Common Sense Consulting LLC

Whether Starting or Growing your Business, Begin with Common Sense

67 Begonia Drive Suite 100

Ruckersville, VA 22968-2510

 

Phone: 434~760~1246

E-mail: ali.ansari@cscva.com

Contract Negotiation
Text Box: Having a negotiation strategy going into contract negotiations is critical. As the person negotiating a contract you must be willing to concede on some terms and conditions to get what you want. Of course willing and able to accept that each has their own agendas in writing a contract in favor of one party versus the other. Developing a sound contract requires both parties to share in the potential risks. The smallest mistake can kill an otherwise productive contract negotiation process. Avoid these contract negotiation mistakes so that you and your vendor will come to an agreement that will benefit both parties, Common Sense acts as a vehicle to help you understand and win in this process. We help you overcome the common mistakes small business’ make in negotiating contracts. 1. Thinking The Yard is Fenced In We don't assume that only a certain subset of resources or conditions can be negotiated. The sky is the limit and finding creative and original alternatives that can benefit both parties will result in a better negotiated contract. 2. Terminology and Technicalities We never assume that everyone who will read the contract will understand every technical term or complicated provision. We will insist that every area of the contract that has the possibility of being misunderstood is clearly defined. 3. Inconsistencies Within the Contract We will look for inconsistencies within the contract that can come back to haunt you in some form of arbitration. If necessary, we will have a third party review the contract in order to uncover any inconsistencies.
Contract Negotiation

Negotiation describes any communication process between individuals that is intended to reach a compromise or agreement to the satisfaction of both parties. Negotiation involves examining the facts of a situation, exposing the both the common and opposing interests of the parties involved, and bargaining to resolve as many issues as possible. Negotiation takes place every day in nearly every facet of life—from national governments negotiating border disputes, to companies negotiating work agreements with labor unions, to real estate agents negotiating the sale of property, to former spouses negotiating the terms of a divorce. Small business owners are likely to face negotiations on a daily basis when dealing with customers, suppliers, employees, investors, creditors, government agencies, and even family members. Many companies train members of their sales forces in negotiation techniques, and many others hire professional negotiators to represent them in business dealings. Good negotiation requires advance preparation, a knowledge of negotiating techniques, and practice.