What is the term for the process of negotiating an agreement or sale?

The process of negotiating an agreement or sale is best described as bargaining. This term specifically refers to the interaction between parties where they discuss terms, propose conditions, and strive to reach a mutually beneficial agreement on the price or terms of a transaction. Bargaining involves both parties making concessions or adjustments in their initial offers to find common ground, making it a central aspect of negotiation.

While discussions can be a part of the bargaining process, they are more general and do not necessarily imply a structured attempt to reach an agreement. Contracting refers to the formal act of creating a contract after an agreement is reached, rather than the negotiation itself. Compromise involves each party giving up something to reach an agreement, which can be part of the bargaining process but does not encompass the full range of activities involved in negotiating. Therefore, the most accurate term for the negotiating process is bargaining.