Arm’s Length Negotiation

Arm’s Length - Arm’s length negotiation refers to a negotiation between parties who act independently and have no relationship to each other, ensuring that each party acts in its own self-interest. This type of negotiation is characterized by fairness, objectivity, and the absence of any collusion or undue influence, often used to determine the fair market value of goods or services.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RCoJvHjMZAsxOq6tWt43JXH
Label (rdfs): Arm’s Length
Preferred Label: Arm’s Length Negotiation
Alternative Labels: Impartial Deal-Making
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Definition and Examples

Definition: Arm’s length negotiation refers to a negotiation between parties who act independently and have no relationship to each other, ensuring that each party acts in its own self-interest. This type of negotiation is characterized by fairness, objectivity, and the absence of any collusion or undue influence, often used to determine the fair market value of goods or services.
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Class Relationships

Sub Class Of: Transaction Negotiation Dynamics
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Additional Information

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Deprecated: False

Metadata

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