negotiation ne‧go‧ti‧a‧tion [nɪˌgəʊʆiˈeɪʆn ǁ -ˌgoʊ-] noun [countable usually plural, uncountable]
official discussions between groups who are trying to reach an agreement:
• The company entered into negotiations for the purchase of a site just outside the town.
• The terms of the contract are still open to negotiation (= can be discussed and changed ) .
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negotiation UK US /nɪˌgəʊʃiˈeɪʃən/ noun
► [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.
► [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.
Financial and business terms. 2012.