What is what does remit mean?

Remit generally refers to the action of sending or transferring money, funds, or payments to a person or organization. This can be done through various methods such as wire transfer, electronic funds transfer, or sending money through mail. Remittance is commonly used in the context of financial transactions, international trade, and sending money to loved ones living abroad. Additionally, the term remit can also refer to the act of returning a matter to a person or group for further consideration or decision-making.