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Which of the following arrangement would benefit both the contractor and customer?
A construction company often subcontracts approximately 50% of the project works because of unpredictable customer's demand. Although larger corporate customers require quick response to RFQ, the time lapse between tender bid submission and contract commencement is usually long. Which of the following arrangement would benefit both the contractor and customer?A...
Is this a right course of action?
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....
Non-disclosure
Non-disclosureA . 3 and 4 only B. 1 and 4 only C. 1 and 2 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are a number of ways for an offer to be terminated. They are events that may occur after an offer has been made which bring...
Technical and physical characteristics of the product
Technical and physical characteristics of the productA . 2 and 4 only B. 1 and 2 only C. 1 and 4 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are 2 major types of specifications:
Which of the following indicates the ratio between profit and costs?
Which of the following indicates the ratio between profit and costs?A . Gearing B. Margin C. Mark-up D. LiquidityView AnswerAnswer: C Explanation: Mark up is the profit as a percentage of total costs. LO 3, AC 3.3
Which of the following regulates barriers to the trade of goods between Member States of WTO?
Which of the following regulates barriers to the trade of goods between Member States of WTO?A . NAFTA B. GATT C. CISG D. TRIPSView AnswerAnswer: B Explanation: - The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international...
A term can never be implied, it must always be expressed by the parties
A term can never be implied, it must always be expressed by the partiesA . 1,3 and 4 only B. 1, 2 and 3 only C. 1, 2 and 4 only D. 2, 3 and 4 onlyView AnswerAnswer: B Explanation: An implied term is a term which the courts imply...
Which of the following indicates the ratio between profit and costs?
Which of the following indicates the ratio between profit and costs?A . Gearing B. Margin C. Mark-up D. LiquidityView AnswerAnswer: C Explanation: Mark up is the profit as a percentage of total costs. LO 3, AC 3.3
Non-disclosure
Non-disclosureA . 3 and 4 only B. 1 and 4 only C. 1 and 2 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are a number of ways for an offer to be terminated. They are events that may occur after an offer has been made which bring...
Which of the following should be included in the head contract so that Southward can sue IBM, should the need arise?
Southwark is negotiating a contract with Orchard to provide software and IT services. Orchard will manufacture and install the products which are contractually supplied by IBM. Southwark’s procurement manager is worried that during the contract there would be some problems that they would not able to claim for damages from...
