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Definition of 'Rebate'

A rebate is a partial refund of the purchase price of a product or service. It is typically offered as an incentive to encourage customers to buy a product or service, or to reward them for their loyalty.

Rebates can be offered by manufacturers, retailers, or service providers. They can be offered on a one-time basis or as part of a regular promotional program.

Rebates are often offered on products that are new to the market or that are in high demand. They can also be offered on products that are seasonal or that are being discontinued.

Rebates can be redeemed in a variety of ways. They can be redeemed online, by mail, or in person at a store.

Rebates can be a great way to save money on purchases. However, it is important to read the fine print before redeeming a rebate to make sure that you understand the terms and conditions.

Here are some tips for getting the most out of rebates:

* **Do your research.** Before you buy a product, make sure that there is a rebate available. You can do this by checking the manufacturer's website or by looking for rebate offers in the newspaper or online.
* **Read the fine print.** Make sure that you understand the terms and conditions of the rebate before you redeem it. Find out how much you need to spend to qualify for the rebate, how long you have to redeem it, and how you will receive your refund.
* **Keep your receipts.** You will need to keep your receipts in order to redeem a rebate. Make sure that you keep them in a safe place so that you don't lose them.
* **Be patient.** Rebates can take a few weeks or even months to process. Be patient and don't give up if you don't receive your refund right away.

Rebates can be a great way to save money on purchases. By following these tips, you can get the most out of rebates and save even more money.

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