1. to negotiate again in order to change the terms of an agreement, contract, or deal

Examples

• The union decided to renegotiate their contract for better wages.
• After the merger, both companies had to renegotiate their supplier agreements.
• The landlord agreed to renegotiate the lease terms.
• We need to renegotiate the payment schedule with our creditors.
• The athlete’s agent will renegotiate his endorsement deal next year.
• The government plans to renegotiate the trade agreement with neighboring countries.