Kickback (Noun)
Meaning
A commercial bribe paid by a seller to a purchasing agent in order to induce the agent to enter into the transaction.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The corrupt purchasing agent demanded a 10% kickback from the seller before approving the contract.
- The company was fined heavily for offering a kickback to a government official to secure a lucrative contract.
- The executive was fired after it was discovered that he had been accepting kickbacks from suppliers for years.
- The investigation revealed a complex web of kickbacks and bribes involving several high-ranking officials and contractors.
- The kickback scheme was cleverly disguised as a legitimate consulting fee, but eventually the authorities caught on.