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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

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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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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Ask the Expert / MOOC Call 1: Creating, Calculating, Communicating and Profiting from Value Created

For years we have talked about win/win negotiations, but some companies still find this hard. They still view sales, procurement, and contracting as a zero-sum game. However, Best in Class companies have found ways to create and realize more profit by contracting for value, where both the supplier and buyer win. The how to do it, requires both sales and procurement to throw away some long-held beliefs and rethink contracting. Companies that contract for value have seen improvements of 5% greater than the value that was contracted for, 35% increase in profitability for the buying company, whereas selling companies are 24% more profitable than their industry average. Learn from some best practices in how to contract on value, performance and outcome-based, and a third 'hybrid' approach that aligns supplier and buyer to both be more profitable and generate a sustainable competitive advantage. In this compelling webinar, Todd Snelgrove will explain how profiting from value can be managed in practice, based on his many years of industry experience in Business to Business from both a Sales and Procurement perspective in many parts of the world.

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Webinar - Contract Lifecycle Management (CLM) 2020 and Beyond

Contract Lifecycle Management (CLM) today is an essential part of the procurement technology and digital transformation strategy for most organizations. While the past was about making incremental gains through rudimentary CLM, enterprises are increasingly realizing the potential of CLM in its broader context as a business transformation strategy. With rapid technological advancements and significant shifts in the enterprise eco-system, CLM is ready to be one of the foundational technologies for the modern enterprise.

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OPen Book meaning

My company entered into an 'Open Book' contract for supervisory works. Each Party has its own definition of the words 'Open Book', depending upon its own experience and interest. Does it imply that there is no performance obligation, but only best efforts one? Is it similar to "at cost"? etc... Is there any common understanding within the contract community for 'Open Book Contract'? Thanks in advance

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reasonable day rates for freelance Contract Mgr in Germany

Hi all, I am in discussion with a small (20 Persons) and highly specialized, high tech start-up (Management-buy-out) a Telco-offspin active in the aerospace industry. We talk about a part-time engagement, max 5-10h per week what is the bandwith of reasonable hourly rates / day rates for an experienced Contract Mgr in Germany? any idea, hint, own experience in other fields? would appreciate to hear what you think.

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Network Members