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 ?
Vendors, 100 Percent Payment After Receipt &Acceptance Of Matl Within 90 Days & For Foreign Vendors, Payment Thro" L/C With Usance Period 90 Days.
If the usance to pay back the excess is less than a working day, this is also considered cash.
Foreign Outward Usance Bill Purchased P4+ (Assigned)
Yet in his aside "How like a fawning publican he looks" (38-49), Shylock seethed with hatred, and in "But more for that in low simplicity / He lends out money and brings down / The rate of usance here with us in Venice" (40-42) Heald stressed "But" to indicate the monetary basis for much of Shylock's hatred of the man who undercuts the only business that a Jew could legally pursue in Renaissance Italy.
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.
Time drafts are also known as documents against acceptance, or documents against usance.
Similar to their domestic counterparts, the investing foreign firms will be each delegated with 20 wells for two-year usance framework," he said.
Vendors, 100 Percent Payment After Receipt & Acceptance Of Matl Within 90 Days & For Foreign Vendors, Payment Thro" L/C With Usance Period 90 Days.
Foreign bills demand purchase/foreign usance bills purchase
Interchangeable with usance bill discounting, export packing credit, foreign bills discounting and letter of credit