Kickback - Definition

A return of a percentage of a sum of money already received, typically as a result of pressure, coercion, or a secret agreement. It is also defined as a commercial bribe paid by a seller to a purchasing Agent in Order to induce the agent to enter into the Transaction. In politics, kickbacks might be used to secure influence over voting by offering services.

Perhaps the most famous of these are kickbacks for government officials who issue permits in exchange for profits or upfront payments. In these cases, permits issued are usually done so without legal right existing for such a permit. For example, a housing inspector might issue an illegal building permit in exchange for a bribe.

In other businesses, kickbacks might be offered to companies who agree to recommend a certain business. For example, a bank recommending a particular Mortgage Broker, and receiving an under the table fee for such is a kickback. A travel agent who gets rewarded for booking at a particular hotel is also a form of kickback.



Terms near "Kickback"

Kicker
Kiddie Tax
Kijun line
Kitchen sink bond
Kiwi
Kiwi bond
KMF
Knock for knock
Knock In
Knock Out
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