The Art (and Power) of the Handshake

A majority of the initial work I did in Norway consisted of fundraising capital: an incredibly difficult task in the country. Norwegians, despite their considerable wealth, are not overly eager to part with it, especially to a foreigner like myself.

Closing a Deal

Once, after a successful meeting I had done the impossible. I got a Norwegian to part with some of their money to support my project. We shook hands over it parted our separate ways.

I quickly, and somewhat frantically turned to my Norwegian colleague and said:

"We should get him a contract to sign ASAP to confirm his investment. Before he changes his mind!"

That's when she told me to relax. She further went on to say that we didn't need to worry. He shook on the deal and gave his word, something of significantly more importance in Norway than perhaps other business cultures.

Oral Agreements are Binding

It was incredibly interesting to learn that an oral agreement can be legally binding in Norway. And most Norwegians believe this to be true, so they dare not violate it and risk a courtroom showdown.

Norwegians however aren't eager to violate or even bend any potential law. So when they give you their word you can almost always believe it to be true.