what is usance 
in international trade usance sometimes called tenor is the allowable period of time permitted by custom between the date of the bill and its payment the usance of a bill varies between countries often ranging from two weeks to two months it is also the interest charged on borrowed funds usance is derived from the action of usury as well as the use of goods for economic purposes understanding usanceusance applies to many items purchased on credit for example a company that purchases materials from a supplier will receive the goods today the bill will be delivered today but the company might have up to 30 days to pay it the 30 days represents the usance for the sale 