Reneging on a contract is when one party fails to fulfill their obligations as outlined in the agreement. This could be due to a variety of reasons, such as not having the resources or not being able to meet the terms of the contract. The term 'reneged on a contract' can also refer to a situation where one party has broken the terms of the contract without the other party's consent. The 8-letter word DESIGNED is 'DEIGNED', which means to accept or approve something as suitable or proper.