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Glossary

Rebate

A deduction taken from a set payment or charge. As a rebate is given after payment of the full amount has been made, it differs from a discount which is deducted in advance of the payment. In foreign trade, a full or partial rebate may be given on import duties paid on goods which are later re-exported.

USA: An illegal form of discounting or refunding that has the net effect of lowering the tariff price.

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