What remitted meaning?
What remitted meaning?
to transmit or send (money, a check, etc.) to a person or place, usually in payment. to refrain from inflicting or enforcing, as a punishment, sentence, etc. to refrain from exacting, as a payment or service. to pardon or forgive (a sin, offense, etc.). to slacken; abate; relax: to remit watchfulness.
What does remitted payment mean?
A remittance is a payment of money that is transferred to another party. Broadly speaking, any payment of an invoice or a bill can be called a remittance. However, the term is most often used nowadays to describe a sum of money sent by someone working abroad to his or her family back home.
How do you use remit?
Remit means send back, and it has many uses. If you remit payment, you send it back to the person you owe it to. If you’ve been in prison for five years of a seven-year sentence but you’ve been on good behavior, a judge might remit the remainder of your sentence and let you go free.
What is amount remitted?
That’s the amount paid. If it’s amount remitted – that’s usually talking about how much you’ve already paid, like in tax withholding. If it’s amount “to be” remitted, then it’s how much you owe. The key is figuring out if it’s what’s already been paid or what needs to be paid.
What does remitted mean in banking?
Follow. Remittance is derived from the word ‘remit’ which means ‘to send back’. Remittance refers to money that is sent or transferred to another party, usually overseas. Remittances can be sent via a wire transfer, electronic payment system, mail, draft, or cheque.
What is the difference between remittance and payment?
The difference between a remittance and a payment is, in most cases, a matter of whether money is travelling overseas. The word, “remittance”, comes from the verb, “to remit”, or to send back. So, whilst all remittances are payments, not all payments are necessarily remittances.
What does date remitted mean?
Remittance Date means the fifteenth (15th) calendar day of each month, or the immediately succeeding Business Day, if such calendar day shall not be a Business Day, or such other day as is mutually agreed to by Seller and Buyer.
