Written, signed, unconditional, and unsecured promise by one party (the maker or promisor) to another (the payee or promisee) that commits the maker to pay a specified sum on demand, or on a fixed or a determinable date. Promissory notes (such as bank or currency notes) are negotiable instruments.
The Basics Of Bond Duration. Duration tells investors the length of time it will take a bond's cash flows to repay the investor the price he or she paid for the bond. A bond's duration is stated as a number of years and ...
Locate a bond's duration under each bond's Bond Details page. Compare the duration of two bonds. As you review potential bond investments, you can easily compare duration and other characteristics between two bonds using this tool.