4 Steps for Successful Collaborative Contracting

Maintaining strong relationships with contracting partners is vital for businesses not only to survive but to thrive. Unfortunately, many companies have a rather negative view of contracts and end up approaching the process with a slanted mindset. It is understandable given that for quite some time contracts tended to involve a somewhat adversarial relationship, as both sides focused on jockeying for position and power. These days, however, this has begun to dissipate and there is widespread recognition that the contracting process must entail compromise and collaboration as opposed to competition. Here are four things to keep in mind to achieve successful collaborative contracting:

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