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Drafting and risk · Level Advanced · Legal Negotiation Contract
Negotiation: what is tradeable
The other side wants several changes.
Prompt
Two jobs: cover the cases that can happen, and attach responsibility to an executable person and date. Elegant but unenforceable is worthless.
Task: The other side wants several changes.
[Before you start, do three things]
1. Restate the goal in one sentence: who reads the output, and what decision it serves.
2. If I have not given you the following, ask me. Do not assume:
- their requests
- our commercial floor
- risk exposure
- relationship value
3. Say how you plan to do it (at most 5 steps) and wait for my go-ahead.
[Go through each of these]
- three tiers: non-negotiable, tradeable, concession
- the cost of each concession
- a trade package: I give A, you give B
- knock-on risks of conceding
[Process]
1. List five possible scenarios including the worst
2. For each: who does what, how soon, and the consequence
3. Use checkable words, not 'reasonable' or 'timely'
4. Check clauses for conflict
5. Mark commercial terms needing business input
[Output]
Scenarios, responsibility, deadline, consequence, conflict check.
[Do not]
- No 'timely' or 'reasonable'
- Never an obligation without a subject
- No unenforceable penalties
- Do not give legal opinions beyond your remitWhat to state before it starts
Leave these unsaid and the model fills them with an assumption. Most 'wrong answers' start here.
- their requests
- our commercial floor
- risk exposure
- relationship value
Go through each of these
Where this kind of work most often goes wrong. Already in the prompt, so you do not have to remember it.
- three tiers: non-negotiable, tradeable, concession
- the cost of each concession
- a trade package: I give A, you give B
- knock-on risks of conceding