CIPS Level 3 Advanced Certificate in Procurement and Supply Operations L3M4 Question # 27 Topic 3 Discussion
L3M4 Exam Topic 3 Question 27 Discussion:
Question #: 27
Topic #: 3
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'?
A.
It avoids the requirement to create complex contracts each time but can be adapted to suit particular circumstances
B.
Incentive payment terms can be included to reward the supplier for attainment of cost savings
C.
Legal advice is still required if significant amendments or variations are to be made to the contract
D.
Formulae or indices can be included to assess any additional supplier's claims for contract price adjustment
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