With the possible exception of that ego-enhanced titan of real estate and self-promotion, Donald Trump, most of us don’t particularly relish the idea of sitting down to hammer out a new contract. We don’t care for the process at the car dealership, we’re skittish in the lawyer’s office where we close on our homes, and we wouldn’t mind skipping the periodic visit to the airport manager’s office where we delve into the myriad unpleasant possibilities that may arise with each new hangar lease.
In short, almost nobody puts contract renegotiation at the top of their list of favorite things to do on a sunny afternoon.
Still, both sides need the protection of a contract. The days of long-term business arrangements that were based on a handshake and a smile are long gone – if they ever existed at all. Both parties need the assurance that they know exactly what they are agreeing to when it comes to negotiations. [Read more...]