14 Tips for Negotiating Successfully – Tip#10 Time Is Of the Essence

“Time is of the essence”.

This is a legal term that I was first introduced to when studying contract law many years ago.  In some situations, performing some aspect of a contract or obligation may be time sensitive ie it needs to be done within a certain period of time or risk consequences. These consequences may be obvious to you, and not to others. These consequences may also be relevant to you, and not to others.

The point being that once this clause is inserted into an Agreement, all parties to the contract need to understand that regardless of their position or whether it means anything to them personally, they have to keep the time frames in mind when completing their set of obligations in the contract.

Notwithstanding the legal implications, it’s generally good business sense for all parties to a negotiation to keep in mind that time is important. It is as important to you as it is to the other party.

Doing so indicates respect for the other party while simultaneously resolving all issues as quickly as you should. While time can move in your favour sometimes, it can also easily move against you at other times. If you operate reasonably, honestly and professionally, it will show in your actions. Which oftentimes speaks for you far more than words can.

Next : Tip #11 Speak up! Silence could be taken as acquiescence


About rowena morais

Media Communications and Editorial Specialist. With my strong professional network of contacts, I help individuals and organisations, particularly those within Human Resource and Technology, strengthen their skill-base and brand through compelling writing, beautiful design, content marketing and publishing. Let's talk.

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