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. TeaEx a business based in Assam, India, that grows, produces and exports loose leaf tea, which is sold internationally at US$3.00 per kilogram b. World of Tea A Canadian business that imports different loose leaf teas (black, green, herbal). World of Teas buys loose leaf tea from international exporters and

ASSIGNMENT TEMPLATE

Date:

Names of both Partners:

Roles:

Partner A Executive of TeaEx:________________________________

Partner B World of Tea: _________________________________

PART A Term Sheet (20 marks)

Name of CONTRACT TERM or CLAUSE	DETAILS of how the term will operate in the contract (use simple English as you would want it reflected in the contract) (1 mark)	REASONS why the term is important to include (1 mark)
Example: Delivery Date:	TeaEx will deliver the products by no later than April 1, 2023.	A confirmed delivery date is essential. Tea retailers often market seasonal teas (such as Summer CItrus Tea) and need to have the loose leaf teas in stock before they develop seasonal blends.
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PART B Reflection (5 marks for each partner)

Each partner must answer the following questions (100-200 words per item):

Partner A Executive of TeaEx.: ________________________________

What terms of the contract were difficult to agree on and why? (2.5 marks)

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 World of Tea.: _______________________________

What terms of the contract were difficult to agree on and why? (2.5 marks)

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)