Q$\mathrm{.}1.$ Procurement and supply management contract is a written agreement between a buyer and a seller in which the buyer agrees to purchase goods or services from the seller in exchange for payment transactions. A procurement contract states each party$$s obligations and usually includes detailed price lists, payment information, conditions of delivery and other legal terms a nd conditions. Contrast to public sector procurement, a public procurement contract means a written contract concluded following the procedure prescribed by the country$$s procurement law between a procuring entity and a goods supplier, service provider or work contractor, concerning the procurement of goods, providing services or perform ing work assignments. In reference to the narrative above, a$)$ Examine atleast $11$ importance and factors considered when entering in procurement and supply chain contracts. b$)$ Explain the $12$ factors that may lead to parties in a contract to set aside a procurement agreement $.$