A period of time, such as for an policy, bond, or contract.

Use term in a sentence

The Term of this contract is stated as I must have all work finished 30 days after work has started.

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After reviewing all their options, the couple decided to settle on the thirty year mortgage. They knew this term would best suit their finances.

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The insurance extends only as long as the term of the contract, meaning once that period of time has passed, you will no longer be covered under the insurance.

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maturity amortization term