Rebate – in the area of Commercial Law, this is a particular discount on the sale price offered to the public. For example, if jeans cost 30 dollars, the seller could offer a 5 dollar discount. There are different methods for a rebate. These depend on the concrete market and jurisdiction. Discounts could be connected with future purchases at the same store. Or to apply only once the trader receives the full price. For example, you pay the seller 30 dollars for buying something from them. And after a week he returns 5 dollars back to your account.
Synonyms are “sale discount” and “refund”.
In the Conveyance procedures, namely in cases where the property buyer does not acquire the title due to a fault of the seller/vendor to deliver it in the agreed terms and conditions, then the buyer is entitled (depending on the local jurisdictions) to ask for a refund of the purchase price if already paid. In the practice, it occurs in situations where the buyer makes an off-plan real estate purchase and pays several installments as the building goes on, but the developer fails at the end of the day to deliver a completed real estate. The refund is either given voluntarily by the seller or to be achieved via court decision in favor of the buyer. Synonyms are “refund” and “reimbursement”.
Example: “All local shoe stores are giving five dollar rebate during Christmas holidays.”
