to circulating the service specification to a tendering supplier, it is good practice for the purchasing organisation to request completion of a non-disclosure agreement. Is this statement correct?

A. Yes, because the non-disclosure agreement encourages transparent bidding
B. No, because the non-disclosure agreement only applies after contracting
C. No, because the non-disclosure agreement has no legal standing
D. Yes, because the non-disclosure agreement protects intellectual property

Answer: D

Explanation:
Non-disclosure agreements (NDAs) are legally binding documents that protect confidential and proprietary information, including intellectual property, during pre-contractual discussions. NDAs ensure that sensitive data shared during early engagement or tender development is not misused.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.2.1 - Confidentiality agreements and intellectual property protection.

NEW QUESTION # 65
Which of the following are likely to be advantages of using invitation to tender? Select TWO that apply:
Short turnaround times

A. Reducing risks of bribery and corruption
B. Driving forward planning culture
C. Quick implementation
D. Lower administration costs

Answer: A,B

Explanation:
Advantages of using invitation to tender may be as below:
No Nepotism: Tenders or bids are evaluated on the basis of certain predetermined criteria, such as price, quality and value for money. In other words, the firm offering the highest quality product or service at the lowest price point would win the contract. As most tender documents are opened and evaluated in a public process, I think that there remains little room for nepotism or favoritism of any kind.
Value for Money: From the perspective of the client, tenders offer the greatest value for the amount of money spent. This is due to the fact that the client can choose from a wide pool of potential suppliers to select the ones that can produce the highest quality product or service at the lowest price point. This allows the company, establishment or organization to save money without having to compromise on quality. Therefore, despite being quite time consuming, tendering is, in my opinion, a profitable long-term process from an organization's point of view.
Encourages Competition: The process of tendering helps promote a competitive market. This is because a number of potential contractors, firms or suppliers get a chance to bid for every project. And because selection depends on quality and price, every bidder tries to reduce operational inefficiencies and redundancies as much as possible in order to lower expenses and improve quality. This entire process encourages healthy competition in the market and prevents complacency and laziness, which in turn provides a boost to innovation and new ideas.
Easier Entry: The system of tendering makes it easier and simpler for new firms to enter the market or even a particular industry. This is due to the fact that contracts under this system are awarded on the basis of predetermined, objective criteria. As a result, even a firm that is a new entrant to the market, having no connections or contacts in the industry, can win a prestigious and lucrative contract by providing the highest value for the client's money. This process therefore helps new firms to quickly get a foothold in the market or industry, thus significantly lowering the traditional barriers to entry.
Reference:
- Characteristics and Benefits of the Tendering Process
- CIPS study guide page 6-8
LO 1, AC 1.1

NEW QUESTION # 66
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Quiz 2025 CIPS L4M3 Pass-Sure Latest Exam Fee

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CIPS Commercial Contracting Sample Questions (Q61-Q66):

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