When I'm pressed for time with contract negotiations, I make sure to focus on the most important clauses first, such as payment terms, responsibilities, deadlines, and dispute resolution. I ensure both parties clearly understand their obligations. Using a checklist helps me cover all crucial points and avoid missing anything important. If needed, I prioritize the key aspects and leave less urgent details for later. I always review the contract carefully, and if required, seek input from a legal expert to ensure everything is properly addressed.

Preparation is key to closing a deal confidently. Allocate about 90% of your time to planning your negotiation strategy. For every hour spent negotiating, invest nine hours in preparation! When under time pressures in contract negotiations, focus on strategic prioritisation & clear communication. Review past agreements to establish a baseline. Address key clauses like payment terms & responsibilities upfront. Ensure stakeholder alignment on must-have clauses to streamline discussions. Use checklists to track critical elements & conduct iterative reviews. Finally, stay flexible & ready to pivot as needed.

Balancing a thorough review with time constraints involves prioritizing critical contract sections, allocating specific time blocks, and breaking the review into manageable parts. In my experience negotiating an integrated mechanical contract with five contractors, we set a start date of October 1, 2024. We held weekly meetings to remove impediments and leadership meetings for updates. Using complex pivot tables and ChatGPT for data analysis, we distributed sections like Scope of Work and Schedule. We applied the 80-20 rule, focusing on the 20% of items that accounted for 80% of the spend, ensuring thorough review and effective negotiations.

In contract negotiations with tight deadlines, I prioritize identifying the client’s main objectives and focusing on the essential clauses that ensure legal security and efficiency. Additionally, using standardized checklists and reviewing similar previous contracts is an effective way to save time and reduce errors. Another strategy is to divide the contract into critical sections and delegate specific reviews to the team, when possible. This enables a collaborative and more agile approach without compromising the quality or the key points of the negotiation.

Pressed for time to complete is always stressful. I’ve found that I review our mandatory items and get internal approvals started right away. Also a team meeting to discuss the path forward is best practice.

Create a checklist of the key clauses Prioritize red flags Allocate time efficiently Clarify unclear language Focus on negotiation leverage

If you are pressed by time, it only means you failed negotiating when the time was right. You should never negotiate under pressure, that can only lead to unforeseen mistakes.

It can be helpful to start with a Heads of Agreement, where both sides agree on what is critical to them. As long as these are adhered to the details become less controversial.