Source : WordNet®

renegotiate
     v 1: negociate anew; "The two warring parties will have to
          renegociate" [syn: {renegociate}]
     2: revise the terms of in order to limit or regain excess
        profits gained by the contractor; "We renegociated our old
        mortgage now that the interest rates have come down" [syn:
         {renegociate}]