A well-written contract ensures that the selected vendor meets the company's specific expectations and objectives for the purchase. During the evaluation process, the team will determine whether the selected vendor will have any difficulty meeting original purchase objectives. The negotiating team, therefore, must reach agreement on which objectives will require negotiation and what an acceptable outcome will be.
Negotiate Contract has three steps:
1. Refine Contract Objectives.
2. Negotiate Contract Terms with Vendor.
3. Obtain Internal Approval.
When you have completed these steps, your agreement with the vendor should clearly document the mutual expectations of the customer and the vendor.
Tools included in this bundle:
Negotiate Contract has three steps:
1. Refine Contract Objectives.
2. Negotiate Contract Terms with Vendor.
3. Obtain Internal Approval.
When you have completed these steps, your agreement with the vendor should clearly document the mutual expectations of the customer and the vendor.
Tools included in this bundle:
- Contract Risk Assessment Tool
- Contract Approval Documentation Checklist
- Contract Approval Form
- Contract Negotiation Plan
- Contract Negotiation Team Rules of Engagement Checklist
- Contract Negotiation Team Selection Tool
- Guide to Interpreting Standard Contracts
- Purchase Recommendation Template
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