surrender
/səˈrendər/ verb [T]Definition
› 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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