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usance (YOO-zuhns) noun
1. The customary length of time allowed for the settlement of a foreign bill.
2. Usage; custom.
[From Middle English, from Old French, probably from Vulgar Latin usare, from Latin uti (to use).]
"The trading houses have also been denied issuance of usance trade bills by the banks." Year-End Export Climate Dim; The Korea Times (Seoul, South Korea); Nov 27, 1998.
"Such approval may be given even in cases where usance bills are to be drawn for the shipment, provided the relative letter of credit covers the full export." Submit Export Declaration to Authorised Dealer: RBI; Economic Times (New Delhi, India); Feb 13, 2004.
This week's theme: words from the world of money and finance.
If you torture data sufficiently, it will confess to almost anything. -Fred Menger, chemistry professor (1937- )