Remitted definitions
| Word backwards | dettimer |
|---|---|
| Part of speech | The word "remitted" is a verb. |
| Syllabic division | re-mit-ted |
| Plural | The plural form of the word "remitted" is "remitted." |
| Total letters | 8 |
| Vogais (2) | e,i |
| Consonants (4) | r,m,t,d |
When discussing finances, the term remitted often comes up in conversations surrounding payments or money transfers. But what exactly does it mean to have money remitted? Essentially, remitted refers to the act of sending money to someone, often in a different location or country.
Definition of Remitted
Remitted can be defined as the process of sending money from one party to another. This can be done through various methods such as wire transfers, online payments, or even traditional methods like mailing a check. The purpose of remitting money is to fulfill a financial obligation or simply to send money to someone in need.
Types of Remittance
There are several types of remittance depending on the situation at hand. One common type is migrant remittance, where individuals working abroad send money back to their families in their home country. Another type is business remittance, where companies send payments to their suppliers or employees. Additionally, personal remittance involves sending money to friends or family members for personal reasons.
Process of Remitting Money
The process of remitting money typically involves the sender initiating a transfer through a financial institution or online payment platform. The sender provides the necessary information such as the recipient's name, account number, and the amount to be sent. Once the transfer is initiated, the money is electronically moved from the sender's account to the recipient's account.
In some cases, the recipient may need to provide identification or a code to access the funds. Once the transaction is complete, both parties receive confirmation of the transfer, ensuring that the money has been successfully remitted.
Overall, the concept of remitted is a crucial aspect of the financial world, allowing for easy and efficient transfer of money between parties. Whether for personal or business reasons, remitting money plays a vital role in ensuring that financial obligations are met and that individuals can easily send money to others in need.
Remitted Examples
- She remitted the payment for the invoice promptly.
- The symptoms of the disease remitted after treatment.
- The court remitted the case back to the lower court for further review.
- As per company policy, taxes are remitted directly to the government.
- The fever finally remitted after a week of medication.
- The bank remitted the funds to the account holder's account.
- The professor remitted the assignment deadline for students affected by the power outage.
- The church remitted the sins of the repentant faithful through confession.
- The sender remitted the package to the wrong address by mistake.
- The temperature remitted as the storm passed through the area.