Contract Negotiation Services
Effective contract negotiation plays a prominent role in the procurement cycle. The lack of a comprehensive contract, as well as an in-depth review of the contract, poses a risk to both parties, but more specifically the buyers. The absence of price protection and the inclusion of misleading price terminology are two examples of potential pitfalls during contract negotiations that lend strength to the seller.
Intelligent contract negotiations rely on facts instead of assumptions or suppositions. At Dryden Group, we understand the importance of research before commencing the negotiation process. We take the time to uncover the facts that relate to the current supply chain environment and determine how they will impact your negotiations. When combined with our years of procurement contract expertise, you can be sure you will be fully armed when entering the negotiating process.
Our professional negotiation services
also include contract drafting that will protect your rights and provide an equitable agreement for all parties.
Benefits of Our Contract Negotiation Services
The many advantages of our contract procurement process include:
- Comprehensive Review of terms and conditions: Inconsistent purchasing practices and the failure to secure competitive rates are common symptoms of insufficient contract management. We will execute a complete review of all contract terms that involve pricing, conditions, compliance, supplier service obligations and performance metrics of purchasers and suppliers. We’ll ensure you are working with reliable, reputable suppliers, and if necessary, help you locate more suitable vendors.
- Marketplace comparison: A reliable method for evaluating the fairness of a contract is comparing its terms and conditions with similar agreements in the same vertical market. We will analyze your contract to ensure that it is marketplace competitive and sustainable for the long term.
- Conflict resolution steps: Conflicts can arise during the performance of even a well-drafted contract. We will ensure the implementation of appropriate measures to resolve disputes equitably and expeditiously.
- Identifying the meeting point: The most successful negotiations are those where the parties can achieve a meeting of the minds. Our skilled, experienced negotiators have the savvy to identify the most pressing needs of each side and find the means to bring them together.
Contract Negotiation Options
When we negotiate on your behalf, our team at Dryden Group may consider several courses of action, including:
- Setting up favorable payment terms.
- Maximizing the potential of your accounts payable.
- Evaluating your payment terms based on your current relationship.
- Negotiating longer payback terms.
- Spreading out your accounts payable.
- Creating a singular point of communication with your supplier.
- Tactfully handling payment disputes.
- Consulting with other industry associations.
- Seeking lawyers for arbitration or litigation.
Why Choose a Professional Contract Negotiator?
With all of our years in the industry, our experts at Dryden Group understand procurement contracts inside and out. We're fluent in the industry jargon and have the informational insights necessary to determine if your current rates are fair in the marketplace. If necessary, we can even find new procurement avenues that offer a more competitive rate or negotiate on your behalf to get a more just price. A professional contract negotiator from Dryden can help you with the following terms of your contract:
- Pricing: Dryden enables you to secure a reasonable procurement spend price and avoid unmanaged or mismanaged procurement spend. We'll make sure you have standardized control and contractors for production, overhead and general supplies.
- Clear conditions: We help our clients get contracts that have clear price protections, payment terms and delivery schedules. We'll even create competing contracts if necessary.
- Compliance: When you partner with Dryden Group, you can be sure that the contract you get is compliant with every regulation and standard in your industry while still staying at a profitable price point for you. We have experience working with contracts in the cybersecurity, technology, intellectual property industries and more.
- Keep roles clear: Dryden takes the guesswork out of your contract. We'll make sure that your contract has clear sections regarding material losses, insurance, confidentiality and rights of access. We turn the balancing act of contract negotiation into a clear art and ensure that every role has its own dedicated contract section for clarity.
- Performance metrics: Every contract needs a clear set of performance metrics so you can efficiently measure your supplier's performance. We determine and introduce fair KPIs that allow you to track and manage your supplier's success with ease. These metrics may include KPIs like deliveries on time, ordered vs. received products and ordered vs. invoiced price.
Trust Dryden Group for Your Negotiation Needs
Dryden has more than a decade of experience negotiating with some of the largest organizations in the procurement industry. Whatever your budget, we can save you money so that you can get the most out of your indirect commodities. Your bottom line is always our top priority. Visit us in person or contact us online to learn more so we can start negotiating your contract today.
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