mostely brokers, intermediaries use this commission ok understandable but what is kickback
2007-09-27 17:43:17 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
I'm in sales. If I sell you a product or service, I earn a commission on the sale.
Kickbacks are unethical. Say I'm in a position to influence the purchase of a product or service. If I choose that product, or cause it to be purchased, and the seller rewards me for doing so, that's a kickback and conflict of interest, as I'm not acting in the best interests of the purchasing organization.
2007-09-27 17:50:00 · answer #1 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
Meaning Of Kickbacks
2016-12-17 07:40:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
a kickback is where you give a person without a broker's license a percentage of the commission in return for giving the broker the business.
It is an violation in investments, real estate & insurance. Punshiable by fines, suspension, or revoking of the license
2007-09-27 17:49:10 · answer #3 · answered by greybeads 3 · 0⤊ 0⤋
“Kickback” means any money, fee, commission, credit, gift, gratuity, thing of value, or compensation of any kind which is provided, directly or indirectly, to someone for the purpose of improperly obtaining or rewarding favorable treatment in connection with a sales or contract.
“Person” means a corporation, partnership, business association of any kind, trust, joint-stock company, or individual.
IT'S HIGHLY ILLEGAL TO RECEIVE KICK BACK
2007-09-27 17:51:59 · answer #4 · answered by Roohan Selvan 6 · 0⤊ 0⤋
Commission is legal if its coming from your employer who pays you after you had close and delivered what you sold and after they had got the payment from your client.
But most people will perceive
kickback = corruption.
2007-09-30 19:48:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
when you work for a percentage of the sale . like if you go to frys electronic and buy a $1500 pc the salesman is working on a commision and gets x% of his sales or a kickback
2007-09-27 17:52:27 · answer #6 · answered by fishshogun 5 · 0⤊ 0⤋