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Last minute penalty demand by customer
The CEO of a construction company is in discussion with a buyer, who wants the construction company to build an office space.
The CEO almost clinches the deal when, the buyer makes a last minute demand.
The buyer asks the CEO to include a penalty clause in the contract, that would require the builder to pay a hefty penalty if the building delivery is delayed by more than a month.
The CEO is infuriated with this last minute demand.
How would you as a seller respond to this new last minute penalty demand?
Photo Credits https://www.arorarealtech.com/
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Negotiation is an important life skill
We negotiate most of our waking hours. We negotiate with our team members, colleagues, bosses and vendors at work, with our kids, spouse and parents at home. We negotiate during buying or selling of an asset e.g. house, car and also conflict resolution and during salary negotiations. Negotiation is an important life skill and it contributes to our success.
If we do not negotiate well or don’t negotiate at all then there is a big chance that we are going to leave money on the table, which could have been ours. We often don’t negotiate because we feel it is inappropriate or feel uncomfortable and fear it.
“You don't get what you deserve. You get what you negotiate.” Chester Karrass
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