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Usance |
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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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