Negotiable

Negotiable means capable of being discussed, bargained, or adjusted. In everyday commerce, items, prices, and terms labeled negotiable invite negotiation between buyer and seller. The term signals flexibility rather than fixed conditions.

Prices and terms are often negotiable in markets for used goods, vehicles, real estate, and services, where buyers and sellers bargain over price, delivery timelines, warranties, and payment options. The degree of negotiability depends on market conditions, supplier policies, and demand.

In law, negotiable has a specialized sense relating to negotiable instruments. A negotiable instrument is a signed writing that promises to pay a definite amount of money and can be transferred to another party by negotiation. It must be unconditional, payable on demand or at a set time, payable to bearer or to order, and free of extraneous undertakings. Common examples include checks, promissory notes, and drafts.

Negotiability also affects liquidity, risk, and transferability in finance and contracts. Negotiable terms can affect deal speed and flexibility, while non-negotiable terms may require formal amendments. Understanding negotiability helps buyers, sellers, and lenders assess certainty, leverage, and obligations.

See also negotiation, contract, price, negotiable instrument.