Negotiation Agreement

Definition: a Negotiation Agreement is a legal contract (typically in the form of a written document) whereby each party commits to enter into negotiations in good faith to conclude a subsequent contract whose terms and elements (basic and secondary) have not yet been determined.

Given the considerable procedures and many stages involved in the negotiation process, and due to the lack of good faith of many negotiators, it is preferable to write the negotiation contract in detail, including the specific obligations of the parties.

Learn more about negotiation agreements

More on business ethics: Doughnut Economics, Insider Trading, White Collar Crime.

MBA Brief offers accurate and concise definitions of MBA concepts, frameworks, methods and models.

We love to keep things really short, but provide links to learn more about your subject and to similar concepts.