Term Bond

See: Term Loan. See: Term Out.

A week is a term. A month is a term. A decade is a term. When you have a term bond, you pay it off serially, month by month or year by year, if you were the issuer of that bond.

If you own it (i.e. if you were the lender), then you get it paid down serially. Not in one lump sum. Little by little.