Introduction
When you are negotiating a contract, it is important to consider terms that will benefit you not only in the present, but also in the future. Your circumstances may change, so you must think of your current situation but at the same time, consider the possibilities that may occur.
Your contract will likely be a standard form contract.
Depending upon your situation, it is highly likely that you will be using a standard form contract. This means that the contract was previously written by attorneys and is now being used as a template. A template is easy to use and will have boilerplate language, but may not have the language that will be specific to your circumstances or priorities. When using a template or a form contract, if there is a term that you would like to change, request for an amendment prior to signing. It is not unusual for either parties to edit or revise a form contract.
Negotiate changes when the opportunity arises.
Look for opportunities to negotiate changes to the contract. You don’t have to ask for every single change, but it’s important to be aware of opportunities and how to take advantage of them. In many cases, all it takes is asking the right question at the right time. For example:
- “If we do X instead of Y, will that affect our deadline?” (This works well if both parties are in good standing with each other.)
- “Do these character descriptions need to be changed?” (This works well if the contract only requires certain things.)
- “Can we go back through this contract and make sure everything else still stands?” (This works especially well for contracts that were negotiated once before.)
Consider negotiating on social media.
Social media can be a useful tool for negotiating a contract. It allows you to be vocal and public about your requests. You can negotiate in private or public, depending on the situation. If it’s important for your request to remain confidential (e.g., if you’re asking for more money), send an email or letter to your client explaining your request and why it’s reasonable. If confidentiality is difficult due to factors such as your client being paid by another company, you may want to consider posting about it on social media instead of sending a direct email or letter. This way, everyone is aware of the situation and no one feels left out of the loop.
Be prepared to walk away.
When negotiating a contract, it’s important to be prepared for the possibility that you may not get everything you want. If there are certain terms that are non-negotiable for you, be ready to walk away if they are not included in the final draft.
Know your worth and value.
To effectively negotiate, you need to be aware of what others in your field are being paid at different companies. Researching this information can help you know your worth and value, and can make a big difference in your negotiating power.
Be willing to compromise.
While it’s important to advocate for your own interests, it’s also important to be willing to compromise. Identify areas where you are willing to make concessions, and be open to negotiating those points. This can help you build a relationship with the other party and increase the chances of reaching a mutually beneficial agreement.
Remember that contracts are not set in stone.
It’s important to remember that contracts are not set in stone and can often be amended or renegotiated. If something changes in your business or the terms of the contract are not working for you, don’t be afraid to bring it up and see if a new agreement can be reached.
Conclusion
Negotiating changes to a contract can be intimidating, but with the right approach and understanding of your own worth and value, it’s possible to reach an agreement that benefits both parties. Remember to be prepared, research your options, and be willing to compromise and negotiate on social media if necessary. And if all else fails, be prepared to walk away and consider seeking legal advice if necessary.
