renegotiate vt: to negotiate again (as for more money or to adjust interest rates or repayments)
: to determine under statutory procedure the existence and amount of excess profits on (a government contract) in order to eliminate or obtain a refund of such profits
: to negotiate again
: to adjust a government project price in order to eliminate or recover excessive profits
re·ne·go·ti·a·tion [-ni-gō-shē-ā-shən, -gō-sē-]
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.