Institute of Commercial Management | Qualification Subject

Contract Negotiations

Main Topics of Study

Legal foundation for negotiations

  • Agreement of the parties
  • Disclosure of information
  • Unfair contracts and clauses
  • Bargaining power
  • Legal assistance

Internal factors

  • Organisational issues
  • Negotiation planning
  • Reserve position and fall-back plans
  • Managing the process
  • Selecting negotiators

Negotiation principles

  • Single or team negotiations
  • Rules for the lead and support negotiator
  • Planning and preparation
  • Negotiation strategy & tactics

The complete process

  • Managing the relationship
  • Supporting documentation and evidence
  • Defensive measures
  • Corporate relationships
  • Self-preparation
  • Feedback
  • Win-Win
  • Transactional analysis
  • Closing the gap

The negotiation

  • Location and timing of the negotiation
  • Negotiation techniques
  • Agenda setting
  • Single and series meetings
  • Human interaction
  • Body language
  • Listening & questioning skills

Post negotiation activities

  • Summarise
  • Checking the relationship
  • Agreeing future actions
  • Confirming the agreement
  • Dealing with disagreements
  • Debriefing
  • Exploiting the agreement

Contents of a contract negotiation

  • General principles
  • Contract requirement
  • Price
  • Payment
  • Delivery
  • Terms & conditions
  • Intellectual property rights
  • Warranties
  • Risks & liabilities

Negotiating variations

  • Source of post-contract issues
  • Variations
  • Claims
  • Disputes
  • Mediation
  • Conciliation & arbitration

Recommended Reading

Main Text:

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Successful Contract Negotiation – Tim Boyce (Hawksmere)

Indicative Text:

Alternative Text and Further Reading:

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The Commercial Manager – T. Boyce & C. Lake (ICM)

Successful Negotiation in the New Contract – Andrew Dearden (Butterworth-Heinemann)

The Art & Science of Negotiation – Howard Raiffa (Harvard University Press)