Why you need a Customer Agreement Negotiation or Review
So, you’ve got the contract on the table, the biggest deal of the year. You want to sign but aren’t sure. The bigger the deal, the bigger the risk. You want to run it under some legal eyes, just to make sure it is good to go!
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What is a Customer Agreement Negotiation / Review?
At Law 365 we negotiate, draft and review contracts everyday. We offer advice on how to contractually protect your business from risk and get you the best deals. We also aren’t afraid to be the bad cop at the negotiation table, and we’re ready to fight your corner!
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Frequently Asked Questions
Q: What makes a successful negotiation with a customer?
A: Well, the obvious answer would be getting the best deal for you; most people measure success in terms of financial gain. However, this isn’t always the case. Often successful negotiation can be judged in terms of time- the speed at which the negotiations took place- no one wants a long, drawn-out negotiation.
Another way to measure success is assessing the satisfaction of both parties. If both sides come out of negotiation feeling highly satisfied with the result, then that can increase the chances of working together again! Remember, it’s not about getting the first deal, it’s getting the second!
Q: Why is it important to negotiate payment terms?
A:We see a lot of our clients, particularly those in the sales team, always in a rush to finalise a deal without necessarily considering if they have got the best payment terms.
Some payment terms are simply not in cohesion with another business practices. For instance, some payment terms state that payment is due 60 days from the date of the invoice – 60 days could be a long time for a company and can have a big impact on cashflow.
Q: What should I do if a customer refuses to negotiate terms?
A: We believe that you should be firm, but also empathetic. If you have a customer who doesn’t appear to want to budge, it is important to try to understand what the real issue is at play.
Therefore it is always important to listen as well as have your say. From there both parties can begin to problem solve and try to reach a mutual compromise.
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