Contract negotiation is an inherent aspect of running business. Usually it is aimed at working out such reciprocal concessions by both parties to enable them to reach mutually satisfying agreement. It pertains not only to national counterparties, but also to foreign ones.
Preliminary preparation is of crucial importance for the course of negotiations. It involves mainly the outline of the prospective cooperation including the anticipated periods of validity of contracts, the amounts due and the forms of settling them and also the legal aspects of the subject matter of contracts. It should be borne in mind, however, that the other party is likely to set forth its own conditions of cooperation.
In the event of discrepancies in the visions of cooperation presented by each of the parties, it is necessary to undertake steps leading to reaching an agreement. In most cases it will require reciprocal concessions and the point is to distribute the economic burden they entail on both parties as equally as possible. It is highly recommendable to set a clear threshold in making these concessions in order to prevent a situation in which the cooperation would turn unprofitable.
The lawyers of CGO Legal law firm bring years of experience in conducting professional contract negotiations. We provide comprehensive assistance in the preparations preceding the negotiations, track the actual course of the negotiations and, subsequently, draft the potential contract resulting from it. We also make sure that any arrangements remain in compliance with the binding provisions of law.
Please do not hesitate to contact us should you be interested in learning more on the above.
We also encourage you, to familiarize yourself with an issue of contractor verification.