ESL Podcast 768 - Negotiating Price

bid - a written proposal indicating how much one will charge in order to complete a specific project or type of work; a statement of the amount of money one is willing to pay to buy something in an auction

The state is requesting bids from construction companies to fix the fallen bridge.

to come to terms - to reach an agreement or understanding; to agree on something

It took days of negotiations, but they finally came to terms and agreed on a selling price.

rock-bottom - as low as possible; the smallest possible amount of something, especially when talking about money

The computer store is selling laptop computers at rock-bottom prices for one day only.

flexible - willing and able to adapt and change as needed; not rigid or strict

Why can't the IRS be more flexible about collecting taxes?

to do better on - to improve in some way; to be superior in some area or action; to make something better

If Li doesn't start doing better on the exams, he won't pass the course.

to quote - to present a price in writing, especially as part of a proposal

Why did the company quote $750 for licensing? Don't they already have all the licenses they need?

labor - work performed by people, not machines

When building a new home, what costs more, labor or materials?

to trim - to reduce the amount of something; to make something smaller

Stefan is trimming calories by not putting cream in his coffee.

to discount - to reduce the price of something, especially for a short period of time

A lot of stores discount summer merchandise at the beginning of fall.

attractive - pretty; something that is nice to look at or receive; something that captures one's attention and seems pleasant or good

The cable company is making an attractive offer to try to get new customers.

to drive a hard bargain - to be a tough negotiator; to not come to an agreement quickly because one insists on receiving certain benefits

Car salespeople are trained to drive a hard bargain with customers.

fixed cost - a type of expense that must be paid not matter what, regardless of what activities or sales take place

No matter how many units we sell, we still have to pay our fixed costs like rent, electricity bills, and salaries.

to meet (someone) halfway - to compromise and evenly split the difference between two points in a negotiation

She wanted to sell it for $400, but I said I could only afford $200. Eventually I met her halfway at $300.

doable - able to be done; possible; acceptable

The boss wants us to finish this work by Friday, but I don't think it's doable.

stumbling block - an obstacle; something that makes it difficult, but not impossible, to reach one's goal; something that presents a challenge and slows one down

Harold never paid a speeding ticket from more than three years ago, and that proved to be a stumbling block when he had to renew his driver's license.

revised - updated; corrected; referring to a new version of something

How long will it take you to make those changes and send the revised report?