The length of time, established by custom and varying between countries, that is allowed for payment of a foreign bill of exchange.
Interest paid on borrowed money.
The time allowed for the payment of a foreign bill of exchange, as established by custom.
The length of time permitted for the payment of a bill of exchange.
Origin of usance
- Middle English usage from Old French probably from Vulgar Latin ūsantia from ūsāns *ūsant- present participle of *ūsāre frequentative of Latin ūtī
From American Heritage Dictionary of the English Language, 5th Edition