A barrier between you and your annoying neighbors or so your rabbid dog doesn’t escape from your yard. If you have a fence you either have neighbors that you absolutely despise or a dog that you cannot have your trust with, a Fence kind of looks like a mini version of the White House
Noun. A member of a robbery crew whom has been elected to tamper with stolen materials (cut diamonds, melt down metal) to make them unrecognizable by law enforcement. He/she will later turn the goods to the market in order to exchange them for cash. That cash is the payout.
"We'll get the jewels to the fence. Excellent work. Your pay will be wired to your bank accounts."