Suster suggests having a signing party, where every party involved with a project flies to a single location and stays in a hotel together until the deal is completed.
During a previous negotiation, he says, it was a very small fee for us to pay for everybody to fly together and stay in a hotel relative to the costs of delays.
While not all of the parties involved were sold on the idea, he says, they went, anyway.
“We spent several hours in a room,” he writes. “We took several breaks for each side to discuss issues privately that were in contention. We made phone calls to others.”
Suster says it’s not always easy to get the various parties of your deal to agree to be in a room all together at one time, but if you can make it happen it is a much faster way to get a deal done.
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