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Verb: renegotiate  ,ree-ni'gow-shee,eyt
  1. Negotiate anew
    "The two warring parties will have to renegotiate"
     
  2. (contract) revise the terms of in order to limit or regain excess profits gained by the contractor
    "We renegotiated our old mortgage now that the interest rates have come down"

Derived forms: renegotiating, renegotiates, renegotiated

Type of: negotiate, talk terms