kickback

play

noun kick·back \ ˈkik-ˌbak \

Updated on: 26 Jul 2017

Definition of kickback

1 :a return of a part of a sum received often because of confidential agreement or coercion

every city contract had been let with a ten percent kickback to city officials
—D. K. Shipler

2 :a sharp violent reaction

See kickback defined for English-language learners

See kickback defined for kids

Examples of kickback in a Sentence

Several company executives were accused of accepting kickbacks.

Recent Examples of kickback from the Web

Aldemir Bendine allegedly received more than $950,000 in bribes from Odebrecht, which is at the center of a massive kickback scheme that prosecutors say inflated contracts at Petrobras and other state companies.

— Washington Post, "World Digest: Aug. 22, 2017," 22 Aug. 2017
The pleas are the second day of public salvos in the FBI’s unraveling of a far-reaching scheme to defraud public benefits programs with a kickback scheme involving an out of state compounding pharmacy between January 2015 and April 2016.

— amy s. rosenberg, Philly.com, "Two more S. Jersey drug reps plead guilty in Shore Rx scheme," 18 Aug. 2017
Ganim was a five-term Bridgeport mayor when he was convicted in 2003 of participation in a bribery and kickback scheme.

— gregory b. hladky, courant.com, "Ganim Filing Suit To Gain Public Funding For Gubernatorial Run," 1 Aug. 2017
In the prior state corruption case, investigators with the Miami-Dade state attorney’s office and county ethics commission questioned Brown on two occasions in 2006 as a witness in their probe of the government kickback scheme.

— jay weaver, miamiherald, "New Opa-locka boss says he wasn’t a witness in kickback case. Records say otherwise.," 26 July 2017
A former vice-governor of the region has been charged with taking a $351,000 kickback to award the stadium’s lighting contract.

— The Economist, "Extra time and punishmentThe cost overruns on Russia’s World Cup stadiums are staggering," 20 July 2017
In exchange, the two defendants are accused of paying kickbacks to patients, including gift cards, free airline travel, trips to casinos and strip clubs, along with drugs, the complaint said.

— jay weaver, miamiherald, "Once again, South Florida top target in massive nationwide Medicare fraud bust," 13 July 2017
Whoever owns the last control marker placed on each section is awarded kickbacks when henchmen shake down businesses in their area.

— charlie theel, Ars Technica, "The Godfather: Corleone’s Empire," 8 July 2017
Liakos is accused of arranging to get more than $33,000 in kickbacks, as well as repairs at her house, in exchange for giving builders contracts on city projects at inflated prices, police said.

— lisa j. huriash, Sun-Sentinel.com, "Police arrest ex-Margate employee accused of kickback scheme," 5 July 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'kickback.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of kickback

1920

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

kick back

verb

Definition of kick back

intransitive verb

:to assume a relaxed position or attitude; also :to spend time relaxing :take it easy

spent the weekend just kicking back

See kick back defined for kids

Examples of kick back in a Sentence

I plan to spend the day kicking back and watching television.
a good resort for people who want to kick back and watch others exercise strenuously

First Known Use of kick back

1972

kick back Synonyms

Synonyms

bask, rest, loll, lounge, relax, repose

Related Words

bum, goldbrick, hang, hang about [British], hang around, idle, loaf, slack (off), veg out

Near Antonyms

drudge, grub, hump, hustle, labor, moil, peg (away), plod, plow, plug, slave, slog, strain, strive, struggle, sweat, toil, travail, work; exercise, work out

Financial Definition of KICKBACK

kickback

noun

What It Is

A kickback is a method of bribery in which something of value is exchanged for a favorable decision.

How It Works

A kickback can take many forms, all of which are illegal. 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. Or, a biomedical company might offer training, travel, or other benefits to doctors who recommend theev product to patients. Another example would be a financial institution that provides cash or bonuses to mortgage brokers who convince borrowers to select their services over another provider.

Why It Matters

There are a number of specific laws prohibiting kickbacks. For example, a payment to a US government official may trigger a fine of three times of value of the kickback and a prison sentence of up to 15 years. Bank kickbacks are prohibited under the Bank Bribery Amendments Act of 1985, which, in addition to the monetary fine, can also imprison offenders for up to 30 years. The Anti-Kickback Act of 1986 specifically prohibits government contractors from kickback schemes, and subjects violators to both civic and criminal charges.

Companies should steer clear of giving any special direct or indirect favors or making payments including finder's fees, gifts, and special payments to family or friends of a banker or government official. Such actions may be perceived as kickbacks and subject to penalties/punishment.

Source: Investing Answers