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Glite Dictionary
🎎 Customary practice 🌱 Use of goods ⏳ Payment time
usance

usance

9.9
A time businesses have to pay a bill, often in international trade
  • noun
  • /ˈjuːzəns/
  • Formal
translation icon : plazo
  • The usance for bills drawn between these countries is typically sixty days.

Examples

  • Traders must consider the local usance before agreeing on payment terms.

  • The usance for international trade bills is often set at ninety days to accommodate shipping times.

  • A shorter usance may put pressure on buyers to settle quickly.

  • The usance for this bill is 60 days.

  • Many companies follow the usance of 90 days for payment.

  • Understanding the local usance can help avoid disputes over payment deadlines in business transactions.

  • Many exporters prefer a longer usance to give their clients ample time to pay after receiving goods.

Synonyms

terms
vsusance
2.7

The conditions for a deal, especially how and when you pay

refers specifically to the allowed time for payment under trade rules

Antonyms

immediate payment
1 3.6

Money you give when you buy something

Surface Forms

usance singular
usances plural

Etymology

Usance also comes from the idea of a customary 'use' of time in trade, related to use and usage. A helpful way to remember it is to imagine a buyer 'using' the seller's money for a set time before paying, so usance means the allowed period to pay.