CRC Quiz

What is the main purpose of the Contracting Policy?

• To reduce the number of contracts

• To ensure contracts are consistent, strategic and well managed

• To allow only Legal to manage contracts

• To avoid using written contracts

Who must follow the Contracting Policy?

• Only Legal and Commercial teams

• Only senior management

• All employees involved in contracts

• . Only those who sign contracts

Where must contracts be stored?

• In personal email folders

• In the designated contract register

• On a shared drive

• With the supplier

What does CRC stand for?

• Contract Risk Committee

• Contract Review Committee

• Commercial Review Council

• Contract Reporting Centre

What is a Material Contract?

• Any contract with a consultant

• A contract with high strategic or financial impact

• A contract signed by Legal

• A contract with a supplier

True or False: All contracts must go through the CRC.

• True

• False

• N/A

• I have no idea

What is the purpose of the Gate Approval Process?

• To delay contract signing

• To ensure contracts are aligned and approved

• To reduce paperwork

• To avoid legal review

What is the purpose of Gate 1?

• To sign the contract

• To allocate resources to pursue the opportunity

• To submit a bid

• To negotiate terms

True or False: CRC endorsement is required before signing a Material Contract.

• True

• False

• N/A

• I have no idea

What must be assessed before extending a contract?

• Whether the customer likes us

• Value erosion and recovery options

• Whether Legal is available

• Whether the supplier agrees