renegotiateverb [ I or T ]
uk/ˌriːnəˈɡəʊʃieɪt/usto discuss an agreement again in order to change it:
The bank did not want to renegotiate the terms of the loan.
renegotiation
noun [ C or U ]
He will be in a powerful position regarding a renegotiation of his contract, which expires in June.