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"rescind" is a valid word that is used in written English
It means to revoke or annul and can be used when a contract or agreement is reversed or cancelled. For example: "The company decided to rescind the agreement due to a violation of the terms."
Dictionary
to rescind
verb
To repeal, annul, or declare void; to take (something such as a rule or contract) out of effect.
Exact(58)
(Chiarelli refused to rescind the reprimand).
Several are threatening to rescind their contributions.
One is to rescind these rules administratively.
Trump has pledged to rescind those orders.
It's time for Congress to rescind mandatory minimum sentences.
Finally, the group was forced to rescind its offer.
A viral outcry forced him, within hours, to rescind.
But McCain similarly declined to rescind his endorsement of Trump.
An ongoing campaign, via Avaaz.org, seeks to rescind the medals.
The Senate voted to rescind the Mexico City policy.
This was often reported as "called to rescind his concession".
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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