Outrageously Funny Word Dictionary :: Recancellation

👉 In finance, "recancellation" refers to a situation where a party is unable to perform their obligations or fulfill their commitments due to unforeseen circumstances beyond their control. This can include natural disasters such as floods, earthquakes, or hurricanes, or political instability that prevents communication between parties involved in the transaction. In this case, the non-performing party may seek to cancel or renegotiate the contract terms with the other party.

recancellation