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English definition of “surrender”

surrender

verb [T]     /səˈrendər/
to give up something or control over something: Generally , the amount paid by the lessee to surrender the lease will be liable to capital gains tax . Britain may be forced to surrender at least some of its voting power in the IMF .surrender sth to sb He was granted bail , on condition that he surrender his passport to the authorities .
INSURANCE to end an insurance policy early, before its original end date : Policy-holders who need to dispose of their policies can see if they would do better to sell rather than surrender the policy .
FINANCE to lose value : Yesterday on the money markets the euro surrendered its earlier gains against the dollar .
(Definition of surrender verb from the Cambridge Business English Dictionary © Cambridge University Press)
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