Learn how to spot failing contracts and renegotiate effectively with tactics to address economic challenges and supply chain issues.
Given the rapidly changing economy and supply chain issues, businesses are often faced with contracts that no longer make practical or economic sense. The inability to revise these contracts is often fatal to the business. This presentation will managers and business owners spot these contracts and learn how to renegotiate them. The course will provide concrete tactics and strategies to use when seeking to revise a contract that is failing.
Learning Objectives
- You will be able to define a negotiation hole.
- You will be able to describe tactics to get out of a negotiation hole.
- You will be able to discuss tone and strategy of these discussions.
- You will be able to explain why a negotiation hole discussion is different than a regular negotiation.
Agenda
What Is a Negotiating Hole, and Am I in One?
Cash Flow Challenge
Performance Compliance Issues
Relationship Conflicts
I Am in a Negotiating Hole, How Do I Get out?
Be Honest and Disclose the Problem
Maintain Composure
Focus on Long Term Goals
Seek out Creative Solutions
Specific Tactics
- Ensure You Have Carefully and Succinctly Identified the Problem
- Identify Key Stakeholders
- Identify Goals of Stakeholders
Analyze What Value Can Be Offered
- Be Flexible
- Concessions That Sill Make Arrangements Viable
- Find Revisions That Will Lead to Mutual Benefits
Stay Positive
- Ask Questions to Elicit What the Other Party Is Willing/Can Do
- Focus on Long Term Relationships
- Approach Discussion With Empathy
Speakers
Faye C. Rasch,
Law Office of Faye C. Rasch- Current practice emphasizes all components of insolvency law and creditors’ rights. She represents creditors, debtors, and committees through all phases of Chapter 11.
- Negotiating with vendors is a key component to the success of distressed companies. She has successfully negotiated with vendors in a wide variety of businesses, including but not limited to, fish processing, rock mining, real estate development, and skilled nursing.
- Has successfully reorganized numerous businesses with cash flow challenges that went on to be successful and profitable.
- Earned her B.A. from New York University, New York in 1999, her J.D. from Fordham University School of Law in 2002, and her M.B.A. from Pepperdine University in 2007.
- Member of the State Bar of California, the State Bar of New York, the State Bar of New Jersey, the American Bar Association, and the Los Angeles County Bar Association.
- Contact information: fayer@rasch.law
