Renegotiate (Verb)
Meaning 1
Revise the terms of in order to limit or regain excess profits gained by the contractor; "We renegociated our old mortgage now that the interest rates have come down".
Classification
Verbs of telling, asking, ordering, singing.
Examples
- The city council decided to renegotiate the contract with the construction company due to the recent discovery of overcharges.
- To avoid a potential lawsuit, the corporation agreed to renegotiate the payment terms with the supplier.
- After reviewing the original agreement, the company elected to renegotiate the lease, taking advantage of the current more favorable market conditions.
- We just renegotiated our old mortgage now that the interest rates have come down and are saving hundreds of dollars each month.
- As part of their contract reform, the union sought to renegotiate the outsourcing deal with a third-party logistics provider.
Synonyms
Hypernyms
Hyponyms
Meaning 2
Negociate anew; "The two warring parties will have to renegociate".
Classification
Verbs of telling, asking, ordering, singing.
Examples
- They need to renegotiate the terms of the contract to make it more favorable for both parties.
- We cannot cancel the contract but we can renegotiate certain clauses to resolve our issues.
- The union representatives will have to renegotiate with management to secure better wages and benefits.
- The country has threatened to renegotiate its trade agreements if the new terms aren't met.
- The parties involved in the lawsuit decided to renegotiate a settlement outside of court.