Other forms: renegotiated, renegotiating
To renegotiate is to agree new terms for something already agreed. Renegotiate the contract, renegotiate the debt, forced to renegotiate.
Asking to do it is a signal in itself: it says the original bargain no longer works for one side, which weakens their position and strengthens the other's. It is standard in debt, in trade and in employment. Note that the re- means again, and negotiate comes from the Latin for not leisure.
1verbrenegotiateTo agree new terms for something already agreed.
“The union wants to renegotiate the contract because prices have risen so much.”
renegotiate is a re-agreeing.
Latin
negōtiātus
English
negotiate
English, today
renegotiate
Built from
From re- + negotiate. negotiate c. 1598; Latin negōtiātus, perfect active participle of negōtior (“to do business, trade”) (see -ate), from negotium (“business”) + -ō, from nec (“not”) + otium (“leisure, ease, inactivity”).
Etymology from Wiktionary, CC BY-SA