How to maintain good relationship with suppliers is a question every buyer or purchasing organization should strive to find an answer to since it is my belief that any serious organization doesn’t want supply interruption as result of bad relationship. Supplier may find a buying organization to be attractive based on the value the organization …
How To Maintain Good Relationship with Suppliers Read More »
There are various types of mistakes in contracts one may make and they can render the contract void or voidable depending on the parties. Types of mistakes in contracts can be classified into three categories which are: common mistakes, mutual mistakes, unilateral mistakes all of which we intend to look at. What are mistakes in …
TYPES OF MISTAKES IN CONTRACTS AND HOW TO AVOID THEM Read More »
Collaborative and adversarial negotiation approaches are very common when parties are deciding on how to get what they want in a given set up. There are two main outcomes that parties tend to desire when negotiating, either a win-win or a win-lose. These two outcomes have led to two different approaches to how the parties …
A simple comparison of collaborative and adversarial negotiation Read More »
Stakeholders in commercial negotiation play a powerful role that will in the end shape the direction and results achieved in the negotiation process. But before we look at some these roles lets start by understanding who stakeholders in commercial negotiation are. WHO ARE STAKEHOLDERS IN COMMERCIAL NEGOTIATION? Generally, stakeholders are individuals or groups who depend …
Powerful roles of stakeholders in commercial negotiation Read More »
Battle of forms is one of those situations that is better of avoided in procurement given the amount of time it consumes with basically nothing much achieved for the parties involved. In order understand battle of forms and how to avoid it one has to look back into how contracts come into existence. Contracts start …
Here is how To Avoid Battle of Forms in Procurement Read More »
Understanding what is misrepresentation is important in contractual agreements since this is one of the five main vitiating elements in a contract. During the negotiation phase of a contract there are statements made with an intention of getting the other party into the deal. These statements are referred to as representations. Representation is a statement …
Misrepresentation In Contract Law Does the Truth Really Matter Read More »
The zone of potential agreement (ZOPA) is an important concept when trying to figured out whether or not you stand a chance of getting a deal from the negotiation. Granted there are a number of aspects that will contribute to your success when negotiating but identifying the zone of potential agreement or ZOPA is key …
A practical look at the zone of potential agreement Read More »
Steps in tendering process will for the most part depend on the type of tendering process and what the organization intend to achieve. The first question we need to find an answer to before looking at the steps is what exactly tendering refers to. What is tendering? Tendering can be defined as; a purchasing procedure …
When it comes to legally binding agreement, the devil is often in the details. This is why it is important for one to understand the contractual terms, given that it is these terms that actually spell out the nature of the agreement. Do we need a fresh contract each time? Since drawing contracts can be …
Contractual terms are important and this becomes obvious whenever you define a contract. What is a contract? A contract is basically a legally binding agreement. The question is what exactly have you agreed to? In purchasing and supplies the agreement will for the most part depend on stakeholders’ needs, which is why you need to …
