The document provides information about negotiating successfully. It lists six golden rules of negotiating: 1) negotiate for at least 15 minutes, 2) let the other party speak first, 3) respect and listen to the other party, 4) acknowledge what the other party says, 5) pay attention to body language, and avoid conveying negative body language. It then discusses how different body language gestures can be interpreted, such as avoiding eye contact indicating lying or disinterest. Finally, it defines some common business negotiation terminology used in contracts, such as party, default, liable, terms and conditions, dispute, null and void.

1. Business Negotiations

2. Discussion Questions:
1. Do you ever have to negotiate at work or in life?
2. Do you have any special rules you use to successfully
achieve what you want?

3. SIX GOLDEN RULES OF NEGOTIATING
1) Always try to negotiate for at least 15 minutes. Any less than that and
it is unlikely that either party has had enough time to fairly consider the other
side.
2) Always offer to let the other party speak first. This is especially
important if you are the one making a request for something such as a raise.
3) Always respect and listen to what the other party has to say. Do
your best to remain calm and pleasant even if the other party is displaying
frustration or anger. Remember some people will do anything to intimidate you.
4) Acknowledge what the other party says. Paraphrase what you hear, and
repeat your counterparts important ideas before you introduce your stronger
ideas.
5) Pay attention to your own and your counterpart's body language.
Make sure you’re not conveying any negative body language

4. Body Language
Can you guess what the following
body languages convey?

5. Avoiding Eye Contact
What does this indicate?

6. Possible Meanings:
• Lying
• Not being transparent (leaving out info)
• Uninterested

7. Serious Eye Contact

8. Possible Meanings:
• Showing Anger
• Trying to Intimidate

9. Touching Face/ Fidgeting

10. Possible Meanings:
• Nervousness
• Lack of Confidence
• Submission

11. Nodding

12. Possible Meanings:
• Interested / Listening
• Agreeing
• Willing to Compromise

13. Business Negotiation Vocabulary
Commonly used in contract & Formal Negotiations

14. The person or people on one-side of a negotiation is called a __________(person)
_____ “A” and ______”B” have both agreed on the new contract.

15. The person or people on one-side of a negotiation is called a Party
Party “A” and Party ”B” have both agreed on the new contract.

16. When one party is unable to pay / or refuses to pay for the product or service
from another party, they “go into _________________”
“Dan and Anne have gone into ___________ on their mortgage. They haven’t
made their payment in almost 1 year.

17. When one party is unable to pay / or refuses to pay for the product or service
from another party, they “go into DEFAULT_”
“Dan and Anne have gone into DEFAULT on their mortgage. They haven’t
made their payment in almost 1 year.

18. When you agree to a contract or a negotiation, you should carefully read
the contract to see which party is ________________ if something goes
wrong.
“The hospital can refuse to treat a patient if they patient doesn’t sign
authorization forms. That’s because if something goes wrong, the hospital
may be __________________, and could be sued by the patient.

19. When you agree to a contract or a negotiation, you should carefully read
the contract to see which party is LIABLE if something goes
wrong.
“The hospital can refuse to treat a patient if they patient doesn’t sign
authorization forms. That’s because if something goes wrong, the hospital
may be LIABLE , and could be sued by the patient.

20. When you negotiate, you should carefully read the _________& ________ section.
This means anything that must be necessary, before another action can take place.
The TERMS & CONDITIONS of my bank loan states that if I am late with my payment
by 6 months or more, the banks is legally allowed to take my house.

21. When you negotiate, you should carefully read the TERMS & CONDITION section.
This means anything that must be necessary, before another action can take place.
The TERMS & CONDITIONS of my bank loan states that if I am late with my payment
by 6 months or more, the banks is legally allowed to take my house.

22. A disagreement or misunderstanding during a negotiation may lead to a
______________________.
“Terms & Conditions should be very clear and specific to avoid later
____________________.”

23. A disagreement or misunderstanding during a negotiation may lead to a
DISPUTE.
“Terms & Conditions should be very clear and specific to avoid later
DISPUTES.”

24. Usually in every contract, there is a condition about death & crime. If one Party dies
during the time of the contract, the contract is considered_________________. The
same goes for if one Party is arrested or commits a crime.
“Chris had a secure contract with his employer; however, when he
was arrested for drunk driving, the contract was considered _______. and
his employer legally fired him.

25. Usually in every contract, there is a condition about death & crime. If one Party dies
during the time of the contract, the contract is considered NULL or VOID. The
same goes for if one Party is arrested or commits a crime.
“Chris had a secure contract with his employer; however, when he
was arrested for drunk driving, the contract was considered NULL. and
his employer legally fired him.