/ ˈriːbeɪt; NAmE / noun
1.
an amount of money that is paid back to you because you have paid too much :
a tax rebate
2.
an amount of money that is taken away from the cost of sth, before you pay for it
SYN discount :
Buyers are offered a cash rebate.
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WORD ORIGIN
late Middle English (as a verb in the sense diminish (a sum or amount) ): from Anglo-Norman French rebatre beat back, also deduct.