"A verbal contract isn't worth the evidence it's written on".
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In any relationship, business, or daily live we does negotiation. That includes buying food as we want the best, fastest & cheapest. Though I was an Engineering graduate, I had once worked for an Electronics Manufacturing company that assigned me to screen all the company's contracts and agreement for its main essence and facts in protecting the company's interest. This also requires close collaboration with the Drew & Napier law firm to review its legality and verbiages.
3 main things to achieve are as follows
1. Buyer and seller come to agreement
2. Develop good relationship with seller
3. Negotiate items can include:
a) Fair and reasonable price
b) responsibilities and authority
c) technical and management approaches
d) contract financing
e) schedule and payment plans.
To achieve the above objective, often time either one of negotiation tactics are deployed
a) Deadline: Imposing deadline to reach agreement
b) Surprise: Surprising the other party with new information
c) Limited authority: Claiming inability to decide
d) Strategic delays: Request for a recess to divert attention
e) Missing man: Claiming that the right person is not available
f) Fait accompli: Claiming that a topic of dispute has already been decided and is no longer an issue.
Please click this to see how we understand is often much different to what a customer needed.
Kacak5 Management.
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