quid pro quo

[kwid proh kwoh]
noun, plural quid pro quos, quids pro quo for 2.
1.
(italics) Latin. one thing in return for another.
2.
something that is given or taken in return for something else; substitute.

Origin:
1555–65; Latin quid prō quō literally, something for something; see what, pro1

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World English Dictionary
quid pro quo (ˈkwɪd prəʊ ˈkwəʊ)
 
n , pl quid pro quos
1.  a reciprocal exchange
2.  something given in compensation, esp an advantage or object given in exchange for another
 
[C16: from Latin: something for something]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Etymonline
Word Origin & History

quid pro quo
1565, from L., lit. "something for something, one thing for another."
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
quid pro quo [(kwid proh kwoh)]

A fair exchange; the phrase is most frequently used in diplomacy: “The Chinese may make some concessions on trade, but they will no doubt demand a quid pro quo, so we must be prepared to make concessions too.” From Latin, meaning “something for something.”

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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American Heritage
Idioms & Phrases

quid pro quo

An equal exchange or substitution, as in I think it should be quid pro quoyou mow the lawn and I'll take you to the movies. This Latin expression, meaning "something for something," has been used in English since the late 1500s.

The American Heritage® Dictionary of Idioms by Christine Ammer.
Copyright © 1997. Published by Houghton Mifflin.
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Example sentences
The first piece of the quid pro quo is already in place.
The quid pro quo for funding the system is that they get to indulge their
  feudal fantasies.
The quid pro quo for deposit insurance-itself absolutely necessary, they say,
  to guard against runs-is careful supervision.
It should not be conditional on some sort of amnesty quid pro quo.
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