9 Useful Expressions for Business Negotiations in English | EnglishClub

One way to reduce the risk of miscommunication is to get a firm grasp on the most commonly used business English words and phrases in negotiations.

Face-to-face negotiations can be logistically difficult, time-consuming, and costly. An increasing number of businesses have chosen to tackle these issues by utilizing negotiation training. However, while virtual meetings can save time and money, interactions that aren’t face-to-face run the risk of hitting a miscommunication stumbling block.

One way to reduce the risk of miscommunication is to get a firm grasp on the most commonly used business English words and phrases. Here are some words and phrases you may come across often and how they may be used.

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to reach a consensus

Definition: To reach an agreement.

This phrase may be used in different ways. For example:

To highlight the goal of the discussion: “We hope to reach a consensus on the two pending items of the deal.”
To confirm an outcome: “We have reached a consensus on when payment is due.”
To indicate that an agreement has not been reached: “We are unable to reach consensus on the items discussed.”

to drive a hard bargain

Definition: To work very hard to get an agreement in a negotiator’s favor.

This expression can be used to describe the nature of the deal or the other negotiator’s approach. For instance, “They’re driving a hard bargain and have refused to compromise on any of the terms.” Or, “You drove a hard bargain, but we were able to come to an agreement.”

to come to terms

Definition: Typically means to gradually move towards an agreement.

The process of reaching a consensus may be referred to as coming to terms.

Example: “After much negotiation, we’ve come to terms on the cost of the online trading resource.”

concession/to concede

Definition: Something you give up when trying to make a deal. Negotiation trainers advise that a concession may also be referred to as a “trade-off,” as it’s usually given in exchange for something.

For instance, let’s say a buyer wants to negotiate the cost of an item. The seller may agree to “give up” the higher price for a lower one. The buyer may say, “In order for us to reach a deal, some concessions must be made.” In turn, the seller may respond, “We’re willing to concede on the price and offer you $65 per piece instead of $75 for a longer term.”

“To concede” may also be used in a question or statement. For example, “What are you willing to concede?”

a deal breaker

Definition: An item or an issue that has the potential to stop a negotiation. In negotiation training, a deal breaker is described as operational, legal, personal, behavioral, or cultural, among other reasons.

Here are some ways this term may be used:

To list deal breakers before the meeting: “The use of bullying tactics is a deal breaker.” Or, “The following conditions are deal breakers for us.”
To identify a deal breaker that comes up during the conversation: “This finding is a deal breaker for us.” Or, “If we cannot agree on point number two, this is a deal breaker for us.”

counteroffer

Definition: An offer made in response to a previous offer by the other side. A counteroffer may also be referred to as a counter-proposal or as an alternative offer.

Let’s say a supplier is negotiating with a business about a new sales service. The supplier’s offer involves a 15% discount to try the service. The business instead suggests 20%, which is their counteroffer.

highball/lowball offer

Definition: An extremely high (highball) or low (lowball) offer. Whether an offer is high or low depends on the value of the negotiated item.

For example, let’s say you’re trying to close a deal on office space. The landlord says that the space costs $2,000 per month. Assuming that the price represents fair market value, an offer of $800 is a lowball offer. On the other hand, a seller’s price of $3,500 is a highball offer.