Page 301 - DMGT519_Conflict Management and Negotiation Skills

Unit 14: Closing the Deal and Post Negotiation Evaluation

Notes

Instructions

1. Ask the agreeing parties to read the document thoroughly. Always wait until they've read
the document before explaining so that they can ask questions and pinpoint confusing
areas of the agreement.
2. Explain the basic overview of the agreement. The overview provides a basic summary of
the agreement and its key terms. For example, a rental contract agreement basically
stipulates that the tenant pays the rent on time and that the landlord takes care of problems
that arise.

3. Give a definition for any challenging words. Many agreements use complicated wording
and hard-to-understand language. When the agreement includes words that someone
does not understand, explain the definition of the word for clarification.
4. Inform the individuals about the details. In an agreement, the details constitute the most
important part of the agreement. A renter might agree to pay the rent, but might break the
contract by painting the walls or other minor actions. Details determine the actions that
the agreement allows. Before signing an agreement, both parties should know and
understand the details of the agreement and feel comfortable with the details.
(a) Document that includes critical issues
(b) Memorializes important aspects of deal and “what-ifs”

(c) Includes: parties, intent, roles, consequences, exit strategy

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