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Definition: Non-Negotiable

It refers to when something or someone is not open to or for negotiation. The value or the deal is fixed and there would be no further concession or room for maneuvering about it. Such as a share or a deed which cannot be transferred from one person to another. When the price is non-negotiable, it means discussions about price are not welcome.

An example of non-negotiable instrument would be a government savings bond. The rate provided by the government, the price and the maturity period is fixed.

Similarly, an insurance contract is non-negotiable and would the person will have to be provided a lump sum by the insurer in case any untoward event occurs.


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