contingent agreement

Contingent contracts usually occur when both negotiating parties fail to reach an agreement. The contract is characterized as “contingent” because the terms are not final and are based on certain events or conditions occurring. (Malhotra, Bazerman 2008, p. 70). Contingent contracts can be likened unto if-then agreements that state which actions under certain conditions will result in specific outcomes (Templar 2012, p. 122).
A contingency contract can also be viewed as protection against a future change of plans (Malhotra, Bazerman 2008, p. 70). Contingent contracts can also lead to effective agreement when each party has different time preferences. For example, one party may desire immediate payoffs, while the other party may be interested in more long-term payoffs (Thompson 2008, p. 122).

The following items are tagged contingent agreement.

Becoming a More Ethical Negotiator

Posted by & filed under Business Negotiations.

Given the prevalence of corporate scandals in recent years, many have questioned whether ethics training for professionals has done much good.

One of the reasons that such training has achieved limited success is its focus on intentional, explicitly unethical behavior. Such training encourages students to do what is right rather than what is profitable. Yet, most professionals are not ethically challenged at an explicit level and those who are may be unreceptive to the messages of ethics training.

Occupational safety

Posted by & filed under Daily, Negotiation Skills.

The PON Clearinghouse offers hundreds of role simulations, from two-party, single-issue negotiations to complex multi-party exercises. The following role simulation is a six-person integrative negotiation among representatives of a manufacturing company, an occupational safety agency, a union, a local fire department, and a local technical expert to settle claims of safety violations

Why You Should Help Them Be Less Biased

Posted by & filed under Business Negotiations.

Would you rather negotiate with someone who is rational or irrational? Too many negotiators falsely assume that bargaining with an irrational partner lends you a competitive advantage. You may think that you should use their mistakes to your advantage.

Betting on the future

Posted by & filed under Daily, Negotiation Skills.

Adapted from “Don’t Like Surprises? Hedge Your Bets with Contingent Agreements,” by Lawrence Susskind, Professor, Massachusetts Institute of Technology.

A town government and a private fuel-oil company have a standing contract that they have renewed for several years in a row. The contract is again up for renewal, and the town manager is under pressure from

January 2005

Posted by & filed under Negotiation Monthly Archives.

Will You Thrive – Or Just Survive? New leaders fail at an impressive rate. That’s because many don’t know how to negotiate for what they need to improve their odds for success
Lessons from Abroad: When Culture Affects Negotiating Style. Cultural context can mean the difference between successful negotiation and humiliation. Tailor your approach