As to the times of payment of foreign bills of exchange, and the terms of art ordinarily used by merchants in drawing, and expressed in the said bills: the times of payment are, as above, either-- (1.) At sight; which is to be understood, not the day it is presented, but three days (called days of grace) after the bill is accepted: (2.) usance: (3.) two usance.[47] Usance between London and all the towns in the States Generals' dominions, and also in the provinces now called the Austrian Netherlands [Belgium], is one month.

And two usance is two months; reckoning not from the acceptance of the bill, but from the date of it.

Usance between London and Hamburgh is two months, Venice is three months; and double usance, or two usance, is double that time.

Usance payable at Florence or Leghorn, is two months; but from thence payable at London, usance is three months.

Usance from London to Rouen or Paris, is one month; but they generally draw at a certain number of days, usually twenty-one days' sight.