# Term

From ACT Wiki

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