Remittance
/rɪˈmɪtəns/
Definitions
- (n.) The act of sending money, usually to pay a debt or as a gift.
The remittance was sent to settle the outstanding invoice.
- (n.) The sum of money sent, especially by a migrant worker to family in their home country.
He relies on remittances from abroad to support his family.
Forms
- remittances
Related terms
Commentary
Remittance commonly appears in contexts involving international money transfers and debt settlements; clarity about the source and purpose is important in drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.