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Negotiation

 
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Group Charter: 

The purpose of the Negotiation Network is to grow the knowledge and performance of its members by providing insights to best practices, emerging practices and new trends in negotiations. Members will participate in open discussions and draw/share from knowledge and ideas that are current and relevant.

The objectives will be met by sharing ideas, discussing challenges, exploring new directions and, where appropriate, initiating research or inviting experts to present on key topics related to negotiations.

Meetings will be virtual (by phone or webinar) unless in specific cases there is an agreed wish to have physical meetings or workshops to develop specific initiatives.

 

Group Mission/Vision:

Provide fellow members with insights to best practices, emerging practices and new trends in negotiations in order to provide their companies with the most value possible.

Objectives:

 
 
Network Updates

Contract extension beyond terms (Special)

Can we extend the contract beyond its original term? Even if the maximum extension period has been reached. Say for a contract of 2 years plus 1+1 years. I come to circumstances where I must delay tendering because of political challenges and changes to the current method of delivering the service; hence a change of scope of work. However, I need to maintain the current service delivery under stronger contract terms rather than using Purchase Order terms and conditions (used for low-risk goods and services). Since the contract relates to offering and acceptance. If the contracted parties agree to apply for that extension (say 6-12 months) and use the existing contract terms and conditions, can we exercise that 'special' extension? The second scenario, I have, is can we do such extension after the expiry date of the contract. Provided it is not since long expired?! (Less than 1-2 month of the expiry date). What is the legal implication for both options / scenarios?

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Are negotiators in the Western world stupid?

Are negotiators in the Western world stupid? This may seem a rather provocative question - but it is apparently a question frequently asked by business people in Asia, based on their experiences with counterparts from the Western world.

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Negotiation in an age of automation

The nature of negotiation is changing. Today, approximately 70% of negotiations are 'virtual' in their entirety. 36% of negotiators never meet with external counter-parties - and that percentage is even higher in the United States. Worldwide, only 2% of negotiators say that all their negotiations involve at least some face to face interaction.

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Negotiation techniques

Reading through the negotiation case study, I find the most powerful part of negotiation is to use a if you...then we... statement to ensure you are always gaining something back for everything you give up. Does anybody else on here have any quick tips or snippets they use?

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Assigned vs Novated Contracts

Can someone please clarify whether there is any difference between "assignment" and "novation" of Contracts? I've seen many contracts where the word "assignment" has been used and in other contracts the word "novation" has been used. Sometimes, both are used. For Example: "Third Party Agreements which the parties have agreed will be assigned (or novated) to the Service Provider, and for which the Service Provider is thereafter liable..." In the above example, I'm not sure why both the terms "assigned" and "novated" have been used if both have same contractual meaning. I think for both assignment and novation, the Service Provider has to novate the existing contract between the Customer and Customer's Third Party and will be fully responsible for the novated Contract going forward. Please correct me if this is not the right understanding.

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Consideration Amount for Variation Agreement

For Variation Agreement, is it necessary to mention some consideration amount (e.g. $1 in the below example) to make it binding/legitimate even if the consideration amount is mentioned in the Original Agreement? Example: "In consideration of the payment of the sum of $1 by each party to the other (receipt of which each party hereby acknowledges), the parties agree that the Original Agreement shall be varied in accordance with the arrangements set out in this Variation Agreement" I've also seen a few Variation Agreements where no consideration amount is mentioned. It would be great if someone can clarify.

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