While specific objectives may differ from project
to project, the role of negotiations is to provide a forum and a process that
will accomplish three results:
1. A mutually satisfactory
structure;
2. An executed agreement;
3. A long-term relationship.
***
1. A mutually satisfactory
structure. In the course of
preparing for detailed
negotiations, the negotiating
team presumably formulated a
preliminary structure for the
proposed transaction. The role
of negotiations is to convert
this preliminary structure into
a structure that satisfies the
interests of the both parties.
2. An executed agreement.
The negotiating team will have
prepared a draft of the contract
documents that contains terms
and conditions that it believes
are required or desirable to
govern the implementation of the
transaction. The role of
negotiations is to reach
agreement with the other party
on both the text and scope of
the terms and conditions that
should be contained in the final
contractual documents.
3. A long-term relationship.
Negotiations should create an
agreement free of the seeds of
future conflict.