Is A Rebate And Discount The Same?

What is a rebate example?

The definition of a rebate is a discount given to a customer at the time of purchase, or money sent to a customer after they’ve paid the full price.

An example of a rebate is a 10% discount on a cell phone at the time of purchase..

What is the difference between rebate and refund?

Refund is the full amount you get of what you paid. On the other hand, rebate is not the full amount but somewhat lesser than what you paid. That’s because you paid too much. For example, if you, for some reason, return the goods (worth $100) to the seller as it is, you get $100 back.

What does rebate payment mean?

Return of a portion of a purchase price by a seller to a buyer, usually on purchase of a specified quantity, or value, of goods within a specified period. Unlike discount (which is deducted in advance of payment), rebate is given after the payment of full invoice amount. See also refund.

What is another word for rebate?

What is another word for rebate?discountrefundreparationindemnificationremunerationsatisfactionrecompenserestitutionpaymentredress19 more rows

What is a volume rebate?

In volume rebate agreements, rebates are earned when volume based turnover targets have been reached. This means that spend has surpassed a certain volume of product units. For example, a volume rebate deal could have incentive targets of: 5,000 units.