Remittance

Back to Shipping Glossary

The transfer of funds from one party to another.

What is Remittance?

Remittances are payments made to another party. Remittances can be broadly defined as any payment made to an invoice or bill. Amounts sent by someone who works abroad to their family back home are usually referred to by the term nowadays. Remittance is derived from the term remittance, which means to send back.

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