The components, elements, or parts of an agreement. The "terms" of a futures contract include: which commodity, its quality, the quantity, the time and place of delivery, and its price. All the terms of futures and futures option contracts are standardized by the exchange, except for price, which is determined through " open-outcry" in the exchanges' trading pits. The CENTER ONLINE Futures Glossary
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terms
► [plural] the conditions for payment that you agree to when you buy or sell something: »
Their payment terms are sixty days.
on attractive/favourable/good terms »The South Africans rescheduled Mozambique's debt on favourable terms.
Main Entry: ↑term
Financial and business terms. 2012.