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English definition of “surrender”

surrender

noun [C or U]     /səˈrendər/
the act of giving up something, or giving control of something to someone else: The penalty for early surrender of pensions remains at 25%. The union was forced into a surrender of some recent gains in the latest round of negotiations.
INSURANCE the act of ending an insurance policy early, before its original end date: You will have to pay a fee for the early surrender of your policy.
(Definition of surrender noun from the Cambridge Business English Dictionary © Cambridge University Press)
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