Contract Law and Ethics
Contract Law and Ethics is understanding the legalities and ethical considerations associated with procurement processes. It involves knowledge in creating, evaluating, and managing contracts, ensuring compliance with governing laws, fairness in negotiations, protection against liabilities and adherence to strong ethical behavior in all procurement activities.
Level 1: Emerging
At an emerging level, you are developing a basic understanding of contract law and ethics in procurement. You're familiar with basic terms and can identify key legal and ethical considerations.
Level 2: Proficient
At a proficient level you are able to apply contract law and ethics within procurement processes, ensuring compliance with legal requirements and ethical standards while managing supplier relationships effectively.
Level 3: Advanced
At an advanced level, you are able to independently apply complex contract law principles to procurement processes, ensuring ethical behavior and compliance with legal regulations to protect the organization's interests.
