REBATE Definition

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REBATE is a. payment to a customer upon completion of a purchase as an inducement or sales promotion tactic; b. unearned interest refunded to borrower if the loan is paid off prior to maturity; c. amount paid back or credit allowed because of an over-collection or the return of an object sold (i.e., a refund).

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GROSS REVENUE is income (at invoice values) received for goods and services over some given period of time. See also GROSS SALES.

LEASEHOLD is an agreement between the lessee and lessor specifying the lessees rights to use the leased property for a specific purpose and given time at a specified rental payment.

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