usance
Definition
Usual period allowed for payment of a bill of exchange (such as a check or draft), especially in international trade. Usance does not refer to a fixed period but varies according to customary practice (see Custom) in that trade or between the countries involved. See also usage and tenor.
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usance is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
usance appears in these other terms: usance letter of credit (L/C), usance bill
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