Negotiating Contracts Definition
A contract negotiation is the process of two or more parties reaching an agreement on the terms of a contract. The negotiation may be between businesses, individuals, organizations, or any combination thereof.
The process of negotiation usually starts with each party making an initial offer, after which there is a period of back-and-forth counteroffers until an agreement is reached. In some cases, negotiations may break down and no agreement is reached.
The terms of a contract can cover a wide range of topics, such as price, quality, delivery dates, payment terms, and so on. It is important to have a clear understanding of what you want to achieve from the negotiation before starting the process.
