Executing the agreement
A successful negotiation leads to the signing of a contract by the parties after incorporating all the mutual agreements reached during negotiations. Execution of the agreement does not involve just the signing of the contract, but it represents the beginning of the contract?s performance for the deliverables covered in the contract. Hence, a key part of executing a contract (negotiated agreement) is providing performance feedback. Both the contractor and the buyer have responsibilities as per the contract, which they must discharge. Thus, both parties should build upon the success of a negotiated agreement and reaffirm their commitment to pursue future opportunities.
Here we review three categories of conclusion of negotiations between parties: