Writing the Negotiated Agreement

Translating your negotiated agreement into a written contract requires different negotiation skills

By Guhan Subramanian — on / Dealmaking

negotiated agreement

Some negotiations end with a negotiated agreement that is a plan of action rather than a signed contract – for example, a plumber agrees to fix the tile damage caused by his work. Other negotiations wouldn’t be appropriate to commemorate in writing, such as how you and your spouse decide to discipline your young child. But in virtually all significant business negotiations, parties should put pen to paper after negotiating the terms of their deal. In fact, contract law requires certain types of deals to be in writing for them to be enforceable. 

Sometimes you and your counterpart can draft the negotiated agreement on your own. In larger deals and dispute settlement, however, lawyers or other third-party professionals draft the terms for you. Unfortunately, the handoff from deal makers to deal drafters is error prone – and these errors can have real business consequences.

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Three Examples of Writing Negotiated Agreements