Ad-Hoc Purchase - correct answer An item bought for a single and non-recurring use or purpose
Alternative Dispute Resolution (ADR) - correct answer
... [Show More] Any method of resolving a dispute between two parties which does not involve court action, including escalation to higher levels of authority, mediation, adjudication and arbitration
Articles of Incorporation - correct answer The legal document creating a commercial company and setting out its purpose
Base Year - correct answer The starting point for an index, at which point the index is set to 100
Battle of the Forms - correct answer A series of forms such as orders, delivery notes, etc., issued in sequence by purchaser and supplier, each containing terms that appear to override those on the previous document
Bespoke - correct answer Made or provided especially for a specific end user
Bribery - correct answer The promise, offer or giving of the financial advantage to someone in the expectation that they will improperly perform their functions, or to reward them for having done so; also accepting such a promise, offer or advantage (whether or not the function is improperly performed)
Category - correct answer A group of goods or services that have shared characteristics
CISG - correct answer The Vienna Convention on Contracts for the International Sale of Goods, a United Nations treaty seeking to harmonize contract terms for the sale of goods between different countries
Closed System - correct answer A system or process that, once started, does not allow new entrants. A framework agreement might have multiple buyers and multiple suppliers, but once set up, no additional buyers or suppliers can be added to it.
Code of Practice (CoP) - correct answer A set of written rules explaining how people working in a particular profession should behave. Sometimes related to particular professions, they may equally relate to anyone working in a given environment or carrying out a particular function
Collusion - correct answer Where two or more potential suppliers (or the purchaser and one or more suppliers) secretly co-operate to undermine the competitiveness of a tender process
Conflict Minerals - correct answer Metals and minerals sourced from areas where their mining is used to finance armed conflict and is linked to human rights abuses and corruption. The most commonly recognized ones are tin, tungsten, tantalum and gold
Contracting State - correct answer A country which has signed the Vienna Convention on CISG
Corruption - correct answer A wider term than bribery, includes any improper performance of function in return for some kind of advantage which may or may not be financial, e.g., facilitation payments, nepotism (favoring of family members), or career promotion. Both the providing and receiving of the advantage are corrupt practices.
Debt-Bondage - correct answer A person's pledge of labour or services as security for the repayment of a debt or other obligation, where there is no hope of actually repaying the debt
Defects - correct answer Any aspects of delivery that do not match the specification
Defendant - correct answer The person defending a claim brought against them
Developing Economy - correct answer A national economy which is generally held to be still developing its industrial base, financial institutions and economic infrastructure
Diminished Capacity - correct answer A person's inability to enter a contract, e.g., because they are a minor, are suffering from mental health issues, or are under the influence of drugs
Direct Call Off - correct answer The actor placing an order under a framework agreement without having further competition
Disincentive - correct answer Something which discourages a particular action or behavior
What is stage 1 of the CIPS procurement cycle? - correct answer Understanding the need and developing a high- level specification [Show Less]