Term

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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.


See also