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The phrase "alter the terms" is correct and usable in written English.
It can be used when discussing changes to agreements, conditions, or stipulations in various contexts, such as contracts or negotiations.
Example: "The company decided to alter the terms of the agreement to better suit both parties."
Alternatives: "modify the conditions" or "change the stipulations."
Exact(46)
We are deeply reluctant to alter the terms of Our long-established covenant with Our Creation.
"Because the addition of a restriction based on delinquent payments would alter the terms of these bylaws, a bylaw amendment would be necessary," Mr. Sladkus said.
To suggest that my employer now has the right to alter the terms under which I worked, say, in 1980, turns contract law on its head.
Federal District Judge J. Frederick Motz ought to push the software company and the plaintiffs' lawyers in these cases to substantially alter the terms of the settlement.
Tyson executives could pressure the company to alter the terms of the agreement because of the findings -- or they might just walk away.
Although Jackson's victory came too late to alter the terms of the peace, it succeeded in altering the memory of the war.
Similar(8)
Mr. Bloomberg's role takes on an added complexity because of his decision to alter the term limits law and seek a third term.
Then there is the question of whether any proposal to alter the term limits law would make it to the floor of the Council.
Still, some candidates say they will run even if the City Council decides to alter the term limits law, which was approved in two public referendums.
One aide drew an analogy to Mr. Miller's successful efforts to alter the term limits law, which gave him two extra years in office.
From Mayor Michael R. Bloomberg, Mr. Obama can absorb how to fiddle with the rules, as the mayor did in leaning on the City Council to alter the term-limits law to give him a shot at a third term.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com