renard99
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LSDefine
Simple English definitions for legal terms
remittance
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A quick definition of remittance:
Remittance: When you send money to someone else to pay for something or as a gift, it's called a remittance. You can use different ways to send money, like a check or online transfer. The process of sending money is also called remittance.
A more thorough explanation:
Remittance is when someone sends money to another person or place as payment for goods or services. It can also refer to the instrument used to send the money, such as a check or wire transfer.
- When I moved to a new country, I had to send a remittance to my landlord to pay for my rent.
- My friend sent a remittance to her family in another country to help them pay for medical expenses.
- My employer sends me a remittance every two weeks for my work.
These examples illustrate how remittance is used to send money for different purposes, such as paying rent, helping family members, or receiving payment for work. It can be done through various methods, such as wire transfers or checks.