Method of sealed bids - Study guides, Class notes & Summaries

Agent correct answer: Authorized to act on behalf of someone else. Vendor correct answer: A supplier of goods and/or services. Bid correct answer: An offer to contract with the state. Scheduled Purchase correct answer: A type of purchase method used to order goods in bulk. Best and Final Offer (BAFO) correct answer: The result of final negotiations with responsive vendors during the Request For Proposal (RFP) process. Sealed Bid correct answer: A formal written bid opened in...

CIPS - L4M3 Commercial Contracting - CHAPTER 1Difference between Estimate, Quote and Tender (1.1, p. 2) - correct answer Estimate = has no legal standing, simply a 'best guess' by the supplier. *NOT a firm offer*. should be avoided within a commercial contract Tender / Quotation = *both are firm offers* to do something at a quoted rate or price. Tenders are more comprehensive / detailed. Quotation (1.1, p.3) - correct answer - normally used when the only variable is price - T/Cs are of...

NIGP Terms Volume III Exam Questions and Answers Advance Payments - Answer-Agreed upon disbursements between buyer and seller made prior to the delivery of the contracted goods and services. Payments may be for a stated amount or for a percentage of the purchase price. Sometimes referred to as Cash in Advance. Agreement - Answer-An understanding between two or more parties in which they state a common understanding and intention regarding past or future intentions or facts, sometimes with a...

An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER-standardization A buyer has been invited to join a supplier account rep for lunch to discuss the performance of a contract. How should the buyer respond to the invitation? A. decline the supplier's o...

An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER standardization A buyer has been invited to join a supplier account rep for lunch to discuss the performance of a contract. How should the buyer respond to the invitation? A. decline the supplier's o...

CPPB Exam Complete Questions and AnswSurety - ANSWER A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - ANSWER the principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome. acceptance - ANSWER 1. Indication that all parties to the contract agree to be bound by the terms of the contract. 2. An indicat...

CPPB Prep Guide Quizzes, CPPB Exam | FULL TESTBANK | latest 2023/24 An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - standardization A buyer has been invited to join a supplier account rep for lunch to discuss the performance of a contract. How should the...

Surety - ANSWER A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - ANSWER the principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome. acceptance - ANSWER 1. Indication that all parties to the contract agree to be bound by the terms of the contract. 2. An indication by one party of a willingness to ...

Auctioneer Exam Questions And Answers Auction - ANS method of sale of real or personal property, goods, or chattels, at a predetermined date and time, by means of verbal exchange, regular mail, telecommunications, the internet, an electronic transmission, or a physical gesture between an auctioneer and members of the audience Auctioneer - ANS any person who engages or who by advertising or otherwise holds the person out as being able to engage in the calling for recognition of and t...

CPPB Exam Questions and Answers 100% CorrectCPPB Exam Questions and Answers 100% CorrectCPPB Exam Questions and Answers 100% CorrectCPPB Exam Questions and Answers 100% Correct Surety - ANSWER-A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - ANSWER-the principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the o...