NIGP - CPP 2022/2023 with complete solutions already graded A

You are leading the 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? Legal or statutory requirements You are leading the 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? Performance bond 00:00 01:22 Which type of contract pricing is appropriate when market or labor conditions are unstable over an extended production period? Fixed price with escalation Statutes, ordinances, charters, rules, regulations, policies and procedures are all examples of: Contract terms and conditions The Statute of Frauds is a 1677 device passed by the English Parliament and carried down to us by common law and the actions of state legislatures that: Requires certain promises and agreements to be evidenced in writing The three types of competition found in the market place are: Pure, imperfect and monopoly What is the bidder's obligation when a bid that was accepted by the agency contained minor clerical errors? The bidder must perform the contract. Price fixing, bid rigging and restraints of trade are prohibited by this first of its kind federal act. Sherman Anti-Trust Act Assignment clauses are often included in solicitations and contracts. What are they and why do we need them? Assignment allows either party to assign or transfer their rights, obligations, or property to another. We need them in case the contracted party terminates service by going out of business or can't fulfil their obligation but can replace with a suitable substitution preventing the ending the agreement. A good bid specification does all of the following except: Allow the vendor to choose which requirements he will meet. Language that covers changes, disputes and breach procedures is included in agreements between parties to protect against: Contractual risk 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? Fixed-price incentive