rebate

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Rebate

Discount; diminution of interest on capital lent in consideration of prompt repayment thereof; reduction of a stipulated charge that is not credited in advance but is returned subsequent to payment in full.

A tax rebate is a sum of money refunded to a taxpayer after full payment of the tax has been made.

rebate

1) n. a discount or deduction on sales price. A secret rebate given by a subcontractor to a contractor in return for getting the job is illegal, since it cheats the person hiring the contractor. 2) v. to give a discount or deduction.

rebate

noun allowance, cut, decrease, deduction, diminution, discount, lessening of price, markdown, refund, reimbursement, repayment

rebate

verb allow, allow as a discount, cut, deduct, diminish, discount, give back, lessen, make allowance, mark down, offer a discount, pare, pay back, reduce, reimburse, render, repay, replace, restore, return, slash, strike off, subtract, take off
See also: discount, reduce, refund, reimburse, reimbursement, repay, restitution

REBATE, mer. law. Discount; the abatement of interest in consequence of prompt payment. Merch. Dict. h.t.