The Collaborative International Dictionary of English v.0.48:

Remittee \Re*mit`tee"\ (r?-m?t`t?"), n. (Com.)
   One to whom a remittance is sent.
   [1913 Webster]

Bouvier's Law Dictionary, Revised 6th Ed (1856):

REMITTEE, contracts. A person to whom a remittance is made. Story on Bailm.
Sec. 75.