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What does remittance mean?

Looking for the meaning or definition of the word remittance? Here's what it means.

Noun
  1. The act of transmitting money, bills, etc. to a distant place, in return or payment for goods purchased.
  2. That which is remitted; a payment to a remote recipient.
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Examples
The center provides underwriting, policy processing, remittance and other services.
Suppliers of medical services also have immediate access to their remittance advices which results in a paperless environment.
Cheques and remittance advices were raised mostly in alphabetical order, as per the purchase ledger.
Such deposits and share contributions will end on August 30, to allow for remittance of money to input suppliers.
There is also a wide discrepancy among the Middle Eastern countries' reliance upon workers' remittance.
A bank erroneously credited its customer's account twice with the amount of a single remittance.

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