Documentation used in negotiation

There are essentially two types of documents involved in negotiations:

1. Contracts
Most company procurement negotiations require a written contract or other formal written documentation. However, a written contract is not essential for the agreement to be legally enforceable.

2. Minutes and records
It is good practice to keep written records of all negotiation meetings. Negotiation can move along at a very fast pace and it is easy to lose track of what concessions were offered by whom and what follow up actions need to be taken. Proper record keeping is also an important part of ensuring proper accountability for the negotiation process. Negotiation records may be needed if subjected to external scrutiny.

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