FOLIO Ontology

Arm’s Length

IRI:
https://folio.openlegalstandard.org/RCoJvHjMZAsxOq6tWt43JXH
Preferred Label Arm’s Length Negotiation
Alternative Labels
Impartial Deal-Making

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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