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The formal contract procedure

Foster: Yes, I’m fully satisfied with your product’s quality and design. I can’t give any more com-
ments for improvement. It’s fine the way it is.
Park: It will be to your advantage to buy from us, Mr. Foster. I know you’ll be satisfied.
Smith: Well, we have to get something out of the way though. I also want a bigger discount, and if
you can assure us that the shipment definitely won’t be delayed, then we can proceed with the
signing of a contract, OK? Is that fine, Mr. Park?

Park: We can guarantee on-time delivery, Mr. Foster. There’s no problem with that. So, does this
mean we can work on the contract now?

Foster: I guess we can go ahead, now. Of course, you’ll provide a full after-service as you did be-
fore, right? I just want to be sure.

Park: Certainly, you can be assured about that. We plan to have extra maintenance personnel to
assist our service engineer here, and we’ll also increase your spare parts inventory. I hope that’s
okay with you. Just let us know if you want any upgrade in terms of parts or service and we’ll
do our best to accommodate your request.
Smith: That’ll be very helpful. I appreciate your effort, Mr. Park. Did you bring the contract draft,
and could you briefly explain the formal contract procedure?

1. How do you ensure that contract preparation is smooth and stress-free?

Sample answer:
We assign a team that specializes in this type of work. This is their main job and the members
have mastered the process of contract preparation. They have been doing this job for so long
that they can do the work smoothly without any stress.

2. Have you ever had a problem regarding contract preparation? How did you
solve it?

Sample answer:
We had problems before we had an assigned team. The problems dealt mostly with the tech-
nicalities. We had to consult a lawyer at the last minute to solve the mess. It turned out okay in
the end.

3. How involved are your bosses in contract preparation?

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