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TeachMeFinance.com - explain Usance Usance -- The common period fixed for payment by usage, custom, or habit of dealings between the country where a bill of exchange is drawn and that where it is payable. It varies according to the countries involved. historic definition... Usance -- A period of time, variable as between different countries, which, by commercial usage, is allowed for payment of foreign bills of exchange, exclusive of days of grace. On bills drawn in China and India on European centres commercial usage has established a usance of four months. Double-usance and half-usance are recognized. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.