《商务谈判课件（英文）》Lecture 5.pptVIP

Lecture 5 Closing the negotiation After the preparation, bidding and bargaining comes the closing period of negotiation. To reach an agreement the parties have to experience the two phases of making the deal and formally signing the contract. Through the bargaining process, both parties are gradually agreeing on some points and they are trying to make the deal from their own perspective. Once the agreement is settled, the contracts have to be written out and the economic contract should be signed in a formal way. I. Closing the deal 1. Who makes the decision 2. When is it time to close 3. Verbal indications and Non-verbal indications of closing 4. Tactics towards agreement 5. What to be negotiated 6. Tips on contract signing 1. Who makes the decision The difference between a successful and an unsuccessful negotiator is the ability to close a deal when it has reached its maximum level of distributing “enough” among all participants. The deal is best closed when the agenda has been exhausted. Buyers usually have the say as to when a deal will be closed, but they can be encouraged to do so by savvy sellers. This is why every sales force in the world has its “closing specialist” whose job is to convince the buyer that “enough” has been had and it’s time to transact the deal. 2. When is it time to close Have all points of the agenda been discussed? Have the technical aspects of the deal been reviewed? Have the local and international laws applicable to the deal been researched? Are all active parties to the deal logistically capable of performing their functions? Do all parties recognize the short and long-term consequences of the deal? Are all parties in agreement as to the language and terms of the deal? Do all the parties to the deal trust each other? Do all potential signatories have the requisite authority to act on their company’s behalf? 3. Verbal indications and Non-verbal indications of closing Verbal indications that closing is possible can take the