Usance

[ju:zәns]

Definition

(noun.) the period of time permitted by commercial usage for the payment of a bill of exchange (especially a foreign bill of exchange).

Checker: Monroe--From WordNet

Definition

(v. t.) Use; usage; employment.

(v. t.) Custom; practice; usage.

(v. t.) Interest paid for money; usury.

(v. t.) The time, fixed variously by the usage between different countries, when a bill of exchange is payable; as, a bill drawn on London at one usance, or at double usance.

Editor: Rosanne