Certified Texas Contract Developer (CTCD)Correct Questions & Answers!!

Legal Elements of a Contract - ANSWER • Offer • Acceptance • Legal Purpose • Mutuality of Obligation • Certainty of Subject Matter • Consideration • Competent Parties The essential provisions that must be included in every contract - ANSWER • Scope of work, • Financial provisions (e.g., price and payment terms), • Contract term and termination provisions, and • Identification of the contracting parties. TRUE/FALSE - After contract award, the bid tabulation must be available for release through the Texas Public Information Act. - ANSWER TRUE - After contract award, the bid tabulation must be available for release through the Texas Public Information Act. Acquisition Plan - ANSWER The objective of the Acquisition Plan is to ensure that the procurement is solicited, negotiated, executed, and managed in a way that delivers best value to the State. The Acquisition Plan identifies: - ANSWER •the procurement team (including the Contract Developer, Contract Manager, and end user), •the team's roles and responsibilities, •the schedule of events, as well as the activities necessary to ensure that the contract requirements are satisfied, •the goods and services are delivered in a timely manner, and •the financial interests of the agency are protected. Major Consulting Services Contract - ANSWER the value of the contract will exceed $15,000 for a state agency or $25,000 for an institution of higher education Major Information Resources Project - ANSWER • specifically designated as such by the Legislature in the General Appropriations Act; or • identified in an agency's biennial operating plan whose development costs exceed $1 million and that • requires one or more years to reach operation status; • involves more than one state agency;