Definitions

Usance

Usance

[yoo-zuhns]
Usance refers to the utilization of economic goods to satisfy needs. In manufacturing, Usance means "inputs." It is used in "usance bills." This terminology is used in banks in India, when dealing with forex.

In medieval banking, "usance" denoted the period of time, set by custom, before a bill of exchange could be redeemed at its destination.

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