Learn how to spot failing contracts and renegotiate effectively with tactics to address economic challenges and supply chain issues.
Given the rapidly changing economy and supply chain issues, businesses are often faced with contracts that no longer make practical or economic sense. The inability to revise these contracts is often fatal to the business. This presentation will managers and business owners spot these contracts and learn how to renegotiate them. The course will provide concrete tactics and strategies to use when seeking to revise a contract that is failing.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
What Is a Negotiating Hole, and Am I in One?
- Cash Flow Challenge
- Performance Compliance Issues
- Relationship Conflicts
I Am in a Negotiating Hole, How Do I Get out?
- Be Honest and Disclose the Problem
- Maintain Composure
- Focus on Long Term Goals
- Seek out Creative Solutions
Specific Tactics
- Ensure You Have Carefully and Succinctly Identified the Problem
- Identify Key Stakeholders
- Identify Goals of Stakeholders
Analyze What Value Can Be Offered
- Be Flexible
- Concessions That Sill Make Arrangement Viable
- Find Revisions That Will Lead to Mutual Benefit
Stay Positive
- Ask Questions to Elicit What the Other Party Is Willing/Can Do
- Focus on Long Term Relationships
- Approach Discussion With Empathy
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Credit
More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 12, 2025.
Call 1-866-352-9540 for further credit information.
- CPIM/CFPIM/CSCP 1.0
- This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Faye C. Rasch
Wenokur Riordan PLLC
- Partner at Wenokur Riordan PLLC in Seattle, WA
- Current practice emphasizes all components of insolvency law and creditors’ rights
- Represents creditors, debtors, and committees through all phases of Chapter 11
- Negotiating with vendors is a key component to the success of distressed companies
- Has successfully negotiated with vendors in a wide variety of businesses, including but not limited to, fish processing, rock mining, real estate development, and skilled nursing
- Has successfully reorganized numerous businesses with cash flow challenges that went on to be successful and profitable
- Member of the State Bar of California, the State Bar of New York, the State Bar of New Jersey, the American Bar Association, and the Los Angeles County Bar Association
- M.B.A. Degree, Pepperdine University; J.D. Degree, Fordham University School of Law; B.A. Degree, New York University
- Can be contacted at [email protected]
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Credit
More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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- OnDemand Courses
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- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
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- State Specific Credit Tracker
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