Friday, October 8, 2010

Steps in Contract Negotiation

Steps in Contract Negotiation:
  1. Introduction

    All parties become acquainted and the overall attitude of the negotiation is established; this tone is largely set by the buyer's team leader and the person with authority to sign the contract will lead the contract negotiation team.

  2. Probing

    Each side attempts to learn about the other's real position.

  3. Bargaining

    Give-and-take discussions take place to arrive at the best possible agreement to all.

  4. Closure

    The tentative agreement is revised and everyone has an opportunity to the tweak the results.

  5. Agreement

    The team tries to ensure that all parties clearly understand and agree to all terms and conditions of the contract.

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6 comments:

  1. sachinMarch 15, 2011 at 4:45 AM

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  2. AdministratorApril 22, 2011 at 11:02 AM

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  3. AdministratorApril 22, 2011 at 11:03 AM

    very well explained.

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  4. PMGuyJuly 15, 2011 at 11:10 AM

    Good job outlining them clearly so that the PMP candidate can understand it well.
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  5. AnonymousAugust 1, 2011 at 4:53 AM

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  6. PMGuyNovember 7, 2011 at 2:07 AM

    Thanks for sharing the information. This will certainly help people to pass pmp exam

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