The stages of negotiation include initiation or identification, the next being deal meeting or bargaining and last being closing the deal or resolution.
In the first phase, you open up the conversation regarding the meeting and you put forward the idea or purpose of the negotiation.
Identify the issues you want to negotiate. For example, read the suppliers offer, highlight important parts and jot down notes about part that you are not clear, or that you cannot accept.
Have good information about each issue that you want to negotiate (after all this is what preparing is all about).
Classify the Issues
Classify them according to: Negotiable – these are issues that you can negotiate and be flexible. State your maximum that you can negotiate on these points, so that at any point in time during negotiations you know your limit.
In the second phase, analyze the resistance point and Group them as indicated by: Negotiable – these are issues that you can arrange and be adaptable. Express your greatest that you can consult on these focuses, so that anytime amid arrangements you know your breaking point.
In the last phase, you need to have the details of some questions like what are the payment terms, the contract period, what will be the starting date, what is the cost of the terms. Once you have written this down, simply shoot a quick email to the other party and ask for their acknowledgement/agreement to this. Mention that if they have anything to add, they can add it during their reply to your email. To write about the contract negotiation process, it may actually take much more that what is written here, I we trust that this simplifies the contract negotiation process to simply 3 steps.