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Unit13

Contract Signing

Mr. Yoon: Please don’t tell me you are leaving right after the contract negotiation. We have pre-
pared a short program after the contract signing. I really hope you can stay a little longer.
Mr. Carter: Well, I do have a 7 o’clock appointment for another business deal, you know. So I
really should be going. I am late already. I hope you understand.

Mr. Yoon: Our president is due here any minute now for the board meeting and for the signing
of this very important contract. He is anxious to meet you. I think you can still make it on time
for your next meeting. The traffic outside is smooth. I think you won’t get delayed, besides
everything is ready for the contract signing. The lawyers are also here to assist us and answer
any questions that both parties may have. Your duplicates are ready as well. You can bring them
with you as soon as the contract are signed. There’s a waiting notary lawyer here as well. That’s
how efficient we are with regard to these things.
Mr. Carter: Well, in that case, I will stick around for a few more minutes. Is that OK, Mr. Yoon? I
hope that this can be a good beginning for our first ever deal.

1. What important contracts have you prepared or signed on behalf of the
company you’re working in?

Sample answer:
I’m in charge of supplies requisition, so I’m the one who signs for the company regarding big
orders that we make with our suppliers and other partners.

2. What is the process that your company takes in drafting a contract?

Sample answer:
We first set a meeting with our partner to discuss our project. Then, we put our agreement into
writing and start the contract drafting. Once we have our drafts, we let our company lawyers
check them. This stage will go on until both parties are happy with the contract. Only then do
we have the signing.

3. What are the usual points or clauses in the contract where the parties dis-
agree or have to make a compromise?

Sample answer:
The parties usually bargain for the price of the items and the penalties regarding late deliveries
or deficient items.

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