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 ?
Embedded in the formal bond of the loan lies a gift, the forfeiting of commercial "usance" (1.3.136), igniting the usury of gift-exchange and the attitudes of trust and gratitude that the usury of friendship entails, coextensive with Shylock's vengeful motive.
This is not to say that usance cannot be rationalized in the modern sense, but it did not begin life that way.
When Antonio, in the same scene, makes his request for the loan, Shylock replies Signior Antonio, many a time and oft In the Rialto you have rated me About my moneys and my usances: Still have I borne it with a patient shrug, For suff'rance is the badge of all our tribe.
PGPIC earlier announced it had devised plans to attract funds for its petrochemical projects through a series of agreements that include usance deferred payment and short-term finance schemes.
This means that two articles of the Commercial Code in such circumstances the foresight and wisdom enshrined traders interact with each other so that it was the story of a sensitive document holder concerns and promise of regulatory authorities, potential commercial document is usance.
at 30, 60, 90 or 180 days after sight or shipment date (usance).
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...." (1.3.139-142) He offers to lend him money with no interest.
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.