Addressing technical legal issues is just one facet of contributing successfully to a contractual negotiation. To really add value to the process, those leading it must take a more holistic approach to their role, taking into consideration the commercial context of the negotiation, practical and operational realities, the way in which and with whom they communicate and the importance of well-developed interpersonal skills.

In this article we will consider a number of practical steps which we believe GCs, CFOs and COOs should take when engaging in contractual negotiations and which we believe contribute to bringing negotiations to a timely and successful conclusion. We have assumed for these purposes that a considered business decision has been taken to proceed with a counterparty and that pre-contractual due diligence on the counterparty has been satisfactorily concluded.