Usance


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Related to Usance: Usance Letter of Credit

Usance

The time allowed for settlement of a draft.

Usance

1. The use of goods and services to fulfill needs. For instance, one who buys food and then eats it is getting usance out of the food. Likewise, a company that buys crude oil in order to produce refined oil is getting usance from the crude.

2. The customary period between the time a bill is sent and the time payment is due. Depending on the good or service being provided, usance can be anywhere from a few days to a few months. Usance in this sense is also called usage or tenor.
References in periodicals archive ?
He says to Antonio: "I would be friends with you, and have your love,/Forget the shames that you have stained me with,/Supply your present wants, and take no doit/Of usance for my moneys.
usance letters of credit 190,717 101,499 Notes payable 317,146 308,925
Vendors, 100 Percent Payment After Receipt & Acceptance Of Matl Within 90 Days & For Foreign Vendors, Payment Thro" L/C With Usance Period 90 Days.
usance letters of credit 10,262 104,025 Notes payable 89,156 163,795
usance letters of credit 10,262 31,514 Notes Payable 89,156 169,117
under usance letters of credit $40,814 $4,285 Bank borrowings 12,603 25,322