ACTUARIAL CONTRACT definition
ACTUARIAL CONTRACT means a Contract pursuant to which the allocation of each payment between interest and principal is calculated using the Actuarial Method.
ACTUARIAL CONTRACT. Any Contract pursuant to which the portion of any scheduled payment allocable to interest is calculated on the basis that each monthly payment is applied on its Due Date, regardless of when it is actually made.
ACTUARIAL CONTRACT means any Contract with respect to which payments are calculated and applied pursuant to the "actuarial" method.
More Definitions of ACTUARIAL CONTRACT
ACTUARIAL CONTRACT. Any Contract, other than a Simple Interest Contract, on which 30 days of interest is owed irrespective of the day on which payment is received.