noun
- the process of discussing and changing the terms of an existing agreement or contract
Examples
- The union called for renegotiation of the salary terms.
- After the merger, renegotiation of supplier contracts was necessary.
- The renegotiation process took several months to complete.
- Both parties agreed to enter renegotiation talks next week.
- The lease renegotiation resulted in lower monthly payments.
- Trade renegotiation between the countries began last year.