usance

1. The length of time, established by custom and varying between countries, that is allowed for payment of a foreign bill of exchange.
2. Use.
3. Usage; custom.
4. Interest paid on borrowed money.

[Middle English, usage, from Old French, probably from Vulgar Latin *ūsantia, from *ūsāns, *ūsant-, present participle of *ūsāre, frequentative of Latin ūtī.]

Period of time between the date a bill of exchange is presented and the date it is paid. In a strict sense, the term means the time allowed by custom for the period of bills of exchange in trade between two particular countries, which can be anywhere from two weeks to two months or longer. Today, it means the time period for which any bill is drawn, or its Tenor.

noun

A habitual way of behaving: consuetude, custom, habit, habitude, manner, practice, praxis, usage, use, way, wont. See usual/unusual.

The noun has 3 meanings:

Meaning #1: (commerce) the period of time permitted by commercial usage for the payment of a bill of exchange (especially a foreign bill of exchange)

Meaning #2: (economics) the utilization of economic goods to satisfy needs or in manufacturing
  Synonyms: consumption, economic consumption, use, use of goods and services

Meaning #3: accepted or habitual practice
  Synonyms: custom, usage