Meaning of renegotiate

re•ne•go•ti•ate

Pronunciation: (rē"ni-gō'shē-āt"), [key]
— v., -at•ed, -at•ing.
—v.t.
  1. to negotiate again, as a loan, treaty, etc.
  2. to reexamine (a government contract) with a view to eliminating or modifying those provisions found to represent excessive profits to the contractor.
—v.i.
  1. to negotiate anew.
  2. to reexamine the costs and profits involved in a government contract for adjustment purposes.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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