5 tips for negotiating contracts

August 5, 2018

When it comes to negotiating contracts, it can be a stressful time, but relax and take a deep breath. Radich Lawyers on the Gold Coast have a few tips for assisting you with your contract negotiations.

5 Tips for negotiating contracts

  1. Establish what you want

The first thing to do with any negotiation is to work out what you want from the contract. It pays to know what your non-negotiables are, and where your walk away point is. Until you’ve established what you want from a contract how can you negotiate effectively?

  1. Listen to what the other side are saying

A master negotiator asks all the right questions and listens. By probing the other side, you can ascertain how much the deal means to them. Sometimes when it comes to negotiating a contract we think about what the deal means to us; by getting some intel on the other party you can try and establish its worth to them.

  1. Research

When a deal seems too good to be true, it usually is. By doing your homework you are in a more powerful position to negotiate your contract. By gathering as much pertinent information to the contract as possible you can make well-informed decisions.

  1. Always talk to a lawyer

That fine print might look fine, until you actually challenge a contract and realise their significance. Radich Lawyers are well-versed in the art of negotiating contracts; with our wealth of experience and knowledge in corporate law we are the clear choice for assisting with your contact negotiations. Never sign something you don’t clearly understand.

  1. Always be willing to walk away

Base your decisions on fact and not feelings. When you emotionally attach yourself to a contract negotiation you are leaving yourself exposed. If you walk into the contract negotiations knowing that you won’t walk away, you have no leverage. Whilst a contract might be hard to walk away from, you have to recognise that you do have other options if the terms aren’t working for you.

 

Radich Lawyers are seasoned negotiators

Before signing any contract, talk to Radich Lawyers on the Gold Coast, or why not call us into the negotiations?  In negotiations, I am creative and practical, and one extra party that has your interests in mind will only strengthen your position. Call 0412 763 602 and see how Radich Lawyers can assist with your contract negotiations.

 

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