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Last updated on 2024年8月28日

What are some common pitfalls to avoid in a contract negotiation?

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Negotiating a contract can be a complex and challenging process, especially if you are not familiar with the legal terms, clauses, and implications. You need to have a clear understanding of your goals, interests, and alternatives, as well as the other party's. You also need to avoid some common pitfalls that can undermine your negotiation power and leverage. In this article, we will discuss some examples of these pitfalls and how to avoid them.

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Saleh Al Ghunaim, CCMP

Procurement I Strategic Sourcing I Contracts Management I Category Management I Supply Chain Management
David Klein

B2B Sales Leader l Global Account Manager

1 Not doing your homework

One of the biggest mistakes you can make in a contract negotiation is not doing your homework. This means not researching the market, the industry, the competition, the customer, the supplier, or the partner you are dealing with. Without this information, you will not be able to assess the value of the deal, the risks involved, the opportunities for mutual gain, or the best alternatives to a negotiated agreement (BATNA). You will also be at a disadvantage when it comes to making offers, counteroffers, concessions, and arguments. To avoid this pitfall, you should do your homework before entering the negotiation, and update it as the negotiation progresses.

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Saleh Al Ghunaim, CCMP

Procurement I Strategic Sourcing I Contracts Management I Category Management I Supply Chain Management
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Common pitfalls in contract negotiation: 1. Lack of preparation 2. Poor communication 3. Failure to set clear objectives 4. Being inflexible 5. Ignoring the fine print 6. Rushing the process 7. Failing to seek legal advice 8. Not documenting the agreement By avoiding these common pitfalls, you can increase your chances of successful contract negotiation and achieve a mutually beneficial agreement.

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Daniel da Silva Araújo Cerqueira

Sócio Coordenador da área Societária e Governan?a Corporativa do Moisés Freire Advocacia
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In my view, in contract negotiations, it's crucial to avoid common traps such as failing to conduct thorough research, not establishing clear objectives, and overlooking the importance of building trust and rapport with your counterpart. Flexibility and attention to detail are also essential. For instance, ensuring transparent communication and understanding the other party's perspectives can prevent misunderstandings and conflicts.

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2 Not setting clear objectives

Another common pitfall in a contract negotiation is not setting clear objectives. This means not defining what you want to achieve, what you are willing to accept, and what you are not willing to compromise on. Without clear objectives, you will not be able to measure your progress, evaluate your options, or communicate your interests effectively. You will also be more likely to accept a suboptimal or unfavorable outcome, or to walk away from a beneficial one. To avoid this pitfall, you should set clear objectives before the negotiation, and review them regularly during the negotiation.

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David Parfitt
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In my experience you need to create a win on both sides of the table and a situation where both parties can leave with respect for each other - don’t just see your desired outcome - sit both sides of the divide and work smart and creatively in creating that state of affairs where nobody feels uncomfortable leaving the room at the end of negotiations - after all, there are no pockets in a shroud.

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3 Not building rapport and trust

A third common pitfall in a contract negotiation is not building rapport and trust with the other party. This means not establishing a positive and respectful relationship, not listening actively and empathetically, not acknowledging the other party's concerns and emotions, and not showing honesty and integrity. Without rapport and trust, you will not be able to create a collaborative and cooperative atmosphere, to explore the underlying interests and needs of both parties, to generate creative and mutually beneficial solutions, or to overcome impasses and conflicts. To avoid this pitfall, you should build rapport and trust throughout the negotiation, by using effective communication skills, showing appreciation and recognition, and demonstrating credibility and reliability.

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4 Not being flexible and adaptable

A fourth common pitfall in a contract negotiation is not being flexible and adaptable. This means not being open to new information, perspectives, ideas, or proposals, not being willing to adjust your position, strategy, or tactics, and not being able to cope with uncertainty, ambiguity, or change. Without flexibility and adaptability, you will not be able to respond effectively to the dynamics of the negotiation, to seize opportunities, to overcome challenges, or to reach a satisfactory agreement. To avoid this pitfall, you should be flexible and adaptable throughout the negotiation, by being curious and inquisitive, by being responsive and proactive, and by being resilient and resourceful.

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Jaime Kiara Bell

Lawyer | Founder of Contracts Market and Wild Coast Law
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Being flexible also includes building in items to your contract that aren't necessarily deal breakers for you, and can be used as bargaining points throughout negotiation. If you have nothing in your contract you are willing to bargain with, it's going to be hard to negotiate and be flexible. An example might include starting at a higher price point, or adding in an additional service for the same fee.

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5 Not paying attention to details

A fifth common pitfall in a contract negotiation is not paying attention to details. This means not reading, reviewing, or understanding the contract terms, clauses, and implications, not verifying the accuracy, validity, or completeness of the information, data, or documents, and not clarifying the ambiguities, inconsistencies, or gaps. Without paying attention to details, you will not be able to protect your rights, obligations, and interests, to avoid misunderstandings, disputes, or liabilities, or to ensure the enforceability, compliance, and performance of the contract. To avoid this pitfall, you should pay attention to details before, during, and after the negotiation, by using legal advice, due diligence, and quality control.

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David Klein

B2B Sales Leader l Global Account Manager
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This is one of the most common pitfalls I’ve witnessed having managed a team of sellers: don’t negotiate against yourself. It’s understandable to be nervous when working through a tough negotiation - especially when delivering what you may feel is “bad” news. I’ve watched numerous sellers present a rate increase then, anticipating a negative reaction, begin to back-track their asks in an almost knee-jerk reaction to protect the relationship. Don’t assume the worst and make their arguments for them. If you’ve prepared properly, thoughtfully explain your reasoning, and respect their motivations/concerns you can walk away with a stronger relationship - even if you get everything you ask for.

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What are some common pitfalls to avoid in a contract negotiation?

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1 Not doing your homework

2 Not setting clear objectives

3 Not building rapport and trust

4 Not being flexible and adaptable

5 Not paying attention to details

Contract Negotiation

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What are some common pitfalls to avoid in a contract negotiation?

1

2

3

4

5

1 Not doing your homework

2 Not setting clear objectives

3 Not building rapport and trust

4 Not being flexible and adaptable

5 Not paying attention to details

Contract Negotiation

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