Usance
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Usance refers to the utilization of economic goods to satisfy needs. In manufacturing, "usance" means "inputs." It is used in "usance bills."[1]
In medieval banking, "usance" denoted the period of time, set by custom, before a bill of exchange could be redeemed at its destination. In modern banking terminology, "usance" refers to the time between the issuance of a bill of exchange and its payment.[2]
References
[edit]- ↑ Paul, Justin (2008). Export import management. New Delhi: Oxford University Press. p. 24. ISBN 978-0-19-569458-1.
- ↑ Nelson, Carl A. (2000). Import/export: how to get started in international trade. New York: McGraw Hill. p. 325. ISBN 978-0-07-135871-2.
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