renewal


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Related to renewal: urban renewal

Renewal

Rehabilitation; reestablishment; substitution of a new right or obligation for another of the same or similar nature.

In regard to bonds, renewal signifies an extension of time for maturity. A stipulation for the renewal of a lease requires the making of a new lease, as opposed to an extension, which involves adding time to a leasehold agreement already in existence without executing a new instrument.

renewal

n. keeping an existing arrangement in force for an additional period of time, such as a lease, a promissory note, insurance policy or any other contract. Renewal usually requires a writing or some action which evidences the new term.

renewal

noun amelioration, comeback, enhancement, fixing, improvement, instauration, making over, melioration, mending, modernization, new start, readjustment, reanimation, rearrangement, rebirth, recharging, reclamation, recommencement, reconstruction, recrudescence, recrudescency, reestablishment, reformation, refreshment, regeneration, rehabilitation, reinstatement, reissue, rejuvenation, relapse, renaissance, renascence, renovatio, renovation, reopening, repair, repetition, replenishment, reproduction, restoration, resurrection, resuscitation, return, revamping, revision, revival, revivification, salvage
Associated concepts: motion to renew, renewal of a claim, renewal of a license, renewal of a motion
See also: continuation, recrudescence, reform, rehabilitation, repair, reparation, replacement, resumption, resurgence, revival

RENEWAL. A change of something old for for something new; as, the renewal of a note; the renewal of a lease. See Novation, and 1 Bouv. Inst. n. 800.

References in periodicals archive ?
Notably, across all lines of business, December was consistently one of the greatest premium renewal rate change months for the year," researchers said in a press release about the 2017 Q4 results.
Workers Compensation: Average premium renewal rate change reached a year low at -2.
It is your responsibility to ensure that the renewal is completed.
Renewal may also be completed using PDF forms available on the website.
Renewal area funds are regularly transferred to the city's sewer fund without regard to the plan's requirement to apportion the funds.
After a 30-day grace period, which was April 18, 2012, all 2012 renewals will be assessed a $50 late fee ($75 total).
The service providers had submitted to TRAI that, in some cases, the offer for the STV provides for renewal and such renewal may be beneficial to consumers who may want to use such vouchers continuously.
When the club began sending the renewal notice shortly after the member returned from the vacation, renewal rates soared, he said.
If you work exclusively or primarily in the remote ICU environment: You may renew as a CCRN-E at your next renewal cycle, provided you meet renewal requirements for CCRN-E.
At the end of this time period, a franchisee may choose to apply for renewal of the agreement and, if agreed upon, continue operating the unit.
This renewal spread rapidly throughout North America, the Caribbean and especially through South America.