Clawback
/ˈklɔːbæk/
Definition 1 of 2
Pro Tip 1/3Financial Corrections
Clawback often involves correcting financial overpayments or errors.
The pension fund executed a clawback to correct overpaid benefits.
Pro Tip 2/3Government Actions
A government uses clawback to reclaim funds from tax incentives when conditions aren't met.
After the factory closed, a tax clawback was issued to the company.
Pro Tip 3/3Legal Complications
Clawbacks can lead to legal disputes over the legitimacy of reclaiming funds.
The clawback provision in the contract led to a court case.
Compare with
ReclamationRecoveryRecuperateRestitution
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