> For the complete documentation index, see [llms.txt](https://docs.term.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.term.finance/protocol/term-repos/conventions.md).

# Conventions

### Day-count convention

In calculating the repurchase price due at maturity based on the market clearing repo rate, we follow an Actual/360 day count convention.

$$
\text{DayCountFactor} = \frac{\text{Days}(\text{AuctionDate},\text{ MaturityDate})}{360}
$$

### Repurchase Price

The Repurchase Price, given the Purchase Price and any given repo rate is calculated as follows:

$$
\text{RepurchasePrice} = \text{PurchasePrice} \left(1+ \text{RepoRate}\*\text{DayCountFactor}\right)\
$$