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CIPS L5M3 exam is an advanced-level exam that is suitable for procurement and supply chain professionals who have a good understanding of the procurement process and the legal and regulatory framework that governs the procurement function. L5M3 exam is designed to be challenging, and candidates will need to demonstrate a deep understanding of the subject matter in order to pass. However, passing the exam can be a valuable asset for professionals looking to advance their careers in procurement and supply chain management.
CIPS L5M3 certification exam is an excellent way for procurement and supply chain management professionals to enhance their skills and knowledge in managing contractual risks. Managing Contractual Risk certification not only provides candidates with a competitive advantage in the job market, but it also demonstrates their commitment to professional development and excellence in their field. Moreover, this certification is recognized globally, making it an ideal choice for professionals who are looking to expand their career opportunities beyond their current geographic location.
Passing the CIPS L5M3 Managing Contractual Risk exam demonstrates a high level of proficiency in identifying and managing contractual risks. Managing Contractual Risk certification is highly valued by employers in the procurement and supply chain industry, and can open up opportunities for career advancement and higher-paying roles. L5M3 exam is also an important step towards achieving the CIPS Level 5 Advanced Diploma in Procurement and Supply, which is recognized globally as a mark of excellence in procurement and supply chain management.
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NEW QUESTION # 111
An exchange of written documents between a buyer and supplier, each detailing their own Terms and Conditions is known as the Battle of the Forms. Who generally wins the Battle?
Answer: D
Explanation:
The Battle of The forms is won by the party who sends the last form. This is referred to in the study guide as 'the last shot wins'
NEW QUESTION # 112
Which of the following statements about 'Specific Performance' are TRUE? Select TWO.
Answer: B,C
Explanation:
1+3 are correct. Specific Performance tend to go through the courts so this is a lengthy and costly process. Because it's mandated by the courts it means that if the offending party doesn't comply, this is a criminal offence and they can be arrested. Option 2 is incorrect as it is the opposite of option 1. Option 4 is incorrect because there is no need for the innocent party to mitigate any losses. See p. 132 for more information on Specific Performance
NEW QUESTION # 113
R3D3 is a computer manufacturer who has had an issue with their supplier. They are seeking a conflict resolution approach which is flexible but will provide a binding and enforceable outcome. They would like the resolution to be confidential and directed by an independent third party that is appointed for them. Which of the following would be the best conflict resolution for them to select?
Answer: C
Explanation:
Arbitration ticks all of the boxes required by R3D3. Mediation isn't correct because it's not binding. Negotiation isn't correct because there's no 3rd party. Litigation isn't correct because it's not confidential. See p. 80 for more on arbitration.
NEW QUESTION # 114
Which of the following will you put into box 1?
Answer: A
Explanation:
The correct answers are as follows:
This is an anticipatory breach as the breach hasn't happened yet- it's about what will happen to the future summer order.
NEW QUESTION # 115
If an innocent party wishes to terminate a contract due to a breach, which of the following is true?
Answer: C
Explanation:
The correct answer is "only future obligations of the parties are excused and discharged" - all cur-rent and past obligations need to be fulfilled, or remedied (e.g. through liquidated damages). When an innocent party terminates a contract, they are still obliged to fulfil their own obligations. P.47
NEW QUESTION # 116
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