Definition of rebates:
(n) :
A deduction from an amount that is paid; an abatement.
(n) :
The return of part of an amount already paid.
(v) :
(transitive) To deduct or return an amount from a bill or payment
(v) :
(transitive) To diminish or lessen something
(v) :
(transitive) To cut a rebate (or rabbet) in something
(v) :
To abate; to withdraw.