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NEGOTIATIONS 101

NEGOTIATIONS 101

EOG negotiation software is built on generally accepted legal principles of Contract Law.

Negotiations can be a stand-alone bargaining process, a subprocess of a broader commercial activity, a discussion on government policy, or in a form of a long talk with your spouse. Negotiations are a means of getting to the agreeable terms and conditions of a specific deal, reaching an agreement between two or more parties.

Whether aware of it or not, we are always negotiating. Renting an apartment, asking for a raise, buying a new car, bargaining with customers and suppliers, etc, examples are endless and those having a “negotiate everything” mindset are likely to win better deals in every part of life.

At Executive OTC Group (EOG) we are leading innovators and developers of negotiation software, experts in buying and selling cryptocurrency using negotiated contracts. We developed a proprietary off-exchange negotiation software which empowers you to directly negotiate with the entire EOG market ecosystem bilaterally and one on one. We skipped the desktop computer altogether and optimized our negotiation software as a mobile-first platform, best viewed on your smartphone using Google Chrome as the phone browser.
Business architecture of EOG negotiation software was developed based on basic and universal legal principles of contracting law in Canada, United States, and Europe.

Lets refresh on the definitions used throughout EOG Negotiation Software.

KEY DEFINITIONS BY EOG

Negotiation(s) (verb) – is a discussion aimed to reach an agreement. One on one negotiations between two parties (counterparties) are called bilateral negotiations, which are the most common type of negotiations such as negotiating rent with a landlord or a supplier discount. Multilateral negotiations involve more than two parties negotiating at the same time, usually seen when negotiating a government policy or a group agreement. At EOG we facilitate one on one bilateral negotiations directly between EOG members.

Counterparty (noun) – A counterparty is second party, or the other party participating in a financial transaction; every transaction requires having a counterparty for the transaction to occur. More specifically, every buyer must be paired up with a seller who is willing to sell and vice versa. At EOG we use the term counterparty exactly the same, every cryptocurrency buyer has to have a seller, reflected with corresponding BUYING and SELLING Projects. Counterparty can be used interchangeably with the other party, or with contracting party.

Project (noun)- is an individual or a joint venture carefully planned and designed to achieve a particular goal or target. Your Project with EOG is to buy or to sell cryptocurrency (e.g. Bitcoin or Ethereum), in return providing or receiving financial considerations such as CAD, USD, EUR, or another cryptocurrency. An EOG Projects is an open OTC listing, an open deal presented and offered to the entire EOG market ecosystem. The deal terms of your Project are offered to the EOG market ecosystem in the web directory My Dashboard > View OTC Open Offers. Deal terms can be accepted as they are with no changes using the Accept Offer function, or can be negotiated by changing at least one or more deal terms using the Send Proposal function. View and edit your Projects at anytime by selecting the web page directory My Dashboard > My Projects.

Deal Term(s) (noun) – embedded in your Project are the deal terms: Project type (BUYING or SELLING), digital asset (BTC, ETH, XRP, etc), quantity of digital asset, settlement currency (USD, CAD, EUR), bank wire transfer (e.g. restricted to Canada and US only), price per one (1) unit, and terms and conditions. As discussed further on this page, each of these values is a deal term which can be negotiated. View and edit the deal terms of your Project by selecting the web page directory My Dashboard > My Projects > your Project.

Offer (noun) – an expression of readiness to do or to give something if accepted by the counterparty. As a result of negotiations, you receive Offers from other EOG members (the counterparty) which are an expression of readiness to enter into a contract based on the current deal terms. By accepting the deal terms in full as they are without further any further changes a contract is created. View your offers by selecting the web page directory My Dashboard > My Received Offers.

Open Offer (noun) – is an offer exclusive to the EOG market ecosystem. By creating a new Project with EOG, your Project becomes an open offer to the entire EOG membership, where a counterparty can accept your terms and enter into contract. All open offers are listed in our main catalogue in the web page directory My Dashboard > Open Offers.

Proposal (verb) – to present or to offer new or revised deal terms to the counterparty, for the counterparty to accept or reject as so desired. A proposal to another EOG member (the counterparty) changes at least one deal term of the currently offered deal terms, such as proposing new price or terms and conditions. If your proposal is accepted by the counterparty there is mutual agreement on the deal terms and a contract is created. View your proposals by selecting the web page directory My Dashboard > My Sent Proposals.

Contract (noun) – is an agreement between two parties formed as a result of accepting an offer, intended to be enforceable by law. A contract is formed by accepting an offer received from another EOG member through the negotiations process. A contract is also formed by accepting the initial Project deal terms as they are without any further changes. View your contracts by selecting the web page directory My Dashboard > Contracts in Settlement.

Settlement (noun) – is the delivery of goods by the seller and payment for them by the buyer, under an agreed upon trade deal, a transaction, or a contract entered into by the counterparties. At EOG buyers and sellers, the counterparties in a contract, settle their negotiated deal by transferring cryptocurrency to the buyer, and transferring the financial consideration to the seller. At EOG we require and strictly enforce all contracts to be physically settled as per agreed-upon terms and conditions.

Due diligence (noun) – Due diligence is a review of financial records, investigation, or an audit of a prospective investment or product to confirm all facts and details of the deal; completed before or after entering into an agreement or a financial transaction with the counterparty. At EOG, due diligence is a mandatory phase during settlement where buyers and sellers obtain reasonable comfort over existence and completeness of funds and cryptocurrency holdings.

MENU ACTIONS BY EOG

EOG negotiations software has everything you need to be in control of your next cryptocurrency deal.

ACCEPT OFFER

Accept Offer (verb) – accepting an offer received from another EOG member (your counterparty) forms a legally binding contract. Use the Accept Offer function to form a contract with your counterparty by accepting the deal terms of the offer in full without any further changes. At EOG we precisely and diligently designed the offer acceptance mechanism to demonstrate formality, legality, validity, consideration, and intent of both parties to enter into contract.

SEND PROPOSAL

Send Proposal (verb) – by sending a proposal to another EOG member (your counterparty) you are presenting or offering new or revised deal terms, for your counterparty to accept or reject as so desired. When you send a proposal to another EOG member it is shown as a sent proposal in your Negotiations Interface, and reflected mirror image as a corresponding offer received in the Negotiations Interface of your counterparty. At EOG we have developed a brilliant and game-changing Negotiations Interface to facilitate pure negotiations using your mobile smartphone.

DECLINE / RETRACT

Decline/Retract (verb) – to refuse an invitation or an offer; to withdraw your proposal. By declining an offer or retracting a proposal you are pulling back on what you have proposed, closing and concluding your negotiations. At EOG the Decline / Retract function should be used when you want to end your negotiations completely and entirely. If you want to keep negotiating, use the Send Proposal function rather than declining or retracting functions which will close your negotiations. View Decline / Retract history by selecting the web page directory My Dashboard > Negotiation History.