The Crucial Prerequisite: Know What You Want
When you are faced with tricky commercial negotiations, you really must know how to establish your priorities and set your objectives. Here are a few practical tips to help you.
Prepare the Ground
This involves identifying all the components of the agreement that you are seeking and that may be negotiated. Generally the agreement will need to specify the following:
- Logistical factors: schedules, deadlines, transport, organization
- Technical factors: product and service specifications (main and secondary products/services)
- Legal factors: the nature of reciprocal undertakings, terms and conditions applicable in the event of subsequent disputes
- Financial factors: price but also method and terms of payment ...