Polly Dinkel writes “Tried and True Tactics for Expediting Contract Negotiations” for the NAMWOLF newsletter

December 2010

The Problem: Companies engaged in large-ticket sales of products and/or services, particularly when their customers are also large and sophisticated, frequently find it challenging to sell their products or services time- and cost-effectively, while also controlling business and legal risks. Large-volume customers usually have strict internal policies and procedures for purchasing that include “mandatory” terms and multiple levels of review and approval, by both legal and business units. If not managed correctly, these negotiations can drag on, lengthening the sales cycle, burdening internal resources, increasing outside legal costs, and resulting in last-minute concessions to close the deal timely.