1. the act of sending money as payment
Usage: formal
2. the cancellation or reduction of a debt, penalty, or punishment
Usage: formal; legal

Examples

• The remitment of funds to overseas suppliers was delayed.
• She arranged for the remitment of her monthly rent payment.
• The court ordered a remitment of half the fine.
• His good behavior earned him a remitment of his sentence.
• The bank processed the remitment within two business days.
• The judge granted a partial remitment of the penalty.