CPPB Prep D.N. Questions
Name two methods or things to consider in dealing with tie low bids, both of whom are responsive and responsible.
1. Coin toss 2. Hat draw
Our political bosses sometimes mandate that we address particular social issues through the public procurement process. Name three such issues that we may encounter.
1. Increasing vendor diversity 2. Sourcing "green" or environmentallysustainable products/services 3. Local business preference
It's been said that an ounce of prevention is worth a pound of cure. Name three actions that we might take, either pre or post contract award, to prevent the need to ever issue a cure notice. Note: do not walk through the steps taken immediately prior to a cure notice.
1. Post-award/start-up conference 2. Monitor contract performance 3. Inspection
There are about 20 negotiation tactics named in the literature and prep guides such as win/win and good cop/bad cop. Other than these two, name three others and what they mean.
1. Spiraling agreements - reach an easy agreement that's not related to the main objectives, and build piece by piece on this agreement towards the main objectives. 2. Splitting the difference - cutting the dollar difference in half. 3. Making the cake bigger - without changing the terms, offer attractive alternatives to the other party.
When procuring software, one of the important areas to consider is the concept of source code escrow, which is the holding of the code used to write the software by: A. The software vendor. B. A neutral third party. C. The agency in a sealed envelope inaccessible to theIT department. D. The Source Code repository of the U.S. government.
A neutral third party.
What's the difference between a protest and a dispute?
A protest challenges the award or proposed award of a contract. The dispute is an issue or disagreement with the contracting officer that arises after you have won and been awarded a contract.
Indemnification clauses are added to our terms and conditions to protect the agency from: A. The acts of the vendor B. The acts of the agency C. The acts of third parties D. The acts of our customers
Acts of the vendor
A good bid specification does all of the following except: A. Allow the vendor to choose which requirements he will meet. B. Identify the minimum requirements. C. Allow for maximum competition. D. Identify testing methods to determine compliance.
Allow the vendor to choose which requirements he will meet.
A contract administrator's duties are normally performed by: A. A hired consultant. B. An employee within the agency. C. A contract manager from a nearby agency. D. The purchasing department manager.
An employee within the agency.
In a negotiation meeting, you notice that the contractor's proposed project manager starts to frown each time the topic of milestones is talked about. What should you do? A. Assume that the proposed milestones are too aggressive. B. Ask the contractor if he can meet the proposed milestones. C. Offer to change the milestones. D. Mention that the milestones are not negotiable.
Ask the contractor if he can meet the proposed milestones.
Procurement Director to buyer: "The mayor just called and he wants the Hansen project expedited. Take care of it." Buyer to Hansen contractor: "How's it going?" Hansen contractor: "Great. Everything's going well and delivery is on schedule." Buyer: "Glad to hear it. I'll check back with you again in a week or so." What specific term defines what the buyer has done? What is the definition of what he should have done, based on the instructions from the procurement director?
Buyer did followup, should have expedited.
Careless County recently lost an important court case in the State Supreme Court. The court decision will now impact every county in the state, and the decision may be used to argue other cases as well in other jurisdictions in the future. The type of law developed through court case decisions is known as: A. Administrative Law B. Statutory Law C. Common Law D. Contract Enforcement Law
Common Law
The ABA Model Procurement Code lists six methods of source selection. Name any three of them. Extra credit for all six.
Competitive sealed bids Competitive sealed proposals Small purchases Sole source Emergency Special
What is outsourcing? Name something good or bad about it.
Contracting with an outside entity to obtain goods or services that were traditionally made or performed "in-house". Good: outsourcing can be done at a lower cost. Bad: security risks, including loss of data or confidentiality
Language that covers changes, disputes and breach procedures is included in agreements between parties to protect against: A. Surety risk B. Contractual risk C. Cancellation risk D. Proposal risk
Contractual risk
Name three basic types of files that should be maintained by a procurement office.
Correspondence Solicitation Written Agreements
Name three basic types of files that should be maintained by a procurement office.
Correspondence, Solicitation and Written Agreements
What part of public contracting law does "collusion" represent? A. Administrative Law B. Law of Agency C. Criminal Law D. Tort Law
Criminal Law
A warehouse manager received a bill charging him $200 related to demurrage. What is demurrage and/or why did he get charged?
Demurrage are fees or penalties that are incurred when free time for taking delivery is exceeded. In this instance, it's likely the warehouse manager didn't unload a truck or container in a timely fashion.
The extent to which the procurement function provided the needed goods and services within acceptable quality standards is known as: A. Efficiency B. Effectiveness C. Procedural compliance D. Economy
Effectiveness
The extent to which the procurement function provided the needed goods and services within acceptable quality standards is known as: extent to which the procurement function provided the needed goods and services within acceptable quality standards is known as: A. Efficiency B. Effectiveness C. Procedural compliance D. Economy
Effectiveness
Which of the following is an alternative to using bidder/source lists? A. Electronic bid boards B. Past qualification of vendors C. Sole source purchasing D. Pre-qualification of vendors
Electronic bid boards
Provide an example of something that has changed in the public procurement world in the past 5-10 years and describe the impact, either positive or negative.
Electronic bid boards - impact has been positive, Solicitations are exposed to a wider variety of bidders and increased competition, and it's generally easier for bidders to obtain bid documents.
Given the economic and political environment in which most agencies must operate, what is the most effective structure for governmental procurement agencies? A. Providing a completely centralized workforce. B. Delegating unwanted responsibilities to using agencies. C. Establishing a combination of centralized and decentralized operations. D. Establishing an ad hoc decentralized process.
Establishing a combination of centralized and decentralized operations.
A buyer has been working on a solicitation for several days. Now the end users have requested that the buyer mail the bid only to local vendors. How should the buyer respond to this request? A. Add language to the bid that only local vendors can submit proposals B. Explain that agency procedures require that all bids be electronically posted to allow for open and fair competition C. Explain that he can only put "Buy America" language in bid specifications D. State that the WTO requires the agency to support the NAFTA program
Explain that agency procedures require that all bids be electronically posted to allow for open and fair competition
Under which of the following does the agency own the goods in transit? A. FOB destination, freight collect B. FOB destination, freight prepaid and added C. FOB destination, freight prepaid and allowed D. FOB origin
FOB origin
True or false. Joint bid purchases and piggyback purchases are the same thing. Explain your answer.
False. Joint bid purchases means that multiple entities have joined forces to submit a bid in hopes of obtaining better bulk pricing. Piggyback purchases means that an entity has already obtained a contract and another entity would like to complete a purchase under that contract.
Agencies not following their process, lack of clarity in bid documents and a perception of not being fair are some of the reasons vendors give for: A. Not registering with the agency B. Not responding to solicitations C. Ignoring phone calls and emails D. Filing protests of awards
Filing protests of awards
The four types of fixed price contracts are: A. Firm, percentage, incentive and escalation. B. Firm, escalation, incentive and redetermination. C. Percentage, escalation, redetermination and firm. D. Cost sharing, escalation, incentive and percentage.
Firm, escalation, incentive and redetermination.
Which type of contract pricing is appropriate when market or labor conditions are unstable over an extended production period? A. Fixed price incentive B. Cost plus a fixed fee C. Firm fixed price D. Fixed price with escalation
Fixed price with escalation
A university is prepared to sign a contract to add 10 classrooms for a new program. Registration for the program will begin in 9 months if the project is completed on time and 6 months if the contractor completes the project early. During the negotiations, the university offered the contractor an additional $50,000 to complete the project in six months. What type of contract pricing is the university using? A. Fixed-price with redetermination B. Fixed-price incentive C. Cost sharing D. Cost plus fixed fee
Fixed-price incentive
What is the difference between the terms follow-up and expedite?
Follow-up means you are simply checking on the status of an order. Expedite means you are checking to see if the order can be shipped sooner.
What is meant by the term force majeure; where are we likely to find it written and what is its impact on the parties?
Force majeure is a natural, unavoidable catastrophe that disrupts the regular course of events. In a contract situation, this may suspend the parties' duties during the force majeure event - or it could release the parties from fulfilling the contract. It's likely to be found in a force majeure clause written into the contract, and should delineate what is considered a force majeure event
Performance specifications are also known by this name, which may be said to contain a word that is associated with "good times."
Functional Specifications
Explain the difference between general and special terms and conditions in a solicitation document.
General terms and conditions are the overall terms and conditions of the organization. Special Terms and conditions are specific to the solicitation
A buyer for a governmental entity ran into the IT director in the break room while having a cup of coffee. The IT director is a new hire from the private sector. He indicated that he was planning a large purchase of external hard drives for use in the various offices. What should the buyer do with this information? A. Go back to his office and make a written note of the discussion, then wait for the requisition to be submitted by the IT director. B. Go back to his office and send the IT director an email recapping the discussion and requesting that he send a requisition with specifications. C. Make a mental note, tell the Purchasing Director about the conversation, then wait for the requisition to be submitted by the IT director. D. Make a mental note, tell the IT director to send over a request and go back to his office and wait for the requisition.
Go back to his office and send the IT director an email recapping the discussion and requesting that he send a requisition with specifications.
A buyer for a governmental entity ran into the IT director in the break room while having a cup of coffee. The IT director is a new hire from the private sector. He indicated that he was planning a large purchase of external hard drives for use in the various offices. What should the buyer do with this information? A. Go back to his office and make a written note of the discussion, then wait for the requisition to be submitted by the IT director. B. Go back to his office and send the IT director an email recapping the discussion and requesting that he send a requisition with specifications. C. Make a mental note, tell the Purchasing Director about the conversation, then wait for the requisition to be submitted by the IT director. D. Make a mental note, tell the IT director to send over a request and go back to his office and wait for the requisition.
Go back to his office and send the IT director an email recapping the discussion and requesting that he send a requisition with specifications.
Although extensive planning may have taken place for a strategic plan, sometimes these plans can fail. Which of the following is a reason that might be the cause of a strategic plan failure? A. The strategy was defined correctly B. Goals were not stated in clear quantifiable terms C. Strong commitment to planning D. Reliance on forward thinking
Goals were not stated in clear quantifiable terms
Article 2 of the UCC is often considered to be the most important section to the public procurement official because it: A. Provides guidance for contract interpretations. B. Establishes life cycle costing formulas. C. Governs contracts for the sale of services. D. Governs contracts for the sale of goods.
Governs contracts for the sale of goods.
Your agency needs to construct a new high school. What's the difference between using the design-bid-build method versus design-build? Extra credit for explaining CM (construction manager) at risk.
In design-bid-build, the designer and general contractor are completely separate entities; the design and construction aren't integrated and are bid and implemented separately. This can result in a longer completion time. Design-build is typically a joint venture between general contractor and designer; there's only one contract with the design builder and one point of contact, and the project can move faster as construction can begin work while design is in process. Construction Manager at Risk (CMAR) adds a new layer to the design-bid-build method. The CMAR essentially acts as the owner's consultant in the pre-development phase, and is responsible for hiring/contracting the subs.
We often hear the term "level playing field" being mentioned in public procurement. What does it mean and why is it important?
It means being fair and transparent. All procurement actions and decisions should be unbiased. There shouldn't preferential treatment (or even the appearance of preferential treatment) to suppliers or individuals. A fair procurement process gives suppliers confidence, which encourages them to participate in more public procurements. This leads to more competition, which creates greater value for government.
What is meant by the expression, "it doesn't pass the newspaper test?"
It's an ethics test/standard. "How would this look on the front page of the newspaper?" If you or the agency would be embarrassed - DON'T DO IT.
An agency is revising its document retention schedule. Where should the government entity look for guidance? A. The Federal Acquisition Requirements. B. Legal or statutory requirements. C. The Universal Commercial Code D. Common Law
Legal or statutory requirements.
You've opened some bids and identified the lowest responsive/responsible bidder. However, due to internal issues in the using department, several months have passed without the award being made. Before pressing on, what action, if any, should be taken with the low bidder?
Making sure that the pricing has not changed.
A buyer is charged with purchasing diesel fuel for a transit system. What type of study should be conducted to determine how best to make this purchase? A. Value analysis B. Vendor selection C. Demand analysis D. Market analysis
Market analysis
The City just finished negotiations on a $35,000,000 contract for software implementation services. It is expected that it will take three years for the software to be completely installed and accepted. What type of payment mechanism would be the most appropriate? A. Progress payments B. Partial payments C. Milestone payments D. Completion payments
Milestone payments
Failure of a bidder to return the number of signed copies requested, failure of a bidder to acknowledge receipt of an addendum or failure to execute a required certificate are often considered: A. Deal-breakers B. Responsiveness issues C. Minor irregularities D. Major irregularities
Minor irregularites
The service contract to provide transportation for seniors will expire within thirty calendar days. The human services department is requesting that the contract be renewed at the same prices, terms, and conditions for an additional year because the provider has delivered exceptional service. You review the contract and advise the department that the contract cannot be renewed. What is the basis for denying the renewal? A. No performance evaluations have been completed on the contractor. B. Service segmentation of needed transportation services is being discussed by the agency. C. No contract renewal clause is included in the original contract. D. No transportation master plan is included in the statement of work.
No contract renewal clause is included in the original contract.
Taking into consideration what the Law of Agency says, is it possible for someone to be both a principal and an agent at the same time? Explain your answer.
No, because principals have a duty to pay the agent a fee, or compensate the agent for reasonable expenses. Principals can't be agents and pay/compensate themselves. That's the least of the issue. Couldn't a principal in one transaction act as an agent for someone else in another transaction?
Sole source, single source and emergency procurements are examples of: A. The best ways of procuring goods and services. B. Non-competitive methods of procuring goods and services. C. Unauthorized procurement methods. D. Procurement methods of questionable value.
Non-competitive methods of procuring goods and services.
A vendor who tries to enter into a contract without an appropriate and required license to perform work should be considered a: A. Non-responsive bidder. B. Non-responsible bidder. C. Non OSHA bidder. D. Non QPL bidder.
Non-responsible bidder.
Bid responses that fail to meet the essential elements of the ITB, do not conform to the specifications or have been submitted by a debarred vendor are considered: A. Non-responsible B. Non-negotiable C. Non-responsive D. Non-acceptable
Non-responsive
Upon arrival of an order, a buyer inspects the goods on the delivery dock and finds them to be nonconforming to the purchase order specifications. The buyer should consider which of the following options: A. Obtain conforming goods from another source and charge the delinquent supplier the difference. B. Sue the vendor in court. C. Have the agency attorney contact the vendor. D. Note the exception on the packing list, refuse the delivery and contact the supplier immediately.
Note the exception on the packing list, refuse the delivery and contact the supplier immediately.
Under the Uniform Commercial Code, the failure of a seller to deliver contracted goods would allow the buyer to: A. Obtain them from the next lowest bidder. B. Obtain them at the current market price and charge the seller the difference. C. Cancel the contract and rebid. D. Invoke liquidated damages.
Obtain them at the current market price and charge the seller the difference.
There are six (6) elements of a contract. List any three and what they mean. Extra credit for all 6.
Offer: A response to a solicitation, that if accepted would bind the offeror to perform the resulting contract Acceptance: 1. Indication that an offeree is bound by the terms of the offer 2. An indication by one party of a willingness to act in accordance with the contract or offer. 3. The assumption of a legal obligation by a party to a contract to the terms and conditions 4. The act of receiving by an authorized representative with the intention of retaining. Definiteness: The important or material, terms of an agreement, which are specifically expressed. Specificity is required because agreements that are vague cannot be enforced. Legal Consideration: Something of consideration which is exchanged between parties that serves to form or bind a contract. Generally, this is considered an exchange of money for goods or services. While money is generally thought of as legal consideration it is not the only form of consideration. The provision of assets, goods or services in exchange for assets, goods or services may also be provided as legal consideration. Mutuality of Obligation: All the parties to an agreement are obligated or none of the parties is obligated. There may be more than two parties obligated in an agreement. Competent Parties: These are classes of persons that the law deems are capable of entering into an agreement. Persons who are capable of making an independent decision are deemed to be in the class of person considered competent parties. Issues considered when determining competence may include: Age of the party/if the party is under the influence of substances/if the party was under duress at the time of the agreement.
A supply contract has been awarded to the same contractor who has won this contract in the past. The Project Manager vigorously opposed this award, stating that the contractor did not perform satisfactorily on past contracts. When the Contract Administrator asked for the Project Manager's records to support his statements, the Project Manager could not produce them. What should the Project Manager use to avoid a repeat of this problem on the new contract? A. Contract Administration Plan B. Performance Assessment Plan C. Contract Closeout Checklist D. Surveillance Techniques
Performance Assessment Plan
Telling a contractor what is an expected outcome and leaving the how-to up to them is the basis of: A. Managed competition B. Make-or-buy decision C. Performance Contracting D. Competitive Sealed Bidding
Performance Contracting
You are leading a procurement for a new enterprise resource planning IT system that will be deployed across the entity. Proposers likely will use various subcontractors for integration, project management, and training. The users have expressed concern about financial viability of the successful contractor; the entity does not have the financial resources to mitigate risk from a default. What requirement would best protect the entity? A. Submission of financial statements B. Professional liability insurance C. Payment bond D. Performance bond
Performance bond
In public contracting, competency refers to: A. Persons representing the vendor. B. Persons of any age entering into a contract. C. Only procurement officials. D. Persons mentally capable and of the age as allowed by law.
Persons mentally capable and of the age as allowed by law.
A company has formally requested a debriefing on why it was not awarded the contract to provide multi-media advertising services. How will the procurement professional prepare for this meeting? A. Prepare a spreadsheet showing the scores and ranks of all of the proposals to provide to the company. B. Make copies of all the scores sheets for the company. C. Prepare a point by point comparison of the company's proposal with all of the other proposals. D. Prepare a listing of the significant strengths and weakness of the company's submitted proposal.
Prepare a listing of the significant strengths and weakness of the company's submitted proposal.
What's the difference between a partial payment and a progress payment?
Progress payments are not considered acceptance of work, whereas partial payments are.
Well written specifications, proper language and legal terms are all things that we add to our solicitations and contracts in order to protect the agency from this type of risk. A. Proposal B. Price C. Contractual D. Surety
Proposal
Name three things that we do in procurement to maintain transparency.
Provide bid tabs Public bid openings Provide planholder lists
The three types of competition found in the market place are: A. Inexact, impure and monastic B. Exact, pure and monopoly C. Exact, pure and monotheistic D. Pure, imperfect and monopoly
Pure, imperfect and monopoly
As part of an initiative to handle the 'slip and fall' cases filed against the entity, the Legal Department would like to engage a firm of medical professionals to provide examinations of the plaintiffs, expert analysis of the plaintiff's injury claims and their medical records. Experience and results are the main considerations for the award. Which solicitation method is recommended and why?
RFP, because you can use criteria other than price, such as experience and results, in making an award.
One of the greatest benefits of using procurement cards is: A. Improved accountability to management. B. Considerable reduction in the time needed to identify errors. C. Reducing the cost of doing business, while preserving purchasing controls. D. Freeing employees from time-consuming creative tasks.
Reducing the cost of doing business, while preserving purchasing controls.
Program budgets: A. Relate expenditures and revenues to each other. B. Relate expenditures and revenues to public goals. C. Relate expenditures and revenues to workloads. D. Relate expenditures and revenues to line item accounts.
Relate expenditures and revenues to public goals.
Value analysis is the effort to analyze the function of systems, products, specifications, standards, practices and procedures to: A. Validate and ensure that the low bid is the best bid. B. Satisfy the required function most economically. C. Encourage procurement stay abreast of the market and surveys. D. Centralize the purchasing function.
Satisfy the required function most economically.
A byproduct of centralized purchasing is: A. Seen in product and/or service standardization. B. The minimal use of sole source contracts C. An increased abuse of the system. D. The required use of the life cycle costing method.
Seen in product and/or service standardization.
Price fixing, bid rigging and restraints of trade are prohibited by this first of its kind federal act. A. Federal Trade Commission B. Adam Clayton Powell Act C. Sherman Anti-Trust Act D. Robinson-Patman Act
Sherman Anti-Trust Act
Off-the-shelf, commercially available and ready-made are all terms associated with: A. Design specifications B. Qualified Products Lists C. Standard specifications D. Custom specifications
Standard specifications
Several divisions within a government entity purchase equipment to do similar work. Each division has its favorite type of equipment. What process would increase efficiency and savings across the divisions? A. Use of p-cards B. Cooperative purchasing C. Standardization D. Bench-marking
Standardization
If considering contract termination, the agency should first: A. Take punitive action against the contractor. B. Stop accepting delivered products or services offered by the contractor. C. Start a file that documents the conflicts. D. Notify the authorities.
Start a file that documents the conflicts
Name five things that are commonly found on a purchase requisition.
Supplier Buyer Purchasing Agent signature Item No. & Description Quantity, price
Indemnification, workers' compensation insurance and bonds are examples of things we include in our solicitations and contracts to deal with what type of risk? A. Proposal B. Surety C. Schedule D. Contractual
Surety
The agency has just awarded a contract for cleaning services in the headquarters building. It is very important that the cleaning be done in a professional manner since this is a high visibility area and receives a lot of the senior staff traffic throughout the day. The contract was very detailed as to the standards to be met. What can the Contract Administrator include in the performance assessment plan to ensure compliance with the performance standards? A. Value analysis B. Surveillance techniques C. Progress meetings D. Final inspections
Surveillance techniques
Which of the following types of contracts establishes a source of supply and pricing for specified items or services for a specified period? A. Competitive price contract B. Fixed price contract C. Term contract D. Service contract
Term contract
A county has a multi-year contract to provide land use planning services for a forthcoming park renovation. Due to a severe funding shortage, all non-critical services have been put on hold for a year (at the earliest). The county has decided to cancel the contract and re-solicit the services when funding is available. Which of the following is the best cancellation method? A. Termination for Default B. Issuance of a Cure Notice C. Termination for Convenience D. Issuance of a Notice of Suspension
Termination for Convenience
Privity of contract deals with: A. The parties to a contract having the right to enforce it B. A party having the right to submit a bid C. A party having a right to reject an offer D. The parties having the right to cancel a contract
The parties to a contract having the right to enforce it
The benefit of using a fixed-price with escalation contract would be: A. The vendor is protected against unusual price increases. B. The buyer has less contract administration to deal with. C. The vendor has increased contract risk and the buyer has decreased contract risk. D. The buyer can change the escalation indexation at any time during the contract.
The vendor is protected against unusual price increases.
Under the shipping term FOB shipping point: A. The seller routes the shipment. B. The seller is responsible for filing claims for any loss or damage. C. Title passes to buyer when the goods are received. D. Title passes to buyer when the goods leave the supplier's dock.
Title passes to buyer when the goods leave the supplier's dock.
The courts will always interpret ambiguous contract terms: A. To favor the party who wrote the contract. B. To carry out the intentions of both parties to the contract. C. To favor the party who points out the ambiguity. D. To carry out the wishes of third parties.
To carry out the intentions of both parties to the contract.
Which of the following is not an essential purpose of inspection? A. To determine if the product should be stored in a warehouse system. B. To ensure the quality of the goods received. C. To verify that product specifications have been met. D. To protect the using agency from receiving unacceptable goods.
To determine if the product should be stored in a warehouse system.
During the planning stage of a procurement engagement, an entity client wanted to buy a mid range printer. They then decided that a printer/copier/scanner/fax might be better, but they aren't sure if it's worth the price. What tool can help make the determination? A. Value analysis B. Market survey C. Price analysis D. Cost analysis
Value analysis
Your agency's procurement manager has asked you to recommend an approach to an upcoming procurement for drug addiction counseling services. Which of the following possibilities would you put forward as the best approach? A. Develop a detailed specification as to how the contractor must provide the services B. Issue national standards for drug addiction counseling services to all potential respondents C. Work with the using department to develop performance measures you will use to ensure that the contractor meets the needs of the using department. D. Ask the using department for a list of drug addiction counseling protocols that they would be comfortable with.
Work with the using department to develop performance measures you will use to ensure that the contractor meets the needs of the using department.
Please put these items in their normal, proper sequence (not your agency's sequence): Addendum; Closing date; draft solicitation review by department; short-listing; Board/commission approval of award; oral presentations by vendors.
draft solicitation review by department Addendum Closing date short-listingoral presentations by vendors Board/commission approval of award
Surety in some form protects an agency against non-performance by a contractor. Other than any kind of bond you can possibly think of, any type of insurance you can possibly think of or liquidated damages, name two methods by which a contractor may provide surety to an agency. Hint: think of things of value that a vendor might be able to give us.
equipment real property cash securities money order letter of credit
A warranty given orally or in writing is known as an _____________________________.
express warranty
A warranty that exists because of an elaborate brochure found in the box when it was opened is known as an ____________________________.
express warranty
A warranty that exists because the vendor provided the agency with a sample is known as an _________________________________.
express warranty
A warranty (full name) that exists because an agency relied on the vendor's knowledge of the agency's exact needs is known as an __________________________________.
implied warranty of fitness
A warranty (full name) that exists because a vendor sells goods that meet some industry standard is known as an _________________________________.
implied warranty of merchantability
There are six types of risk associated with any solicitation or project. Name any three of them and what they mean. Extra credit for all six.
• Proposal Risk: describing the item of servicepurchased through specifications and legaldocument(s) • Surety/Liability Risk: protecting the financial andlegal interests of the agency • Schedule Risk: ensuring timely delivery • Contractual Risk: establishing change/amendmentprocedures, dispute resolution, and breachprocedures • Performance Risk: defining acceptance • Price Risk: defining payment terms
