Kickback

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Kickback

In the context of finance, refers to compensation of dealers by sales finance companies for discounting installment purchase paper.
In the context of contracts, refers to secret payments made to insure that the contract goes to a specific firm.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Kickback

A payment or discount that one may receive in exchange for performing certain services. A kickback may be both legal and proper, or it may be a bribe. This depends on the specific nature of the kickback and the rules surrounding different transactions.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

kickback

An illegal fee or rebate paid to someone in order to gain that person's decision or recommendation for the award of business. Under the Real Estate Settlement and Procedure Act (RESPA), federal law prohibits kickbacks to real estate agents from mortgage companies.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
In March 2014, Pilsner allegedly filed an income tax return with the IRS that did not report his receipt of $411,500 in kickback money during 2013, avoiding approximately $157,648 in federal income taxes.
Upon cross-examination by Estrada's lawyer, Paul Mar Arias, Luy admitted he did not personally see Estrada receive kickbacks but Napoles used to tell him about it.
'He was alleged to have received a huge kickback from contracts including those for strategic empowerment programme, a creation of matchmaking platform for MSMEs development and other enterprises support services.
"A former employee of a US government contractor in Afghanistan pleaded guilty today to accepting over $250,000 in illegal kickbacks from an Afghan subcontractor in return for his assistance in obtaining subcontracts on US government contracts," the release said by Justice Department authorities said.
The post Mokas to seize property of Sapa five to recoup kickbacks appeared first on Cyprus Mail .
Values of this function are calculated using acceleration and velocity data that correspond to normal cutting and to kickbacks and are denoted by [[phi].sub.NC] and [[phi].sub.KB], respectively.
Finance Minister Olga Lavrova asked government members to be cautious with making statements about 10% kickback demanded in the Finance Ministry system at the government meeting on September 19, reports Tazabek.
Global Banking News-June 25, 2014--US could go ahead with lawsuits on alleged insurance kickbacks
Marto, then the liaison for board and donor relations, also happened to be the mother-in-law of a 92Y employee who was fired after reportedly receiving kickbacks from vendors.
A co-owner of a Middlesex industrial company who already admitted to taking part in a kickbacks scheme to get work on two New Jersey Superfund cleanups admitted to later lying to regulators about the extent of the conspiracy, according to the U.S.