Common use of Remaining actual amortization period Clause in Contracts

Remaining actual amortization period. At any time, we work out the remaining actual amortization period by using what is owed at that time, the interest rate at that time, and the instalment at that time. Balance due date. This is the day on which you must repay the balance of the loan and the interest on the loan in full, unless the loan is renewed for another term. The balance due date is sometimes called the "maturity date."