Contract negotiation is the process of reaching mutually agreeable terms and conditions between two or more parties for a legally binding agreement. This can involve various aspects such as payment terms, delivery schedules, quality standards, dispute resolution mechanisms, and other terms relevant to the agreement. Negotiating contracts requires effective communication, problem-solving skills, and a good understanding of the legal and business implications of the agreement. Successful contract negotiation can result in agreements that are beneficial for all parties involved and can help to build strong and sustainable business relationships.