Standard Purchasing Conditions - Feb 2019
Master the Standard Purchasing Conditions
Test your knowledge of H&M's Standard Purchasing Conditions and ensure you're well-versed in the necessary contractual agreements!
Prepare for the quiz with the following key points:
- Understand the implications of supplier agreements.
- Know the timelines for order confirmations and audits.
- Familiarize yourself with potential consequences of contractual disputes.
If a supplier has signed H&M SPC, can I sign their T&C they want H&M to sign? (T&C terms & conditions) (1)
Yes, if supplier lower their prices
No, I cannot sign both contracts that may overlap on eachother
Yes, it is easier for both
No, H&M cannot agree to suppliers conditions
When sigining SPC, suppliers automatically agrees to its annex documents (multi):
Label and Packing Instructions
COE Code Of Ethics
SOP Standard Operating Procedures
RFQ Invitation Letter
NDA Non Discolure Agreement
Imperial's Exporat documents
Chemical restrictions list
H&M shopping list
When it is stated “Buyer” in the SPC, who is this referring to? (1)
The company H&M - so anyone with "H&M" in its signature
The buyer who is responsible for the contract
Ingela Head of NCGP
KJ
SPC it is stated that supplier need to confirm the order in supplier portal within….(1)
7 days
5 days
2 days
Same day
When they are sure they can deliver
Who has the right to make an audit at supplier premises? (multi)
Third party appointed by buyer
Buyer
Sustainability team
Any H&M cusomers - that is transparency
Construction team
Local country organization
FCA incoterm clarifies that risk of damage to or loss of the Goods pass to the Buyer (1)
Upon delivery to the store/ split point/ DC
Upon pick up at supplier
When goods leave the port with transporter
Only Mattias Tell knows
What count as the binding agreements between buyer and supplier? (multi)
Contracts in NCG Order
SPC Only
Emails
RFQ Response (from suppliers)
RFQ Letter
Purchase orders (ORD)
If any Goods supplied are not in accordance with the Purchase Order or the warranties given by the Supplier, the buyer are entitled to (multi)
Cancel the whole purchase order; or ask for replacement wihin 7 days
Claim 5 % extra on top of the order value
Receive discount on next coming order
Get a discount on this order
Repair the Goods Him/her self. That what happens with cheap products
Supplier has the right to modify contracted prices, : (1)
When customs increases (like Trumps 25%)
When raw material increases more than 50%
If agreed prices are too low and supplier is losing on it
Every 1st of January
When the pigs will fly
In case of dispute, which institution is reference (1)
Arbitration Institute of the Stockholm Chamber of Commerce
Stockholms tingsrätt - Stockholm's District Court
European Court of Justice (ECJ) in Luxemburg
Any arbitration or court when H&M has official Office
Plaintiff party decides, and H&M prefers Arbitration Institute of the Stockholm
The Supreme Court
If the buyer rejects or terminates a Purchase Order, can the supplier sell the goods to a third party? (1)
No, we don't want Zara to buy our interior
Yes, with buyers written approval
Yes, but only Leftovers products
We cannot terminate Purchase Order
When supplier is not delivering Order on time, Buyer has the right to (multi)
Ask supplier to reimburse costs related to delays such as express transporation or storage
Charge supplier up to 5% of the order value each day of delay
Oblige supplier to take a Delivery Control training
Avoid confrontation, we have enough problems already
Not pay for this order
Supplier can delay or cancel a confirmed order (multi)
Up on mutual agreement with Buyer
At no cost in case of floods or explosions
At no cost in case of civil disturbance or requisition
Only if communicated in Delivery Control
I can modify SPC
Because they are too complicated
FCA Incoterm to EXW, DDP, or other
Why modify SPC when 200 suppliers have signed it with no appendix?
I can add appendix with Legal dpt if business required
To extend payment terms over 60 days
After supplier has signed it
So supplier are happy and can sign it
{"name":"Standard Purchasing Conditions - Feb 2019", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your knowledge of H&M's Standard Purchasing Conditions and ensure you're well-versed in the necessary contractual agreements!Prepare for the quiz with the following key points:Understand the implications of supplier agreements.Know the timelines for order confirmations and audits.Familiarize yourself with potential consequences of contractual disputes.","img":"https:/images/course6.png"}