renewal

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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 ?
Four lines of insurance ended 2017 with slightly higher premium renewal rates, according to Q4 data released recently by IVANS, a division of Applied Systems.
IVANS, a division of Applied Systems, today announced the results of 2017s year-end IVANS Index, the insurance industrys premium renewal rate index.
Pursuant to Administrative Order 2012-4, effective January 26, all members of the Bar of the USDC-SDFL, were required to pay a renewal fee of $25 on or before March 15, 2012, and every other year thereafter.
3 ( ANI ): The Telecom Regulatory Authority of India (TRAI) today issued guidelines on renewal of Special Tariff Vouchers (STVs) pertaining to data and SMS packs offered to consumers by service providers, for protecting the interest of consumers.
Renewals are worth the time and effort to optimize them.
This is a renewal credential only, not an initial certification category.
Irrespective of industry, just over half of the franchise systems that offer renewals require remodeling to be done on the unit during the process.
It will be one of the latest renewals we've ever bad," Gaserow said.
This is the same for renewals or new members; your first check or credit card payment is applied when you send your renewal or application (one-half of total dues plus a one-time $5 service charge and a one-time $10 insurance charge).
IF A CONTRACT IS SILENT ON RENEWAL POSSIBILITIES, CPAs should consider the company's history on this or similar contracts.
Renewals accounted for 14 of the top 25 largest leasing transactions in 2003, up from 11 in 2002.
Internet renewal requires much the same processing as paper renewals (ie, evaluation of CE activities) and may take up to 5 business days to be completed.