Meaning of “usance” in the English Dictionary

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"usance" in Business English

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usancenoun [ U ]

uk /ˈjuːzəns/ us

COMMERCE the usual period of time allowed for payment of a bill of exchange, in international trade:

The contract may require you to pay interest for the period of usance.

(Definition of “usance” from the Cambridge Business English Dictionary © Cambridge University Press)