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Prepare for the negotiation

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· Get any facts, figures and documents you may need to back up your negotiation points.

· Create a checklist of items that you want to address. When you negotiate a contract, it helps if both sides agree to this itinerary before the negotiation session begins.

· Set a time frame within which to reach an agreement on terms. Create a plan for the possibility that both sides cannot agree on terms within this time frame. For example, you may agree to schedule a mediation after 2 failed contract negotiation meetings, or to withdraw the contract altogether.

4. Build trust with those you are negotiating with. This will help you reach an agreement faster, and with less resistance and time-consuming inquisition. To build trust, fully disclose all of the facts surrounding your contract negotiation requests, provide documentation of any facts or figures you use to support your requests, communicate openly about your interests and be receptive to the other party's counter-presentations.

5. Approach the negotiation with a positive attitude. This will promote cooperation and aid both party’s openness to mutually beneficial solutions.

2. Study the chart presenting International Payment instruments. Which is the most risky? Which is the safiest?

 


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