A system for bandwidth management and codec negotiation, according to one embodiment of the present invention comprises: a configuration storage module having supported codecs storage, codec lists and preferred site settings storage, and a call manager having an extension module, a trunk module, a location service engine, a codec manager, a bandwidth manager, and a media manager. The codec manager and the bandwidth manager used for negotiating a codec for a call between two endpoints. The present invention also includes a number of methods including a method for negotiating a codec for a call, a method for managing bandwidth for a call, a method for adding a description of a new codec supported by an endpoint, a method for adding an identifier of a supported codec to a codec list and a method for editing code site codec settings.