How to Formalise the Agreement

The agreement you reach can be:

  • Closed.
  • Failed.
  • Partial.

A closed agreement means that we have signed an agreement and that we have committed ourselves to rights and obligations on both sides.

A failed agreement refers to the fact that there is no agreement and there is no longer any prospect of continuing. A partial agreement can be suspensive, such as when it has clauses or is in cash and you receive credit. The agreement can also be a joint recommendation on some point of which you have to renegotiate with your company to move forward.

There may also be a deal on the points of agreement and disagreement, or an agreement on the process. For example, you may agree to meet with the negotiator each week to make progress on the subject.

So, basically we have different types of agreements after a negotiation:

  • Formalise the disagreement. We meet, we see that we have disagreements in the negotiation and we simply specify that we are not going to agree. We agree to disagree.
  • The agreement to see each other again. Perhaps we have not reached an agreement for whatever reason, but we want to see each other again in order to continue working and so each side can reflect in the meantime.
  • Agreement on the process. This means that we have not reached an agreement, but we do want to reach an agreement. We want to continue negotiating, so what we agree on is not the substance of the matter but the negotiating process.
  • Agreement on a joint recommendation on the substance of the matter. Perhaps we have not agreed, but both parties agree that we must reflect on the subject because a solution must be found (common in international relations between countries, for example).

 

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