What Is A Kickback In Business

A kickback is a form of negotiated bribery in which a commission is paid to the bribe-taker in exchange for services rendered.

What is a kickback in business. Kickbacks are payment or offering of services with the intent to influence or gain something from a company or a person. An amount of money that is given to someone in return for providing help in a secret and dishonest business deal See the full definition for kickback in the English Language Learners Dictionary. A kickback can mean a bribe payoff or backhander.

We consider kickbacks in the form of cash credit or gifts as corrupt practices. The safe harbor regulations in the Anti-Kickback Statute focus on payments and business activities identified as lawful inducement of payments by Medicare or Medicaid programs. For example a building contractor might give a portion of what he or she is paid to a government official who approved the building plans for the project.

English Language Learners Definition of kickback. A kickback is an illegal commission paid to someone in exchange for preferential treatment. Generally speaking money goods or services handed over are negotiated ahead of time.

Kickbacks are often referred to as a type of bribery. A kickback is a method of bribery in which something of value is exchanged for a favorable decision. As a general rule safe harbor regulations set protection between financial and business relations and referring parties conducted at fair market view.

How does a Kickback work. A kickback favors the individual receiving the commission usually at the expense of the persons employer. Kickbacks may be less fancifully termed as bribes.

The word can also mean a strong reaction ie a sudden forceful recoil. They are often associated with white-collar type crimes and can occur in numerous work sectors or in politics. A kickback can take many forms all of which are illegal.