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hello welcome to sips level for revision for the deployment in procurement and supply module three commercial contracting and its learning outcome 3 which is to understand the key clauses that are included in formal contracts so along the lines those contractual terms that are created with external organizations recognizing the examples of contractual terms that are typically incorporated into contracts and the types of pricing arrangements so contracts can exist without terms and conditions being in place but this can place a purchaser in the position of very high risk so for example the purchases terms conditions may place a far greater liability burden on the supplier then the suppliers own terms and conditions would so were going to explore some of these terms in more detail but contracts and typically will have expressed or implied terms now express terms are typically things that are explicitly inserted into a contract implied terms are automatically assumed to be part of the c
