In negotiations it's the very last word (9)
I believe the answer is:
ultimatum
'last word' is the definition.
(thesaurus)
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for ultimatum that I've seen before include "Final offer" , "Final demand or statement of terms" , "Final warning" , "Final proposition or demand" , "Final (peremptory) demand" .)