remit

remit
To pay for purchases by cash, check, or electronic transfer. Bloomberg Financial Dictionary

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▪ I. remit re‧mit 1 [rɪˈmɪt] verb remitted PTandPPX remitting PRESPARTX [transitive] formal
1. FINANCE to send a payment to a person or place:

• a ban preventing companies from remitting profits, dividends or capital abroad

remit something to somebody/​something

• Our overseas branches remit a small proportion of their profits to the parent company.

2. LAW to send a legal case from a high court to a court that deals with less important cases:
remit something to something

• The appeal was remitted to the Employment Tribunal for a fresh hearing.

3. LAW FINANCE to free someone from a debt or punishment:

• The court has the power to remit the debt.

  [m0] ▪ II. remit re‧mit 2 [ˈriːmɪt ǁ rɪˈmɪt, ˈriːmɪt] noun [countable] formal
the particular area of activity or piece of work that a person or group has the responsibility for dealing with:

• This problem is outside our remit.

• Our remit was to make the newsletter brighter and livelier.

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Ⅰ.
remit UK US /ˈriːmɪt/ US  /riːˈmɪt/ noun [C, usually singular] UK
► the types of activity that a person or organization has responsiblity for: »

The Treasury's remit has never been more wide-ranging than it is now.

 »

As independent broadcasters, it is part of our remit to cater for minority audiences and promote diversity.

 »

Her appointment to the board comes with a remit to focus on its corporate social responsibility.

 »

a narrow/wide remit

 have a/no remit to do sth »

The Commission had the remit to consider how small companies could compete in the public-sector market.

 be/fall outside sb's remit »

Where a case falls outside the ombudsman's remit, the aggrieved customer has no alternative but to take the company involved to court.

 be/fall within/under sb's remit »

Many such cases will fall within the remit of the small claims court.

 »

His remit includes strategy development, and pricing and packaging issues, as well as regulatory affairs.

Ⅱ.
remit UK US /rɪˈmɪt/ verb [T] (-tt-)
► FINANCE to send money to someone, especially as a payment for something: remit sth to sb/sth »

The British parent company of a multinational group may need to remit profits from its foreign subsidiaries to Britain, so that it has enough money to pay its own dividends.

 remit taxes/proceeds/funds »

Legislation requires businesses to collect and remit sales tax on a six-monthly basis.

► LAW to order a legal case to be dealt with in a different court of law: be remitted to the court/tribunal »

The case will be remitted to the tribunal for reconsideration.

► LAW to state legally that someone does not have to do something, for example pay a debt: »

The fine was calculated at £3,500 but was subsequently remitted.


Financial and business terms. 2012.

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Look at other dictionaries:

  • remit — re·mit /ri mit/ vb re·mit·ted, re·mit·ting [Latin remittere to let go back, send back, give up, forgive, from re back + mittere to let go, send] vt 1 a: to release from the guilt or penalty of b: to refrain from exacting remit a tax c …   Law dictionary

  • Remit — Re*mit (r? m?t ), v. t. [imp. & p. p. {Remitted}; p. pr. & vb. n. {Remitting}.] [L. remittere, remissum, to send back, to slacken, relax; pref. re re + mittere to send. See {Mission}, and cf. {Remise}, {Remiss}.] 1. To send back; to give up; to… …   The Collaborative International Dictionary of English

  • remit to — [phrasal verb] remit (something) to (someone or something) : to send (something, such as a dispute or a court case) to an authority that can make a decision about it often used as (be) remitted to The matter was remitted to a new committee for… …   Useful english dictionary

  • remit — [v1] send, transfer address, consign, dispatch, forward, mail, make payment, pay, post, route, settle, ship, square, transmit; concepts 217,341 Ant. hold, keep remit [v2] stop, postpone abate, absolve, alleviate, amnesty, cancel, condone,… …   New thesaurus

  • remit — [ri mit′; ] for n., chiefly Brit [ rē′mit] vt. remitted, remitting [ME remytten < L remittere (pp. remissus), to send back, in LL(Ec), to forgive sin < re , back + mittere, to send: see MISSION] 1. to forgive or pardon (sins, offenses,… …   English World dictionary

  • Remit — Re*mit , v. i. 1. To abate in force or in violence; to grow less intense; to become moderated; to abate; to relax; as, a fever remits; the severity of the weather remits. [1913 Webster] 2. To send money, as in payment. Addison. [1913 Webster] …   The Collaborative International Dictionary of English

  • remit — late 14c., from L. remittere send back, slacken, let go, abate, from re back + mittere to send (see MISSION (Cf. mission)). Meaning send money to someone first recorded 1630s. Related: Remitted; remitting …   Etymology dictionary

  • remit — 1 pardon, forgive, *excuse, condone Analogous words: *exculpate, exonerate, acquit, vindicate, absolve 2 forward, transmit, route, ship, *send, dispatch …   New Dictionary of Synonyms

  • remit — The noun, meaning ‘terms of reference’, is pronounced with the stress on the first syllable or (less often) on the second, and the verb, meaning ‘to send (money)’, is pronounced with the stress on the second syllable. The inflected forms of the… …   Modern English usage

  • remit — ► VERB (remitted, remitting) 1) cancel (a debt) or refrain from inflicting (a punishment). 2) send (money) in payment, especially by post. 3) refer (a matter for decision) to an authority. 4) Theology pardon (a sin). 5) archaic diminish …   English terms dictionary

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