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L/O/G/O International Business Negotiation * Chapter7 Closing the Negotiation and its tactics * Teaching Objectives After studying this module, you should be able to know: In this chapter you will learn 1. who makes the decision to close; 2.when it is time to close; 3.tactics towards agreement; 4. tips on contract signing; 5.summary of the negotiation. * Closing the deal Summary of the negotiation Tips on contract signing 4 1 2 3 Contents bargaining tactics * After the preparation, bidding and bargaining comes the closing period of negotiation. How to determine if it is time for closure is a key point in this phase.If the negotiation is closed too soon,issues concerned will not be thoroughly discussed,leaving endless trouble for the future;if the best chance to close the negotiation is missed,things will change in the prolonge negotiation.resulting in the loss of the deal. * 7.1 Closing the deal 7.1.1Who makes the decision International negotiations differ only in the fact that the buyer/investor is usually much better informed than a standard customer.Both buyer and seller have an equal chance to close the deal,and the more proactive the decision maker is, the greater chance of controlling the process he’ll have. * 7.1 Closing the deal 7.1.2 Identifying closing signals and selecting closing approaches Whether an international business negotiation can be concluded or not is usually decided by three factors:transaction terms and conditions, closing signals and the scheduled time period. (1)By transaction terms and conditions (2)By closing signals (3)By negotiation time * By recessing we mean taking a short break during which each party moves out of the negotiation forum to reconsider the progress of the negotiation,and to reconsider its own position;or breaking off until a later session.Recessing is such an important device th
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