Final answer:
A rebate is a partial refund or discount given to a customer after they have purchased a product or service. The customer receives the rebate after fulfilling certain conditions, such as submitting a proof of purchase or completing a rebate form.
Step-by-step explanation:
A rebate is a partial refund or discount given to a customer after they have purchased a product or service. It is usually provided by the manufacturer or retailer as a way to incentivize customers to buy their products. The customer receives the rebate after fulfilling certain conditions, such as submitting a proof of purchase or completing a rebate form. For example, let's say you purchase a laptop that has a $100 rebate. To receive the rebate, you may need to mail in a copy of your receipt and the rebate form to the manufacturer. Once the manufacturer verifies your purchase, they will send you a check or provide a credit towards your future purchases. Customers typically receive rebates within a few weeks or months of submitting the necessary documents. The exact timeline may vary depending on the manufacturer or retailer.