Techniques to cause a point-to-point link between system components to engage in a negotiation process that may lead to the link transitioning from an active state in which data may be transmitted between system components to a low power state where data may not be transmitted. The negotiation process may occur between each pair of nodes within an electronic system that are interconnected via point-to-point link. The negotiation may ensure that there are no pending transactions or transactions that may occur within an upcoming period of time. Through this negotiation each component acknowledges and agrees to transition the link to the low power state.