negotiation

INTRODUCTION
Business is negotiation. You will have to negotiate right now with the contractors, suppliers and staff. The communication techniques may be used in negotiation.

What is negotiation? :
What is negotiation? Negotiation is a dialogue intended to resolve disputes, to produce an agreement upon courses of action, to bargain for individual or collective advantage, or to craft outcomes to satisfy various interests. Negotiation occurs in business, non-profit organizations, and government branches, legal proceedings, among nations and in personal situations

When competitive bidding is not the appropriate mechanism for reaching the purchasing department's objectives, the buyer turns to the process of negotiation.

NEGOTIABLE INSTRUMENT ACT-1881:

NEGOTIABLE INSTRUMENT ACT-1881 written documents promissory note sec.4 bills of exchange sec.5 Transferable cheque sec.6 by separate contract assignment immovable Without separate property contact By delivery bearer instrument by delivery + endorsement order instrument

Meaning of negotiable instrument act-1881:

Meaning of negotiable instrument act-1881 The negotiable instrument is a document which entitles a person to a sum of money and which is transferable from one person to another by mere delivery or by endorsement and delivery . negotiable instrument are regulated by instrument act 1881. The act came into force on first day of march, 1882. The latest amendment to the act was made in 1988.

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Definition of negotiable instrument act-1881:

Definition of negotiable instrument act-1881 A negotiable instrument is method of transferring a debt from one person to another. The term negotiable instrument as such is note defined in the negotiable instrument act. Sec.13,however, says that a negotiable instrument means a promissory note, a bill of exchange or cheque payable either to order or bearer.

NOTING AND PROTEST :

NOTING AND PROTEST(sec.99-104) Noting is a process by which a negotiable instrument is presented by the holder to the Drawee. By noting an evidence is created that instrument was presented. This evidence will be useful in court in court when a case is file for dishonour of bill. For the purpose of noting government appoint a notery and notery will present the bill to the parties for payment.

NATERIAL ALTERATION: NATERIAL ALTERATION(sec.87) Material alteration means a substantial alteration. So if there is material alteration in the instrument it means that instrument is altered. If the alteration is not material than also instrument may become useless depending upon circumstances. material alteration may be of different type:- Alteration changes the operation of the instrument. Any alteration which changes the liability of the parties is material .

Major areas of services negotiations

There are four major areas of services negotiations:

market access domestic regulation GATS rules on emergency safeguard measures, government procurement and subsidies Implementation of LDC modalities

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Negotiations process
Negotiations in the Doha Round are being conducted essentially on two tracks:

bilateral and/or plurilateral negotiations to improve market conditions for trade in services this mostly involves improving specific commitments on market access and national treatment (i.e. ensuring that privileges given to local companies are also given to foreign companies) and promoting most-favored nation treatment (more equal treatment among WTO members) Multilateral negotiations among all WTO members to establish any necessary rules and disciplines (such as on domestic regulation, emergency safeguard measures, government procurement and subsidies) which will apply to the whole WTO membership, with certain special provisions for developing and least-developed countries. Resource? What long-term implications might arise? Is this a one-time negotiation? How well do I know the person? If this goes well/poorly, how will it affect...

Proposals for the negotiations

At the start of the negotiations, WTO members tabled proposals regarding both the structure and the contents of the negotiations. These proposals highlight the main areas of interest for individual members and/or groups of members. Often the proposals provide background information and suggestions for improving trade conditions in a particular sector. Currently, there are virtually no new proposals being tabled as work has moved on to the request-offer process.

This does not indicate a second-choice alternative, since the negotiation process is more likely to lead to a complete understanding of all issues involved between the supplier and the purchasing firm. This improved understanding can greatly reduce the number and impact of unseen problems that may arise later. A number of circumstances dictate the use of negotiation. When a thorough analysis is required to solve a difficult make-or-buy decision, or when the risks and costs involved cannot be accurately predetermined, negotiation should be used. Also, when a buyer is contracting for a portion of the seller's production capacity rather than a product, negotiation is typically appropriate.
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Other circumstances where negotiation is favored include: when early supplier involvement is employed, when tooling and setup costs represent a large percentage of the supplier's costs, when production is interrupted frequently for change orders, or when a long time is required to produce the purchased products. If successful negotiation is to occur, the buyer must have a reasonable knowledge of what is being purchased, the process involved, and any factors that may affect cost, quality, delivery, and service. A thorough cost and/or price analysis is essential. The negotiating buyer must also know the strengths and weaknesses of the negotiating supplier, as well as his own. Also, in light of today's global marketplace, strong cultural awareness is a must. Through proper preparation and some negotiating skill, the purchasing agent should be able to secure a contract that fulfills his/her company's needs and is adequately beneficial to the supplier as well

How to Negotiate the Best Sales Price for a Ferrari

When you are looking to buy a new Ferrari you want to make sure you know what kind of bargaining power you have. Even if you are buying from a certified Ferrari dealership, there is still room for negotiations even if the dealer says they are selling at cost, something that is usually a tactic to make buyers think they are getting a great deal. Sometimes it really is a good deal, but not always so you want to do some homework.

Compare Prices in Your Local Area

Do not assume that every dealership is going to sell cars for the same price. They have different price structures and even different overhead they incorporate into their prices, so there can be a
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difference of thousands of dollars even between sellers that are within blocks of one another. You need to make sure you know the average selling price in your area so you can determine if what you think is a good deal really is the best possible price on the Ferrari you want to buy.

Always Insist on a Test Drive

Never let the salesperson attempt to talk you into taking the best deal without taking it out for a drive. There are things they may not be telling you about the car in the early stage of the negotiations, so you want to be able to test drive the car in order to find out how it handles on the road and how the engine and transmission sound. While you can still find dealers who are less than trustworthy manage to hide problems with the car during a test drive, you at least know what kind of bargaining power you have.

Look the Car Over Completely

Look at every inch of the car including under the hood. Many dealers have managed to conceal things about a car when the engine looks way too cleanbe cautious if you see this because there may be a reason for it. Look for dings and dents on the car, bad tires, and any other kind of interior or exterior damage that is likely to reduce the resale value of the car. You dont want to begin by buying an already existing problem.

Insist on Proof of Maintenance

Even if you are buying from a dealer they should have a record of the maintenance the previous owner performed on the carwhen the owner traded it he should have provided that information to the dealer or be willing to make it available for a new buyer. If you are unable to obtain this information, you must begin from scratch, and you want to negotiate the price you are willing to pay based on that information. When you have to start off by bringing the car up to date on all routine maintenance, you do not want to pay the same price you would pay for one you know was kept perfectly by the previous owner.
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Even with all of this information available, you may want to think about doing small things like changing the oil, flushing the radiator and the like as soon as you get the car home. Once you know which car you are going to buy, make the decision to order the high quality parts you need to perform those routine maintenance tasks.

payment The deal between Honda and Hero doesnt seem to be seeing the light of the day just yet with negotiations still stuck over the royalty payment issue. Sources tell CNBC-TV18's Kritika Saxena that Honda Motors is demanding a larger royalty to exit Hero Honda. The deal between Honda and Hero doesnt seem to be seeing the light of the day just yet with negotiations still stuck over the royalty payment issue. Sources tell CNBC-TV18s Kritika Saxena that Honda Motors is demanding a larger royalty of close to 2,300 crore over a three-year period to exit Hero Honda .

Currently, Hero Honda pays around Rs 500 crore per year as royalty fees which is around 2.2-3% of total sales. Post the new agreement, Honda is likely to get an additional amount of Rs 70100 crore till 2014.

It is being learnt that the Japanese automobile manufacturer also wants the existing portfolio to remain untouched while it is likely to allow flexibility in all but nine products. The Munjals have been seeking flexibility in use of existing Honda products but sources say that Honda is unlikely to allow relaxations for Hero Hondas current flagship products.

The funding

It is being leant that the Munjals are in talks with bankers including ANZ, BoAML, RBS, HSBC, Canara Bank and StanChart, to fund the Hero Honda deal. They want to get a consortium of about five bankers to fund the stake buyout. They want to raise about Rs 5,300 crore. The RoFR value, what CNBC-TV18 had reported earlier, is about Rs 5,800 crore for the entire 26% Honda stake.
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1-GENERAL PRINCIPLES
Business is negotiation. You will negotiate to buy, to sell, to conclude contracts with suppliers, to fix the staff salaries and so on. What is more, you have to negotiate with regulators, Banks, Insurances. It means that the business life is a permanent negotiation with others people who are defending their own interests. Real life example: I have surveyed a lot of MBA curriculum. Negotiation is rarely a core course. Very often, it's only an elective mainly dedicated to international business. It means that these MBA prepare their people to be clerk or chief accountant! For a future businessman, negotiation must be obviously a core topic. The fact that divergent interests exist does not mean that you have to negotiate with everybody. Very often you have just to use authority instead of negotiating. What is more, many business matters are regulated by contract. A contract is made to avoid any contestation and consequently any possibilities of negotiation. When you have a good contract, just apply it. There is nothing to negotiate any more.

Services negotiations
The General Agreement on Trade in Services (GATS) mandates WTO member governments to progressively liberalize trade in services through successive rounds of negotiations. Under the mandate of Article XIX, the latest round of negotiations began in January 2000. In March 2001 the Guidelines and Procedures for the Negotiations on Trade in Services were adopted by the Council for Trade in Services. At the Doha Ministerial Conference in November 2001 the services negotiations became part of the single undertaking under the Doha Development Agenda, whereby all subjects under the negotiations are to be concluded at the same time.

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Brainstorming Strategy:
Brainstorming Strategy Expressiveness - Group members should express any idea that comes to mind, no matter how strange, weird, or fanciful. Group members are encouraged not to be constrained or timid. They should freewheel whenever possible. Non-evaluation - Do not criticize ideas. Group members should not evaluate any of the ideas in any way during the generation phase; all ideas should be considered valuable. Quantity - Group members should generate as many ideas as possible. Groups should strive for quantity; the more ideas, the better. Quantity of ideas increases the probability of finding excellent solutions. Building - Because all of the ideas belong to the group, members should try to modify and extend the ideas suggested by other members of the group whenever possible.

Negotiation Skill
New York, USA 4. Fisher, Roger, Ury, William & Patton, Bruce, 1991, Getting to Yes: Negotiating Agreement without Giving In, 2nd edition, Penguin Books, New York...

Managing Conflict And Negotiating

An international company can help prevent many problems, especially regarding negotiations, product names, and company philosophies. American companies must be aware...

How to Be a Good Negotiator?

Tear up his letter to the president and try to get the Boston appointment by negotiating with the front office. "After all," the friend said, "PR is Dorothy's field...

e-Health, Negotiations And Change

for expert, quality care. These mergers have involved major conflicts and negotiations including the consolidation of electronic data. The magnitude of the patient...

Successful Negotiating Skills

Phases - preparation, opening, bargaining and closing. In large scale negotiations each of these phases are normally tackled sequentially. However, in smaller scale..
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Win-Lose Outcome In a Negotiation

A couple of days and that I was going to need the money for this trip. I believe that every negotiator needs to be well prepared even for the worse case scenario...

Ethical Negotiations
Take many forms, ranging from simple to highly emotional and complex. When negotiations involve the very means to feeding one family, i.e. jobs, emotions can easily...

Negotiation Styles
giving back anything First he retains something from the target; then negotiates the exchange of what he retained for what he wants (is a way to gain power) Uses...

Rules Of Negotiation
On you every time 5. Listen more and talk less. Good negotiators lead by listening, not talking. Let them ramble and this provides you with the opportunity to..

Cross Cultural Negotiation

The world. Protocol factors that should be considered are dress codes, number of negotiators, entertainment, degree of formality, gift giving, meeting and greeting...

Negotiation
BA 461-601 First Impression 30 August 2007 Negotiating delivers an agreement upon courses of action. It is something what we do all the time...

Case Analysis: Brazils Wto Cotton Case: Negotiation Through Litigation

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Address the cotton issue in the wider context of overall agricultural trade negotiations. The key challenge facing Pedro de Camargo was how to manoeuvre within...

Business Negotiation And Alternative Dispute Resolution

We do almost every day, and have some fun with it. In this paper have been analyzed three negotiation situations of distributive, win-win and multi-party types...

Negotiation Report
Acquaintance has made an introduction. Drinking is often the introduction to any business negotiation done in South Korea. Some South Korean businesspeople often...

Negotiate To Win
The other parties stated position as well as the Body Language Approach, which recommends negotiators to act and react solely based on the other partys body language...

Teacher's Negotiations
Required court intervention. The teachers union and school board began negotiations in 2001 but agreed to a two-and-a-half moratorium after the September 11, 2001...

Ingratiation In a Negotiation
Explain by Deborah Welch Larson, the notion of exchange is essential in a negotiation. Exchange is often motivated by the prospect of mutual gain and the offer or...

Rules Of Negotiation
On you every time 5. Listen more and talk less. Good negotiators lead by listening, not talking. Let them ramble and this provides you with the opportunity to...

Business Etiquette In Japanese Negotiations

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A mere testament to that association. Americans, on the other hand, tend to view negotiations as a competitive way to sign a binding contract between two parties...

e-Health, Negotiations And Change

for expert, quality care. These mergers have involved major conflicts and negotiations including the consolidation of electronic data. The magnitude of the patient...

Dynamics Of Negotiations
As I like to call it "first number bias" (2) A better process for negotiations? Whether predetermined objectives are good to have or not? Do they bias our efforts...

Negotiable Instruments Article Review

Into effect in October of 2004. This Act allows the use of a substitute check as a negotiable instrument, rather than a paper check. The substitute check is a legal...

Successful Negotiating Skills

Phases - preparation, opening, bargaining and closing. In large scale negotiations each of these phases are normally tackled sequentially. However, in smaller scale...

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Business is negotiation. You will negotiate to buy, to sell, to conclude contracts with suppliers, to fix the staff salaries and so on. What is more, you have to negotiate with regulators, Banks, Insurances. It means that the business life is a permanent negotiation with others people who are defending their own interests. Real life example: I have surveyed a lot of MBA curriculum. Negotiation is rarely a core course. Very often, it's only an elective mainly dedicated to international business. It means that these MBA prepare their people to be clerk or chief accountant! For a future businessman, negotiation must be obviously a core topic. The fact that divergent interests exist does not mean that you have to negotiate with everybody. Very often you have just to use authority instead of negotiating. What is more, many business matters are regulated by contract. A contract is made to avoid any contestation and consequently any possibilities of negotiation. When you have a good contract, just apply it. There is nothing to negotiate any more. Down earth advice: Many dishonest people are always asking you to negotiate because they do not want to fulfil their obligations. For example, buyers ask more delays to pay, suppliers ask more delays to deliver the stuff, staff ask raise of salaries or advantages going far away of that had been concluded. In all these matters that have been settled by writing contracts there is no room for any negotiations. Just say No. On the contrary, a negotiation is often an obliged step when you are preparing a new contract. As business implies to prepare, and to sign a lot of contracts with buyers, sellers, bankers, and staff there are anyway a large part of time dedicated to negotiation. In this case there are divergent interests but there are also a common one. If you have only divergent interests and no common interests, it's not useful to negotiate. If there are only common interests and no divergent interests, you can go sprightly to an agreement and a real negotiation is not justified.

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In fact these two situations can be very frequent in business. It means that you must always carefully analyze the situation before engaging a real negotiation. 1. General Principles 2. Preparation 3. Negotiating Techniques 4. Do It Yourself 5. Coaching End of the negotiation: Be very careful about the final minutes of the negotiation. You think that you have gotten your goals and you relax. What is more you want to be friendly with your opponent. It's at this time that an agile opponent can demand one-sided gains. You could agree because you have down your defence and sometimes you realize that these outside gains give to the opponent an advantage that you should have never conceded in the curs us of the negotiation!

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