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re•bate

Pronunciation: (
—n.rē'bāt;
—v.rē'bāt, ri-bāt'), [key]
—n., v., -bat•ed, -bat•ing.

—n.
a return of part of the original payment for some service or merchandise; partial refund.

—v.t.
1. to allow as a discount.
2. to deduct (a certain amount), as from a total.
3. to return (part of an original payment): He rebated five dollars to me.
4. to provide a rebate for (merchandise) after purchase: The manufacturer is rebating this air conditioner.
5. to blunt (an edged or pointed weapon).
6. to cover the edge or point of (an edged or pointed weapon) in order to make it incapable of cutting or piercing.

—v.i.
to allow rebates, esp. as the policy or practice of a company, store, etc.