The last step is the validation of an agreement that has been worked out and elucidates how the parties will supervise each other’s actions to ensure that the negotiated agreement is carried out. Pros and Cons of NegotiationThere are numerous advantages to a negotiation process.1. Negotiation is a party-based dispute resolution that only involves the stakeholders and no additional third party which makes it a private affair.2. Negotiations safeguard the freedom of the parties. The parties are free to set plans of their choice which helps in the attainment of the purpose of the negotiation.3. The consent of both parties is regarded. Also, it is made sure that there is no play of powers and both parties are given equal footing to speak.4. The negotiations have a possibility of a more successful result as it is eventually grounded on the party’s interest and is completely run by the party’s consent to dissolve the dispute.5. Negotiation is a voluntary process and there is no intrusion of any third party in the proceedings which results in the protection of the confidential information.Some of the disadvantages of the negotiation process are:1. The parties may not always be equal in status and power, which leads to a situation where the party in power uses the scope to dominate the other party’s consent. The consequence may be an unfair agreement which acts as a big disadvantage to the process.2. The disagreement between the parties occasionally leads to an impasse. An impasse is a situation when the disputant parties come to a halt in their discussion and they are not ready to proceed further. This happens when one of the parties is stubborn over its goals and no middle ground is achieved.3. The walkout situation occurs when an impasse frustrates the parties to such an extent that no productive discussion can take place.4. An ineffective negotiation results in unpleasantness between the parties. This leads to strained relations.Developments in NegotiationNegotiation is not always a harmful process. In fact, it has the capacity to be a remedial process which helps the disputing parties to converse and reflect upon their differences and settle their disagreements. The cooperative bargaining style can be adopted in the field of negotiation so that the dispute can be resolved amicably. A skilled negotiator should be an expert in varying between the distinct approaches to negotiation to accommodate the specific issues that may arise during the process.Negotiation can be invoked by the parties at any time, even if the matter is pending in the court. Likewise, it can be terminated at the discretion of the parties. It is the choice of the parties to decide their fate and reach an amicable settlement.
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