HRM IBS 850 Negotiating and Building a Term Sheet - Assignment

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IBS 850 - Assignment: Negotiating and Building a Term Sheet DUE: Week 9 before class LEARNING OBJECTIVE: To apply your understanding of international sales contracts and key contract clauses (learned in Chapters 6 & 7) in planning for an international sales transaction.

VALUE: This assignment is worth 17.5 of your final grade and is marked out of 25.

HOW IT WORKS: 1. This is an assignment to be done in pairs. Please choose 1 partner to work with. Sign up on Padlet.com for your class: -

For NWW: https://padlet.com/shellyannmurphy/2lyshfpyefyucr7 For ZWW: https://padlet.com/shellyannmurphy/4y4mywdxau28iqqt For NXX: https://padlet.com/shellyannmurphy/t5bpdo9ii69y425q If you don’t have a partner, put your name up with an ** to indicate that you are looking for a partner and another single student can join you.

2. Each pair will submit 1 assignment. You must work on the assignment together. One partner from each pair will submit the assignment for the pair (in a Word document via SafeAssign on Learn@Seneca). The submitting partner should share my comments/feedback with his/her other partner. You will each be assigned the same mark for Part A, but your mark for Part B may be different than your partner’s. a. Part A – submit the completed template (20 marks) b. Part B – reflection (for each partner) (5 marks). i. NOTE: that you will only be marked on your own reflection (not your partner’s) 3. Each individual will choose a role (a different role for each partner). You will each play the role of an executive for one of these companies: a. Shenzhen International Inc. – A business based in Guangzhou, China that manufactures Christmas trees and other decorations (wreaths, balls, ornaments, garlands). They have been in business for two decades and have clients in Europe, North and South America.

b. Continental Corporation – A Canadian business that has subsidiaries in Mexico and the United States of America (USA), is a major supplier and distributor of Christmas trees and other decorations (wreaths, balls, ornaments, garlands) to major retailers in Canada, USA and Mexico, including Walmart and Costco.

4. ASSIGNMENT: You will negotiate a term sheet for a contract for the sale of Christmas trees and other decorations (wreaths, balls, ornaments, garlands) by Shenzhen International Inc. to Continental Corporation. Continental Corporation will include these products in their holiday This study source was downloaded by 100000859607764 from CourseHero.com on 03-22-2023 23:39:30 GMT -05:00

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catalogue so that retailers can order directly. It is important that the goods are in stores during the holiday period (November – December 2022). o Prepare (in advance) for the negotiation of your contract by considering the elements and terms that you would like to have in your term sheet; o Then, meet with your partner (the executive of the other company) to negotiate and create a term sheet together for the sale transaction. 

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PART A – Term Sheet - Using the attached template, list and explain ten (10) elements (or terms) that you have agreed to include in your term sheet (and ultimately in the final contract) with the other company;  For each term, provide details of the term; and reason for including it. Be as specific as possible. (2 marks for each term).  For example, you may want to address payment terms, currency, shipping and delivery arrangements, and dispute resolution. You may improvise or add facts if needed.  Do not include the example provided in the template as one of your 10 terms.

PART B – Reflection - After you have created the term sheet with your partner, answer the reflection questions in Part B on your own. You will be marked individually on this portion of the assignment.

General Assignment Notes:  Use your own words;  No legal language is required;  If you quote from the textbook, you must cite properly;  Do not use any resources other than the textbook and your class notes;  One partner should submit the completed assignment (including reflections from each partner) via SafeAssign at the link provided on Blackboard; and  Be sure you include the names of both partners on the assignment. [use the assignment template on the next page to submit your assignment]

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ASSIGNMENT TEMPLATE Date: Names of both Partners: Roles: Partner A – Executive of Shenzhen International Inc.:________________________________ Partner B – Continental Corporation: _________________________________ PART A – Term Sheet (20 marks) DETAILS of how the term will Name of CONTRACT operate in the contract (use TERM or CLAUSE simple English as you would want it reflected in the contract) (1 mark) Example: Shenzhen International Inc. will Delivery Date: deliver the products by no later than October 1, 2022

REASONS why the term is important to include (1 mark)

A confirmed delivery date is essential.

Retailers market Christmas trees and other decorations (wreaths, balls, ornaments, garlands) and Continental Corporation needs enough time to assemble, package and ship the products to the retailers on time.

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PART B – Reflection (5 marks) Each partner must answer the following questions (in 100-200 words per item): Partner A – Executive of Shenzhen International Inc.:________________________________ 1. What terms of the contract were critical for you that were different from the other side or difficult to agree on and why? (2.5 marks) 2. What are the key takeaways (lessons) for your next contract negotiation (in real life)? Refer to specific examples from this negotiation in your answer. (2.5 marks)

Partner B – Executive of Continental Corporation:________________________________ 1. What terms of the contract were critical for you that were different from the other side or difficult to agree on and why? (2.5 marks) 2. What are the key takeaways (lessons) for your next contract negotiation (in real life)? Refer to specific examples from this negotiation in your answer. (2.5 marks)

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