NIGP CPPO UPDATED Exam Questions And 100% Correct Answers

Suretya pledge or guarantee by an insurance company, bank, individual or corporation on behalf of a bidder or offeror which protects against default or failure of the principal to satisfy the contractual obligations. accountabilityThe principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. acceptance1. 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 contract to the terms and conditions of that contract. 4. The act of receiving by an authorized representative with the intention or retaining.