When dealing with a negotiation with financial institutions, a series of principles or good practices must be taken into account, which may be advisable and are usually recommended by experts in these matters and which, fundamentally, are the following:
- To consider the financial institution as a provider of resources and basic services for the development of the activity with which, like with any other, a clear framework of commercial relations must be established.
- To search and find the right negotiator at all times and for each type of transaction. It is desirable to know the structure and functioning of the financial institution when cataloguing its clients and organizing business relationships with them.
- To negotiate always, on an overall basis, every banking service that the businessperson will need must be dealt all together and jointly, in order to appreciate all the implications of the effective commercial link. At this point, an adequate forecast of the operation and volumes of financing and banking services necessary for the company’s activity becomes an essential aspect.
- To pay attention to the market situation and competitor offers, without losing sight of the importance of medium and long-term relationships. In any case, it may be appropriate to avoid financial dependence on a single entity.
- To provide information about the economic-financial evolution of the company to financial institutions.
