What Is Negotiation Meaning?

When any dispute arises between two parties, the first thing which comes in mind is to negotiate. This is a non-binding process of resolving disputes, by which parties to a dispute interact with one another and try to work out a settlement without the intervention of a third party is negotiation meaning

The importance of negotiation can bee concisely and aptly put into words of the former US president.

John F. Kennedy: ” Let us negotiate with fear but let us not fear to negotiate”.

Requirement for Negotiation

Direct negotiation which means that both the party must indulge directly with each other to sort out the solution, neither agent nor any representative should be allowed except parties to a dispute.
The willingness of the party must be clearly seen only then this negotiation will turn in a positive way.
Demands, interest, and goals of the parties must not be considered because if that is the case then they should go for litigation, only reasonable solution on the policy of giving and take is matters here.

Types of Negotiation

Generally, there are two recognized core strategies for negotiation;

Positional Bargaining and,
Principal Bargaining

Positional Bargaining

In this strategy, both parties use their positions in terms of pecuniary and influential, and then they put forward their demands. In such a situation usually, a concession is exchanged.

This is not a very helpful strategy because the party whose position is strong will get more and other parties might face loss.

Principal Bargaining

In this situation instead of using their position, the Principal of justice and of natural law is followed, and if anyone is on the right path will get relief without any difficulty.

The Standard of international trade is used to some a settlement.