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- In business, to remit means to send a payment to a person or place12. A remittance refers to a specific payment that is made to satisfy a particular demand3. For example, the British parent company of a multinational group may need to remit profits from its foreign subsidiaries to Britain, so that it has enough money to pay its own dividends1. Remittance can also refer to the act of freeing someone from a debt or punishment2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.to send money to someone, especially as a payment for something: remit sth to sb/sth The British parent company of a multinational group may need to remit profits from its foreign subsidiaries to Britain, so that it has enough money to pay its own dividends.dictionary.cambridge.org/us/dictionary/english/remit
From Longman Business Dictionary re‧mit1 /rɪˈmɪt/ verb (remitted, remitting) [ transitive] British English formal 1 to send a payment to a person or place a ban preventing companies from remitting profits, dividends or capital abroad remit something to somebody/something Our overseas branches remit a small proportion of their profits to the parent company. 2 to send a legal case from a high court to a court that deals with less...
www.ldoceonline.com/dictionary/remitA remittance refers to a specific payment that is made to satisfy a particular demand. Usually, a remittance accompanies a specific order made to a business.www.northone.com/blog/accounting/what-is-remitta… - People also ask
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WEBMar 5, 2024 · Fact checked by. Betsy Petrick. What Is a Remittance? A remittance is money that is sent from one party to another. Broadly speaking, any payment of an invoice or a bill can be...
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