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You can decide to not work with a brand after they send over the collaboration terms, but you cannot cancel a proposal or have it re-set the number of campaigns you've applied to. You're more than welcome to move it to your Trash, but it will not reset your proposal limit.
If you need to negotiate further, you can send a follow up message to the brand's campaign manager via your Opportunities section on the platform.
If you have any questions, please don't hesitate to contact our Creator Support Team at [email protected].