One of the best ways to create effective sales agreements in the oil and gas industry is to negotiate carefully and strategically. At Ehrlich & Pledger Law, LLP, we have helped many people in California formulate contracts that are concise and thorough.
According to the Huffington Post, there are steps you can take when negotiating terms and conditions that give you more leverage and increased power in decision-making. Here are some of the things you can do:
- Prioritize and divide: One of the biggest mistakes you can make is feeling like you have to take care of all negotiating in one sitting. Rather, prioritize the decisions you need to make and then divide negotiations into a series of meetings with each discussion focusing on one decision.
- Know your goal: Carefully consider what the desired outcome is in regards to your contract. What do you hope to accomplish? What agreements do you hope to make? With a clear picture of your end goal, you can take a streamlined approach to negotiating and stay on task.
- Do your research: Spend some time researching industry information including facts and data. Find strategic ways to share this information to confidently back your position and demonstrate why your points are valid and beneficial to the other party.
- Be cordial and agreeable: While it may be tempting to make a laundry list of demands, an abrasive approach to negotiating can quickly turn the other party away. Rather, be cordial and agreeable and take the time to listen. Then, ask questions that have been carefully worded to make a request without sounding demanding or controlling.
When you understand how to negotiate and which approaches to take to enhance your position, credibility and professionalism, your sales agreement may be much more aligned to your overall goals. It may also reduce the chances of getting involved in a contract dispute because terms and conditions are misunderstood. For more information about creating contracts, visit our web page.