Get it in writing Have you ever been in a negotiation where you have come away excited about what you have achieved and what has been agreed, only to find that once you go back to discuss the finer details, the agreement wasn’t quite what you thought it was? It is important that once you have reached a decision in a negotiation, you get it down in writing. Remember, the devil is in the detail. This is particularly significant if one party decides to retract any part of the agreement, as you can then present them with the facts and what they agreed to in writing, rather than just having a conversation that is likely to result in conflict. It is important that once you have reached a decision in a negotiation, you get it down in writing.
Follow through After you’ve reached agreement, it’s important that you reinforce that by following through on what you said you would do. The basic rule is: be professional about the way that you conclude the proceedings. Agreements For a big negotiation, you may need to draw up a contract. Make sure it reflects what you have agreed. Surprises can undermine trust. For smaller agreements a follow-up email can be enough to confirm things.
NEGOTIATING IN FINANCE | STEP 5: REACHING AGREEMENT
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