Term

1. Contract law.

A term is a part of a contract which may be either:

(i) A condition;
(ii) A warranty; or
(iii) An innominate term.

Contract terms may be express terms or implied terms.

2.

The time before maturity.

Also known as the Tenor.

3. Interest rate quotation.

In relation to interest rates, a 'term' rate refers to maturities longer than overnight.

4.

A period within a floating rate loan's total maturity, for which an interest rate is fixed at the start of that period.

5. Financial maths.

An item in a mathematical expression.

For example, an error term.

See also

• Clause
• Condition
• Contingent Term Repo Facility
• Error term
• Express term
• Fixed term fund
• Implied term
• Innominate term
• Long term contracts
• Long term foreign exchange
• Longer term
• Medium term notes (MTNs)
• Provision
• Puff
• Short term
• Sight
• SOFR term rate
• Term debt
• Term deposits
• Term fixing
• Term letter of credit
• Term loan
• Term out
• Term premium
• Term rate
• Term sheet
• Term SONIA reference rate
• Term structure of interest rates
• Warranty