Competitive bids Study guides, Class notes & Summaries

Competitive Bids - ANSWER The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, the vehicle owner selects the facility that will perform repairs. PCPs - ANSWER State Farm uses a continuous survey that gives repairers the opportunity to provide information online. The...

CLC 222 Exam 6 (2024) || Questions & Complete Solutions (Graded A+) CLC 222 Exam 6 (2024) || Questions & Complete Solutions (Graded A+) 6 essential elements of a contract: - ANSWER - 1. Mutual Assent - offer and acceptance; meeting of the minds 2. Consideration - quid pro quo 3. Capacity - mentally capable and adult 4. Lawful Purpose - cannot be illegal 5. Certainty of Terms - unambiguous 6. Form Provided by Law You are required to put ____ provisions and ____ clauses in solicitati...

CPPB Prep Guide Quizzes, CPPB Exam Questions and Answers Already Passed 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...

Corporate Finance - focuses on financial decision making by a firms management Investments - various types of financial instruments (stocks, bonds, etc) Banking or Financial Institutions - make money by paying depositors a smaller interest rate than the interest rate charged to borrowers Treasury Securities - generally bonds that are issued by the US government Corporate Bonds - firms borrowing from the public Stocks - a share of ownership in a company Primary financial markets - markets ...

Corporate Finance - focuses on financial decision making by a firms management Investments - various types of financial instruments (stocks, bonds, etc) Banking or Financial Institutions - make money by paying depositors a smaller interest rate than the interest rate charged to borrowers Treasury Securities - generally bonds that are issued by the US government Corporate Bonds - firms borrowing from the public Stocks - a share of ownership in a company Primary financial markets - markets ...

Sole source, single source and emergency procurements are examples of: A. The best ways of procuring goods and services. B. Non-competitive methods of procuring goods and services. C. Unauthorized procurement methods. D. Procurement methods of questionable value. - B. Non-competitive methods of procuring goods and services. In preparing to write a specification or scope of work, we may want to consider one of two methods of gathering facts or details from potential vendors. We can invite ...

Competitive Bids - The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, the vehicle owner selects the facility that will perform repairs. PCPs - State Farm uses a continuous survey that gives repairers the opportunity to provide information online. The repairer infor...

Certified Federal Contracts Manager (CFCM) Questions with Correct Answers Acceptable methods for disseminating information on proposed contract actions include (FAR 5.101(a) or (b)) - Answer-announcements in magazines at no cost, assisting a local trade association in disseminating information to their members, and synopsis in the government-wide point of entry What is the minimum response time for receipt of bids or proposals for noncommercial item solicitations? FAR 5.203(d) - Answer-30 ...

A "responsible" Contractor - A "responsible" contractor possesses the skill, ability, and integrity necessary to faithfully perform the work; an "eligible" contractor has met the statutory requirements for eligible bidders set forth in M.G.L. c. 30, § 39M. If the lowest bidder is responsible and eligible, you will award the contract to that bidder A cost reimbursement contract - Because of the need to monitor and verify the vendor's expenditures, a cost reimbursement contract requir...

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 - correct 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 suppl...