The framework agreement aims to lay the foundations for long-term cooperation to encourage the two companies to jointly improve their long-term technical and business performance by providing multi-project synergies, repeatability and life thinking. Anchoring is essential, because one of the parties must first open in the negotiations. The key is to anchor with a rational or irrational reference point. Chevron has awarded a framework contract to Aker Solutions to supply umbilical cord for its oil and gas fields in the Gulf of Mexico. What to do if your opponent drops the first anchor? According to Subramanian, the first, and perhaps most important, step is to recognize the move. (a) this Agreement lists the whole agreement between the Contracting Parties with regard to their subject matter. . . .