renegotiation

[riːnɪˌɡəʊʃɪˈeɪʃ(ə)n]

renegotiation Definition

• 1. the act of discussing an agreement again in order to change it
• 2. the process of changing the terms of a contract or agreement

Using renegotiation: Examples

Take a moment to familiarize yourself with how "renegotiation" can be used in various situations through the following examples!

• Example

  The union is calling for the renegotiation of the contract.

• Example

  The company is seeking a renegotiation of the terms of the agreement.

• Example

  The two parties are in the middle of a renegotiation process.

renegotiation Synonyms and Antonyms

Synonyms for renegotiation

• reconsideration
• revision
• modification
• alteration

Phrases with renegotiation

• renegotiation clause

  a provision in a contract that allows for the terms of the agreement to be changed at a later date

  Example

  The contract includes a renegotiation clause that will allow us to adjust the terms if necessary.

• renegotiation of debt

  the process of changing the terms of a loan or other financial obligation in order to make it more manageable for the borrower

  Example

  The bank agreed to a renegotiation of the debt, which allowed the company to avoid bankruptcy.

• renegotiation of NAFTA

  the process of revising the North American Free Trade Agreement between Canada, Mexico, and the United States

  Example

  The renegotiation of NAFTA was a major campaign promise for President Trump.

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Summary: renegotiation in Brief

Renegotiation [riːnɪˌɡəʊʃɪˈeɪʃ(ə)n] refers to the act of discussing an agreement again in order to change it. It is often used in the context of contracts or agreements, such as 'The union is calling for the renegotiation of the contract.' Renegotiation can also refer to the process of changing the terms of a loan or other financial obligation, as in 'The bank agreed to a renegotiation of the debt.'