negotiation
noun
uk/nɪˌɡəʊʃiˈeɪʃən/ us [ C, usually plural or U ]
a formal discussion between people who are trying to reach an agreement:
begin/enter into/be in negotiations (with someone) The board is certainly willing to enter into negotiations to find common ground, he said.
The company is starting a new round of negotiations with its main workforce.
budget/contract negotiations
There was little room for negotiation.
open to negotiation
able to be discussed and changed by people who are trying to reach an agreement:
The terms of the contract are still open to negotiation.
under negotiation
in the process of being discussed by people who are trying to reach an agreement:
The revised contract has been under negotiation for several months.
[ U ] FINANCE, BANKING
the process of changing a cheque into money:
Payment by negotiation can only be used if the draft or cheque is in the local currency of the country on which it is drawn.
a negotiation fee
[ U ] FINANCE
the process of changing the legal owner of a cheque, a bill of exchange, etc.:
The transfer of a cheque by negotiation is a transfer from the holder to another person.