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Also known as a Period Certain Annuity. Fixed Period Annuity is a term used to describe a specific payout option for an Immediate Annuity contract. When an annuity distribution period begins or the annuitization begins, the annuitant can choose distributions over a fixed period of time.
The maturity, or âtenor,â of a fixed-to-floating interest rate. swap is usually between one and fifteen years. By convenÂ­. tion, a fixed-rate payer is designated as the buyer of the. swap, while the floating-rate payer is the seller of the swap. Swaps vary widely with respect to underlying asset, matuÂ­. rity, style, and contingency provisions.