L3M4 Exam Dumps : Team Dynamics and Change

Contract terms are statements by the parties to the contract as to what they understand their rights and obligations to be under the contract. It is important from the outset that there is a genuine agreement between the parties as to what the contract terms are. After the contract has been made, it is too late for either party to alter its terms unilaterally. Which of the following is another role that negotiated contract terms might play?

Which of the following approaches could a purchasing organisation use to reduce the level of detail in a specification, without increasing the risk of an unsuccessful procurement process?

Increase the use of acronyms and abbreviations

Cross-refer to recognised industry standards

Require tendering suppliers to propose specifications

Provide samples to demonstrate the requirements

A construction company wishes to place the contract for the building of a new hotel with a principal contractor using a model form contract. Which of these is an advantage of using a 'model form contract'?