REBC 4-phase model (Emmerson, 2009, 126)

1) Relationship building: getting to know the other person, exchanging information about the two companies, discussing the market, and generally building trust.

2) Exploring initial positions, stating needs and asking questions. In a commercial negotiation, the supplier explains the product in depth and shows how it brings value to the customer’s business.

3) Bargaining – not just on price, but on a range of linked issues such as quantity, minimum order, discounts, delivery time, service plans and warranties (guarantees), terms of payment, exclusivity in a particular market, the duration of the contract, transport costs, arrangements for sharing advertising costs, penalties if clauses in the contract are not respected.

4) Closing the deal