A Notice of Rejection Counterproposalal is a document that is sent from one party to the other when an initial offer, proposal, or contract has been rejected. It is a way for the rejecting party to provide a counteroffer, or their own terms and conditions, in order to potentially reach an agreement. There are two types of Notice of Rejection Counterproposalal. The first is a unilateral counterproposal, which is initiated by only one party and is not open to negotiation. The second type is a bilateral counterproposal, which is initiated by both parties and is open to negotiation. A Notice of Rejection Counterproposalal outlines the terms of the counter offer, including any changes to the original offer, such as reduced pricing, different payment terms, or other modifications. If the counter offer is accepted, the Notice of Rejection Counterproposalal will serve as a legally binding document.