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

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

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)