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renegotiate
(redirected from renegotiated)

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renegotiate

An agreement to revise the terms of a contract.Promissory notes,mortgages,leases, and other contracts can typically be renegotiated if failure to do so will result in default and that default would be economically disadvantageous to the other party. This power to renegotiate is exemplified by the old saying referring to loans from small banks,“If you owe the bank $10,000, they own you. If you owe the bank $1,000,000, you own them.” A debtor in bankruptcy can force renegotiation of onerous contract terms,such as a long-term lease at above-market rental rates.



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Many going through a divorce aren't aware that financial settlements may be renegotiated if the value of the items change, therefore it is vital to seek professional advice to ensure you and your assets are protected.
The packages that are being renegotiated on the joint-venture refinery project with Total are related to distillation and hydro-treating,conversion, sulfur, aromatics,coker unit and plant utilities,the contractors said.
Byline: BAGHDAD: (Image: ) Iraq expects to gross $55 billion in a new 20-year oil deal it recently renegotiated with China, the government said.
 
 
 
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