Usance


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Related to Usance: Usance Letter of Credit

USANCE, commercial law. The term usance comes from usage, and signifies the time which by usage or custom is allowed in certain countries, for the payment of a bill of exchange. Poth. Contr. du Change, n. 15.
     2. The time of one, two or three mouths after the date of the bill, according to the custom of the places between which the exchanges run.
     3. Double or treble is double or treble the usual time, and half usance is half the time. Where it is necessary to divide a month upon a half usance, which is the case when the usance is for one month or three, the division, notwithstanding the difference in the length of the months, contains fifteen days.

References in periodicals archive ?
Letters of Credit (LC) sight and usance, bank guarantees, labour guarantees, advance payments and performance bonds.
Foreign Usance Discount Bill Purchase P4 (Assigned)
Opposing this proto-capitalist view is Antonio, who in Shylock's words, lends out money gratis, and brings down The rate of usance here with us in Venice.
The trade finance transactions mostly financed include pre-shipment finance, usance L/Cs (letters of credit), export credit financing, working capital financing as well as bank and shipping guarantees.
I hate him for he is a Christian, But more for that in low simplicity He lends out money gratis and brings down The rate of usance here with us in Venice.
I hate him for he is a Christian" and because he "lends out money gratis and brings down/The rate of usance here with us in Venice" (11.
For instance, Taiwan has witnessed an annual growth of 20%-30% in usance credits since 2007 and the demand on usance credit will keep growing, particularly when the export-oriented SMEs need usance credit to conduct external trade.
I would be friends with you and have your love, Forget the shames that you have stained me with, Supply your present wants and take no doit Of usance for my moneys.
The coverage will be expanded from Banker Usance to D/A (document/acceptance) and Shipper's Usance.