FOLIO Ontology

Amortized Asset

IRI:
https://folio.openlegalstandard.org/RL7IXFcChVOHHB88Tedz3a
Preferred Label Amortizing Financial Instrument
Alternative Labels
Amortization Loan Amortizing Asset Installment Payment Asset

Definition

An Amortized Asset is a financial instrument where the principal amount is gradually reduced through regular payments over the life of the asset. These payments typically include both interest and principal, leading to a decrease in the outstanding balance until the loan is fully repaid by the maturity date.

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Additional Information

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