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