conferment(n = noun.act) bestowal, bestowment, conferral - the act of conferring an honor or presenting a gift;
is a kind of gift, giving
Derived form verb confer₂

   the act of conferring an honor or presenting a gift. Same as conferral. [WordNet 1.5]

conferment, n.
1 the conferring of a degree, honour, etc.
2 an instance of this.