It’s possible to clinch a deal without going into details, but this kind of agreement will soon fall apart. Here is where a tacit agreement comes in before initialling the papers. Not to do so would be to go against what has been agreed upon.

A lot of homework is necessary before the stage is set. Needless to say, investigation is a routine procedure. To find out whether the other party is ready to conclude a deal. This is to ensure that nothing untoward happens to derail the process. Any resolution hammered out has to be genuine, real and substantial.

Before finalising a deal the terms and conditions have to be spelled out clearly. The specifics can be inserted at a later date depending upon the progress of talks. Hastening this may put obstacles in the way and make light of what has been agreed upon in principle. For nothing works without formalities. And mulling over the wording and the nuances becomes important. Before embarking upon a project, the deal has to be given shape. Experts are usually called in to give their opinion and provide a gist of the matter. They fill in the position of a consultant and the report filed in shortly afterwards is given due weight. Niceties are, of course, observed but if there is initial resistance then arguments could fly back and forth.

But this usually does not transpire and there is much civility and cordiality behind the facade of smiling faces. Because transactions are also concluded, needless delays and hassles are set aside and differences ironed out so that the work can be completed within the timeframe.

Deals are intangible and their only worth seems to be in being documented. Any agreement depends upon several factors.

Ideally these are firm commitments to uphold the rulings, to provide the necessary groundwork and submit the relevant details. Therefore, by setting these out beforehand the various stages of planning and execution of the project in question are laid out.

When everything is settled, the affair is duly formalised. Handshake at this point is a sign of partnership, which may or may not have been brokered by a third party. The aftermath is marked by an exchange of papers on which the deal is inked.