2. You will negotiate a term sheet for a contract for the sale of batteries by Recharge Corp. to IBS Automotive Inc .
   • Prepare on your own (in advance) for the negotiation of your contract by considering the elements and terms that you would like to have in your contract.
   • Then, meet with your partner (the executive of the other company) to negotiate and create a term sheet together for the sale transaction.

• 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 (what you have agreed to, specifically) and the reason for including that term. Be as specific as possible.
  • 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 (delivery date) as one of your 10 terms.
  • Do not include terms that do not require any negotiation, like the names and addresses of the parties.

Executive of Recharge Corp.: _______________________________

1. What terms of the contract were difficult to agree on and why?

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.

PART A Term Sheet

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:	Recharge will deliver the product to IBS Corps Oakville, Ontario and Laval, Quebec factories by January 15, 2024.	A confirmed delivery date is essential. IBS needs to have the batteries by this date so that they can be included in the new EVs to be sold in 2025.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.