renegotiation

Vocabulary Word

Definition

'Renegotiation' is when you discuss the terms of an existing agreement or contract, with the aim of changing them. It's often done when circumstances change, such as having more or less money or time.

Examples in Different Contexts

In international treaties, 'renegotiation' can be vital. A diplomat might declare, 'The renegotiation of treaties is often pivotal for addressing new challenges, resolving disputes, and fostering international cooperation and peace.'

Practice Scenarios

Public-Policy

Scenario:

The recent changes in legislation could affect our trade deal. We need to analyze these changes closely.

Response:

I concur. We should push for a renegotiation of the trade agreement in light of these legislative changes.

Creative

Scenario:

The client now wants us to include extra scenes in the video. This will certainly need us to revisit our original plan.

Response:

Definitely, we should propose a renegotiation of our agreement to account for the additional work.