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Increase of nominal capital and the amendedmemorandum. And you're finished. Jack: Thanks, Rob. I'll just take a copy of that checklist. Unit 5 Listening 1 Part I Good morning. I'm very happy to have been invited here today To hold this talk on effective contract negotiations. Before we get started, I'd like to tell you something about the topics I intend to cover. My talk will be divided into two parts: the first, More informative part will be held as a kind of lecture, and the Second, practical part will involve role-plays, to give you a chance to tryout some of the techniques you'll be hearing about. In the informative part, I'll cover preparing for a Negotiation, tips for using agreement templates and term sheets, as well as some general negotiating techniques. This'll Be followed by ways to overcome objections from the other side and how to recognise a good deal. Then we'll break for Coffee. The second half of our session will then be dedicated To role-plays. Part II ... session will then be dedicated to role-plays. Now I'd like to Move on to the topic of using agreement templates and term sheets. It's common to start out with an existing contract Template, which gives you a kind of blueprint of the things that are usually included in such an agreement. It's important to Realise that negotiating with a contract template means that it's necessary to review the terms and conditions it contains Carefully. Please note that you have to consider what is not in the agreement but should be, that is, what's missing and Should be added. This is really just as important as carefully Reviewing the language in the agreement. Here, I want to stress that it'd be wise to consult with a senior lawyer, preferably Someone who has experience negotiating agreements of the Kind that you are negotiating. When using a term sheet as the basis of negotiations, it's Imperative to keep good notes of all discussions or emails Regarding the items on the sheet. Term sheets are usually Used by lawyers to transfer the terms that have been agreed into an official agreement, so it's crucial that the information on these sheets is precisely what's been agreed on by all Parties. Sometimes a lawyer will incorporate items from a term Sheet onto an agreement template. In such a case, he should Be careful not to include language originally in the template that isn't appropriate. OK, now I'd like to turn to some general negotiating techniques. It's good practice to separate the issues at stake into different categories in your mind: things you can't possibly Accept, major points, minor pOints and things you can easily Live without. Then you can make trades with the other side, one item for another. This is also known as 'horse-trading'. It can go like this: 'I'll change this provision to what you want if you agree to add a provision that I want'. When it comes to Discussing numbers, if possible let the other side suggest the First number. In the case of a sales contract, for example, the Date: 2015-12-11; view: 1015
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