noun the period of time allowed for the payment of a bill of exchange
Usance is commonly used in international trade to refer to the agreed upon period of time within which a buyer must pay for goods or services received.
In legal contracts, usance may be included to specify the terms of payment and the grace period allowed before penalties or interest accrue.
Usance can also be relevant in shipping and logistics to determine the time allowed for the presentation of documents or the release of goods.
In general commerce, usance may be used to indicate the customary practice or accepted usage within a particular industry or market.
In banking and finance, usance refers to the allowable period of time before payment is due on a bill of exchange or promissory note.
In the context of a writer, 'usance' may refer to the practice of using certain language or writing styles that are commonly accepted or understood within a specific genre or literary tradition.
For a psychologist, 'usance' could be used to describe the habitual or customary behaviors and thought patterns of an individual, which may be relevant in diagnosing or treating mental health conditions.
In banking, 'usance' typically refers to the period of time allowed for payment on a bill of exchange or promissory note, indicating the agreed upon date when the payment is due.
In the context of international trade, 'usance' may be used to describe the customary practices or terms of payment between parties in different countries, such as the use of letters of credit with specific usance terms.