ExamFOCUS Study Notes for the Commercial Contract Management Exam

This book has been updated in Apr 2024. A CCCM is expected to possess knowledge as a contract manager as it relates to the training & knowledge of the Uniform Commercial Code UCC. The exam has many questions on the various UCC Articles plus some general commercial contracting elements. UCC Articles 1, 2 and 2a, 3, 4 (including 4a) and 6...etc. Some other UCC articles are covered as well. And there are some general commercial contracting elements. Table of Contents (contents updated Apr 2024) Intellectual Properties, Trademarks and Copyrights 1 Contents Update 2 Exam topics covered in this book 2 Overview of UCC versus contract law 6 UCC article 1 and 2 7 Definitions … 10 Contract form 13 Purchasing organization, contractor and employee 15 Pre-award activities VS post-award activities 16 Acquisition Planning 19 Overview 19 Requirements and considerations 20 Supplier pre-qualification 21 Source selection plan 22 Other tools and methods for procurement 23 RFP in–depth 27 Common procedures for placing orders 30 A typical tendering and bid evaluation process 33 Managing Business Contract 36 The most popular fixed price contract types 36 The most popular cost contract types 37 Other popular contract types 38 Contract negotiation 39 Contract management and administration 43 Specifications 47 Delivery or performance schedule requirements 49 Contract compensation and financing 49 Liquidated damages and parent company guarantees 52 Long stop dates, compensation events and relief events 53 Contract monitoring, special changes and acceptable performance 55 Concern on subcontracting and the step in rights 57 Contract closeout 59 The NCMA Code of Ethics 60 Moral turpitude 61 Anti-Trust 62 Payment for international trade 64 Business contract legal elements 71 Overview 71 Contract language, signatures and forms 72 Capacity and insanity 73 Legal authority 74 Source of law and jurisdiction 75 Offer, acceptance, and invitation to treat 79 Consideration 81 Discharging or invalidating a contract 83 Contractual mistakes 86 Contract interpretation 87 Breach of contract and possible defenses 89 Damage recovery 91 Measuring damages 92 Void Contract, voidable contract, and unenforceable contract 94 Misrepresentation and mistake of facts 95 Setting the order of precedence 96 Entire agreement 96 Contract exhibits 97 Time clause 98 Rewards 98 Incorrect payments 99 Inspection and acceptance 100 Change order procedures 100 Explicitly spelled out remedies 101 Termination for default/cau