Exam 14: Contract Management

The _____ clause in a contract describes how an issue will be addressed if a portion of the agreement is void or unenforceable and which court of law will resolve the difference.

(Multiple Choice)

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Question 61

The use of automated online catalogs by major suppliers of MRO items allows users to buy directly from blanket orders and national contracts from their desktops.

(True/False)

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Question 62

A/An _ is similar to a/an _ but allows the addition of items not originally included in the blanket order and may also allow the original purchase order to be extended for a longer term.

(Multiple Choice)

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Question 63

Which of the following is not one of the factors to consider when deciding which dispute-resolution mechanism to use?

(Multiple Choice)

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Question 64

Taking a dispute into the jurisprudence system should be an automatic step in resolving the dispute, and not viewed as a last resort in resolving contractual disputes.

(True/False)

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Question 65

Perhaps the most compelling reason to consider a short-term contract, from the buyer's perspective, is that such contracts may reduce the level of risk incurred if longer-term contracts are employed.

(True/False)

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Question 66

In a firm fixed price contract, if market prices for a purchased good or service _ the stated contract price, the _ bears the brunt of the financial loss.

(Multiple Choice)

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Question 67

Perhaps the simplest method of resolving a contractual disagreement involves straightforward, face-to-face negotiation between the two parties involved.

(True/False)

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Question 68

In global commerce, people assume that the terms of one market are acceptable in another and do not recognize cultural or legal landmines.

(True/False)

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Question 69

A _____ is defined as a purchase that is made on a nonrecurring or limited basis with little or no intention of developing an ongoing relationship with the supplier.

(Multiple Choice)

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Question 70

The _____ clause in a contract provides specific details on how the supplier's performance will be measured and if any compensation will be awarded by the supplier to the buyer if these defined levels of performance are not maintained.

(Multiple Choice)

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Question 71

With pure ______ contracts, allowable costs are shared between the parties on a predetermined percentage basis.

(Multiple Choice)

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Question 72

The _____ clause of a contract describes the course of events that occur if there are unforeseen calamities such as earthquakes or hurricanes that prevent a supplier from fulfilling its obligations to the buyer.

(Multiple Choice)

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Question 73

Once a contract has been negotiated and signed, the real work is over.

(True/False)

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Question 74

The _____ clause of a contract specifies method of manufacture and quality requirements and may include language specific to terms of quality.

(Multiple Choice)

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Question 75

A/An _____ specifies that business units within a corporate organization must buy from specific suppliers during the term of the agreement.

(Multiple Choice)

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Question 76

The _ the term of the purchase agreement, the _ firm fixed-price contracts will be acceptable to the supplier.

(Multiple Choice)

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Question 77

The _____ clause of a contract stipulates the court of law where any disputes will be settled.

(Multiple Choice)

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Question 78

Which of the following is not one of the potential advantages of using long-term contracts?

(Multiple Choice)

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Question 79

A/An _____ generally runs for a 12-month period and may or may not come up for renewal at the end of the year.

(Multiple Choice)

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Question 80

Showing 61 - 80 of 109

The _____ clause in a contract describes how an issue will be addressed if a portion of the agreement is void or unenforceable and which court of law will resolve the difference.

The use of automated online catalogs by major suppliers of MRO items allows users to buy directly from blanket orders and national contracts from their desktops.

A/An _ is similar to a/an _ but allows the addition of items not originally included in the blanket order and may also allow the original purchase order to be extended for a longer term.

Which of the following is not one of the factors to consider when deciding which dispute-resolution mechanism to use?

Taking a dispute into the jurisprudence system should be an automatic step in resolving the dispute, and not viewed as a last resort in resolving contractual disputes.

Perhaps the most compelling reason to consider a short-term contract, from the buyer's perspective, is that such contracts may reduce the level of risk incurred if longer-term contracts are employed.

In a firm fixed price contract, if market prices for a purchased good or service _ the stated contract price, the _ bears the brunt of the financial loss.

Perhaps the simplest method of resolving a contractual disagreement involves straightforward, face-to-face negotiation between the two parties involved.

In global commerce, people assume that the terms of one market are acceptable in another and do not recognize cultural or legal landmines.

A _____ is defined as a purchase that is made on a nonrecurring or limited basis with little or no intention of developing an ongoing relationship with the supplier.

The _____ clause in a contract provides specific details on how the supplier's performance will be measured and if any compensation will be awarded by the supplier to the buyer if these defined levels of performance are not maintained.

With pure ______ contracts, allowable costs are shared between the parties on a predetermined percentage basis.

The _____ clause of a contract describes the course of events that occur if there are unforeseen calamities such as earthquakes or hurricanes that prevent a supplier from fulfilling its obligations to the buyer.

Once a contract has been negotiated and signed, the real work is over.

The _____ clause of a contract specifies method of manufacture and quality requirements and may include language specific to terms of quality.

A/An _____ specifies that business units within a corporate organization must buy from specific suppliers during the term of the agreement.

The _ the term of the purchase agreement, the _ firm fixed-price contracts will be acceptable to the supplier.

The _____ clause of a contract stipulates the court of law where any disputes will be settled.

Which of the following is not one of the potential advantages of using long-term contracts?

A/An _____ generally runs for a 12-month period and may or may not come up for renewal at the end of the year.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policies and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Supply Management and Commodity Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Purchasing Law and Ethics

Lean Supply Chain Management

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Purchasing and Supply Strategy Trends

Filters

Exam 14: Contract Management

The _____ clause in a contract describes how an issue will be addressed if a portion of the agreement is void or unenforceable and which court of law will resolve the difference.

The use of automated online catalogs by major suppliers of MRO items allows users to buy directly from blanket orders and national contracts from their desktops.

A/An _____ is similar to a/an _____ but allows the addition of items not originally included in the blanket order and may also allow the original purchase order to be extended for a longer term.

Which of the following is not one of the factors to consider when deciding which dispute-resolution mechanism to use?

Taking a dispute into the jurisprudence system should be an automatic step in resolving the dispute, and not viewed as a last resort in resolving contractual disputes.

Perhaps the most compelling reason to consider a short-term contract, from the buyer's perspective, is that such contracts may reduce the level of risk incurred if longer-term contracts are employed.

In a firm fixed price contract, if market prices for a purchased good or service _____ the stated contract price, the _____ bears the brunt of the financial loss.

Perhaps the simplest method of resolving a contractual disagreement involves straightforward, face-to-face negotiation between the two parties involved.

In global commerce, people assume that the terms of one market are acceptable in another and do not recognize cultural or legal landmines.

A _____ is defined as a purchase that is made on a nonrecurring or limited basis with little or no intention of developing an ongoing relationship with the supplier.

The _____ clause in a contract provides specific details on how the supplier's performance will be measured and if any compensation will be awarded by the supplier to the buyer if these defined levels of performance are not maintained.

With pure ______ contracts, allowable costs are shared between the parties on a predetermined percentage basis.

The _____ clause of a contract describes the course of events that occur if there are unforeseen calamities such as earthquakes or hurricanes that prevent a supplier from fulfilling its obligations to the buyer.

Once a contract has been negotiated and signed, the real work is over.

The _____ clause of a contract specifies method of manufacture and quality requirements and may include language specific to terms of quality.

A/An _____ specifies that business units within a corporate organization must buy from specific suppliers during the term of the agreement.

The _____ the term of the purchase agreement, the _____ firm fixed-price contracts will be acceptable to the supplier.

The _____ clause of a contract stipulates the court of law where any disputes will be settled.

Which of the following is not one of the potential advantages of using long-term contracts?

A/An _____ generally runs for a 12-month period and may or may not come up for renewal at the end of the year.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policies and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Supply Management and Commodity Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Purchasing Law and Ethics

Lean Supply Chain Management

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Purchasing and Supply Strategy Trends

Filters

A/An _ is similar to a/an _ but allows the addition of items not originally included in the blanket order and may also allow the original purchase order to be extended for a longer term.

In a firm fixed price contract, if market prices for a purchased good or service _ the stated contract price, the _ bears the brunt of the financial loss.

The _ the term of the purchase agreement, the _ firm fixed-price contracts will be acceptable to the supplier.