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Investments glossary

Usance


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Quotes of the day:

To keep a lamp burning we have to keep putting oil in it.

— Mother Teresa

In international trade, usance 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.

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