Nobody Likes a Bully, Nobody Respects a Pushover: Building Business Relationships through Firm, Fair and Purpose-Driven Contract Negotiations
- Friday, October 21st – Lunch with Cocktails (11:30 -2:00)
- For anyone who negotiates upstream or downstream contracts
- There is no greater guarantor of a successful project than the existence of business relationships built on trust, mutual respect, and reliability. There is no greater saboteur of an otherwise successful project than a lack of understanding between the parties as to what happens when (not “if”) everything does not go exactly as planned. Contracts define the rights and obligations between the various participants of a construction project. On a more basic level, however, contracts provide crucial foreseeability as to how reasonably anticipated and completely unexpected problems will be resolved. The time to contemplate and discuss these mitigation procedures is before the contract is signed, not once the problem arises. The ability to fairly and proactively negotiate the terms of these procedures will not only save time and money on the project at issue but will foster the development of positive and profitable business relationships into the future. Topics will include:
- Timing of key negotiations: Don’t hide the ball—if it’s important, put it in the RFP or bid/proposal
- Avoid the battle of the redlines—cut to the chase by discussing face-to-face the terms that you can bend on and those you can’t
- Negotiate with a purpose—understand and explain the actual risks associated with undesirable contract terms
- When to bring in the lawyer part III (contract negotiation): never, unless they show up with theirs