something for something; in some legal contexts, synonymous with consideration. It is sometimes referred to as the Quid and always indicates that which a party receives or is promised in return for something he promises, gives, or does.
In general: from the Latin, meaning "something for something." By mutual agreement, one party provides a good or service for which he or she gets another good or service in return.
Securities industry: arrangement by a firm using institutional research that it will execute all trades based on that research with the firm providing it, instead of directly paying for the research. This is known as paying in soft dollars.
exchange, in insurance, of an adequate consideration (premium paid by an insured) for the promise of an insurance company to pay benefits in the event the insured incurs a loss.
