(ISBN 0 9581 452 45)
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So you've been involved
in weeks (or sometimes even months) of
hard-fought negotiations. You've had to
make a number of concessions to get this
far, but in return, have been able to
extract a number of significant concessions
from your opponent that will make the
deal a winner for your company.
What do managers in an organisation
normally do at this point? They breathe a sigh of relief
that the negotiations are finally over and that the
deal is done.
However, the deal is not yet done until it is written
up. Not until the final form of contract is agreed upon
At this point there is usually an unofficial "handover"
of the process to commit the terms of the deal to paper.
Depending on the size of the company, this could be
to the company's legal department or - at the opposite
end of the spectrum - to the more junior member/s of
the deal team.
Most people usually think that the hard part is over
at the conclusion of the oral negotiations. In fact,
this is often where the real negotiations - those that
could cause the greatest impact to the parties - usually
It is at this point of the transaction that persons,
not previously involved in the negotiations, often join
in. They might be lawyers or other persons to help "write
up the deal".
Other person's interpretations can influence the wording
It can also happen that a person will seek to gain an
advantage over the other party by "slipping"
something in at the last minute. It may even be a point
that was never discussed or negotiated.
This book covers the tricks, tips and tactics of commercial
contract negotiations so that you can avoid getting
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