A kickback is an official's share of misappropriated funds allocated from his or her organization to an organization involved in corrupt bidding. For example, suppose that a politician is in charge of choosing how to spend some public funds. He can give a contract to a company that is not the best bidder, or allocate more than they deserve. In this case, the company benefits, and in exchange for betraying the public, the official receives a kickback payment, which is a portion of the sum the company received. This sum itself may be all or a portion of the difference between the actual (inflated) payment to the company and the (lower) market-based price that would have been paid had the bidding been competitive.
A kickback is an official 's share of misappropriated funds allocated from his or her organization to an organization involved in corrupt bidding . For example , suppose that a politician is in charge of choosing how to spend some public funds . He can give a contract to a company that is not the best bidder , or allocate more than they deserve . In this case , the company benefits , and in exchange for betraying the public , the official receives a kickback payment , which is a portion of the sum the company received . This sum itself may be all or a portion of the difference between the actual ( inflated ) payment to the company and the ( lower ) market - based price that would have been paid had the bidding been competitive .
What is the public official's share called when involved in corrupt bidding?
What is the public official 's share called when involved in corrupt bidding ?
kickback
kickback