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TeachMeFinance.com - explain Rebate historic definition... Rebate -- Same as drawback. When part of an amount paid is returned such return is designated a rebate. A rebate on imported goods on which duty has been paid is a repayment, in part or in whole, of the duties on the subsequent exportation of the same goods in their original or in another form. A rebate on freight rates is a repayment, in part, of the rales (or charges). About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.